ACCT2522 Midterm: What is Data Science
Document Summary
Data science is the process of extracting insights from data using technology. It involves using advanced tools and programming languages such as python and r to analyze big data, which is not feasible with traditional tools like microsoft excel. A typical data science project involves a business problem, data collection, data cleaning and exploration, building a model, and deploying the model to production. For instance, let"s consider a restaurant business with locations in new york and san diego. The local managers send monthly sales data in an excel file to the business owner. By plotting a side- by-side bar chart of the monthly sales numbers, the business owner can identify that the new. York restaurant is not performing well during summer months. This visualization can help the owner make a business decision to run a special promotion during the summer in the new york restaurant.