Data science is an amalgamation of of data extrapolation, algorithmic enhancement in order to solve complex analytical problems.
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Discovering Data Insight
Data Insight is all about unearthing findings from data. Diving in at a deep level to mine and understand complex behaviors and trends. It’s all about finding the hidden insight in the large amounts of raw data that can help enable companies to make smarter business decisions. For e.g.Netflix mines user data of movie viewing patterns to help them understand what drives user interest, and uses that understanding to make decisions on which new Netflix original series they should produce.
Development of Data Products
A Data Product is that which utilizes data as input, and processes it to return results generated by algorithms. An example of a data product is that of a recommendation engine, which accepts user data and makes personalized user recommendations based on that data. For e.g. Amazon’s recommendation engine uses algorithms to help you buy items you might be interested in based on previous purchases.
Domain engineering, is the process of reusing domain knowledge to produce new software systems. It is a key concept in systematic software reuse. Rather than building each new system variation from scratch, significant savings can be achieved by reusing modules of previous.