Data science as a field has many dimensions and applications. As we all are familiar with science by formulating reusable and established formulas, we understand the features, behavior patterns, and meaningful sights. In a similar way from relevant data too through engineering and statistical methods, we understand the behavior patterns and meaningful sights. Thus, it's also viewed as data plus science, the science of data or data science.
Data science has been in use for decades across industries. Many algorithms have been developed and are in use across the industries, including:
- K-means clustering
- Association rule mining
- Linear regression
- Logistic regression
- Naïve Bayesian classifiers
- Decision trees
- Time series analysis
- Text analytics
- Big data processing
- Visual work flows
- Apriori
- Neural networks
Combinations of the preceding algorithms are used to solve popular business problems such as the following, and new business opportunities are surfacing continuously:
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