Data Science 101 - Definitions You Need to Know - Shelly Palmer

Our 7th Annual Media Technology Summit is just a few weeks away and the subject of data science is going to be front and center Each and every one of us creates a wealth of data every day but information is not knowledge The data must be wrangled and put in context to make it actionable There are many different techniques one can apply to data to accomplish this goal but an important part of the process falls in to the multidisciplinary field of data science Which is what exactlyData Science the analysis of data using the scientific method It may be the most overused term of the year but you39re unlikely to have a meeting where the topic does not come upData Scientists There are many who say that data scientists people who practice data science are not really scientists That seems unfair While there are a bunch of charlatans people and organizations passing themselves off as data scientists I would argue that if the scientific method is applied which if you remember from middle school science class is generally a statistically controlled sixstep process question research hypothesize experiment analyze conclude the professionals doing the work qualify as scientists Let39s not get caught up on whether or not data science is real science There are people who use analytical tools to find patterns in data let39s call them data scientistsData Wrangling or Data Munging amp8211 is a laborious process of manually extracting mapping converting or generally cleaning up data in raw form Data wranglers use algorithms a process or set of rules to be followed in calculations or other problemsolving operations especially by a computer to parse disparate types of data and fit it into defined structures The ultimate goal is to prep the data for storage and future useBig Data amp8211 can mean anything that anyone wants it to mean It is on my list of banned words and really is more of a concept than an agreed upon thing However it is usually defined as sets of data that are too large and complex to manipulate or interrogate with standard methods or tools in other words big If you collect big amounts of data go ahead and call it big data A good example of a big data set is all the digital health records in the United States or all of the viewer data from all of Comcast39s settop boxesHadoop amp8211 Apache Hadoop is an opensource software framework for storage and largescale processing of datasets on clusters of commodity hardware It is commonly used in quotHadoop clustersquot which are purposedesigned computational clustersMultivariate statistical analysis is based on the statistical principle of multivariate statistics which involves observation and analysis of more than one statistical outcome variable at a time There are several uses for multivariate analysis such as capabilitybased design inverse design where variables can be treated independently AoA Analysis of Alternatives and correlations across hierarchical levelsTimeseries analysis is the use of a model to predict future values based on previously observed values It differs from regression analysis which is often used to test theories that the current values of one or more independent timeseries affect the current value of another timeseries in that timeseries analysis focuses on comparing values of a single timeseries or multiple dependent timeseries at different points in timeMultidimensional array a data structure that has the semantics of an array of arrays all of which may be indexed with values of any data type usually with a supporting syntax builtinto a programming languageThese are just a few of the terms that you should know if you39re going to discuss data science with your HR department or anyone else for that matter There is a great deal of myth and mystery around this subject such asamp183 Are data scientists just statisticians with fancy titlesamp183 Don39t we need superexpensive data appliances to support a data science departmentamp183 Aren39t all these people just academics who don39t know anything about businessOf course everyone really wants to know Where can I find one These are all great questions For great answers come join us at the7th Annual Media Technology Summit on October 23rd at the Sheraton Times Square BTW if you39ve read this far email me for a discount code amp8211 you deserve itShelly Palmer is Fox 5 New York39s Onair Tech Expert WNYWTV and the host of Fox Television39s monthly show Shelly Palmer Digital Living He also hosts United Stations Radio Network39s Shelly Palmer Digital Living Daily a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology media and entertainment He is Managing Director of Advanced Media Ventures Group LLC an industryleading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts ampamp Sciences the organization that bestows the coveted Emmyamp174 Awards Palmer is the author of Television Disrupted The Transition from Network to Networked TV 2nd Edition York House Press 2008 the seminal book about the technological economic and sociological forces that are changing everything Overcoming The Digital Divide How to use Social Media and Digital Tools to Reinvent Yourself and Your Career York House Press 2011 and Digital Wisdom Thought Leadership for a Connected World York House Press 2013 For more information visit shellypalmercomRead all Shelly39s MediaBizBloggers commentaries at Shelly Palmer ReportCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates MediaBizBloggerThe opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaBizBloggerscom management or associated bloggers MediaBizBloggers is an open thought leadership platform and readers may share their comments and opinions in response to all commentaries

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Data Science 101 - Definitions You Need to Know - Shelly Palmer

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