What differentiates data science from statistics is that data science is a holistic approach. To put it simply — no. Projections indicate that the data scientist market will experience meteoric growth in the next several years.
Organizations have had access to massive amounts of information for a very long time. Oil companies are prime examples of this, but there are many others, including massive retail chains like Wal-Mart. What makes today different in terms of the amount of information available? Forbes magazine weighs in with a slightly different take on the question. Multi-structured data refers to a variety of data formats and types and can be derived from interactions between people and machines, such as web applications or social networks.
A great example is web log data, which includes a combination of text and visual images along with structured data like form or transactional information. Multi-structured data could be derived from scraping a website. In each instance, this information will do something different, offer something different, and mean something different.
In a sense, it feeds itself. As more data is explored, collated, categorized and packaged, more information is created. It comes from everywhere. Every single search query through Google or Bing is data. Every picture uploaded is data. Every Vine video created is data.
You get the idea. Data is literally everywhere. You can sort your options, compare different models and more. Amazon had to first identify that information, then collate and store it, and then serve it up to you based on nothing more than your online search query through their website. You leave data behind you with every single action you take online.
Using Google to search for a dog training program? Google stores your information and uses it. Google is also storing geo-location information and a great deal more. To go beyond the online and device scenario, consider your frequent shopper card. You use it to get access to important discounts on your groceries or fuel, but every single swipe generates an immense amount of information about your shopping habits, your preferences, the specific retail store locations where you prefer to spend your time… You get the picture.
This is the very beginnings of data science. Storage for data must be more than just a data dump into a database somewhere online, though. Our storage solutions have become ever more sophisticated over time. Storage is not the end of it, though.
Data expands to fill the space you have to store it. The more storage is available, the more data you will find to put in it. Knee-deep in the rising tide, a Tuvalu minister's COP26 speech makes a big impression. Sign up to receive Popular Science's emails and get the highlights. Chief Scientist: Glen Gawarkiewicz. So some steps get overlooked or there's no time in the budget. Remember, a mistake or oversight at the start of a project can take 1, times the effort to repair at the end of the project.
Though the folks doing the heavy lifting at the front end of a project tend to be those with more experience and a heftier price tag, the money saved at the end returns that cost many times over. For wireless field networks or any fieldbus system that communicates digitally, this bidirectional communication is a given, though as indicated, you still need to pick and choose what goes where.
The other end of the spectrum is an autonomous, integrated system that, once running, is almost entirely machine-to-machine communications up to and integrated with the ERP and maintenance systems. It generates work orders, maintains inventory and modifies the way the process operates when the signals used for control begin to deteriorate. Not too many folks know how to get something like this even started correctly, never mind build it.
Data serves as the raw material for the order of deriving information as well as the foundation for taking smart and effective decisions and actions. At the same time as data is a representation of something real existing in the world, the same data would be meaningless without a context or a descriptive definition.
Considering that data is the raw material, it may be said that information is the final processed output.
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