Data science cheat sheet

What is it?

Data science is the practice of extracting knowledge from data using techniques such as statistical analysis, computer programming and artificial intelligence. It allows businesses to make accurate decisions to improve their products and models.

Why is it important now?

Data science has developed due to the massive flood of data on the internet. Damien Clements, data scientist at AVADO Learning, says: “Maybe 50 or 60 years ago, you would have 1000 pieces of information, but now you’ve got billions. It’s really the shift of technology and the shift of people’s habits that makes data science so pivotal today.”

Is it dodgy?

It would be wrong to say that there are no evil data scientists, but like with most things, there is always a bad guy lurking in the background. With the Cambridge Analytica scandal last year, we saw the bad guy come to centre stage. However, data science is not harmful in itself as long as the data is obtained through transparent and consented means.

Do I need a data scientist for my business?

The term ‘data science’ has been thrown around so much that it may seem like the alpha and omega of business. For a business just starting out, it is unlikely that you would need to hire a data scientist as you probably won’t have enough data to analyse. However, as your business expands, having a data scientist on board is a good way of optimising your business. A study by MHR Analytics last year found that 80% of UK businesses are planning to hire a data scientist or seek data consultancy this year.