data-science

Vocabulary Word

Definition

'Data Science' is when we use different tools and methods to understand and learn things from data. It's like being a detective and finding clues in lots of information. We use math, statistics and computer programming to do this.

Examples in Different Contexts

In finance, 'data-science' is used for risk assessment, fraud detection, and investment strategies. A financial analyst might explain, 'Data-science techniques help us identify fraudulent transactions and optimize our investment portfolio.'

Practice Scenarios

Business

Scenario:

The trends in customer buying behavior have changed significantly this year. It might be a good idea to dive deeper into the data.

Response:

I agree. Let's apply some data science methodologies to shed light on the buying trends and enable better decision-making.

Impact

Scenario:

The effects of our social project are hard to measure. We need a more accurate way to evaluate how our efforts have been impacting the community.

Response:

Indeed, we should consider applying data science to objectively measure the impact of our social projects.