The term “Data Science” was created in the early 1960s to describe a new profession that would support the understanding and interpretation of the large amounts of data which was being amassed at the time. (At the time, there was no way of predicting the truly massive amounts of data over the next fifty years.) […]
What Is Data Science?
Data Science is a combination of scientific disciplines “to build predictive models that explore data content patterns,” according to the Data Management Body of Knowledge (DMBoK). Data Science, formerly known as applied statistics: “Integrates methods from mathematical, statistical, computer science, signal processing, probability modelling, pattern recognition machine learning, uncertainty modeling and data visualization towards gaining […]
What Is Prescriptive Analytics?
Prescriptive analytics uses outcomes and scenarios to answer the question “What should we do to make things happen?” It takes predictive analytics a step further to define actions that will affect outcomes, rather than just predicting the outcomes from actions that have occurred. Prescriptive analytics shows the implication of various decisions to anticipate what, when, […]