Data Science versus Statistics

From Open Risk Manual
Revision as of 17:23, 5 December 2023 by Wiki admin (talk | contribs) (Issues and Challenges)

Data Science versus Statistics

Statistics is an academic field (branch of Mathematics) and a professional discipline (practiced in various domains) that concerns the systematic collection, organization, analysis, interpretation, and presentation of data.

Data Science is a broader, interdisciplinary activity, that may use Statistics but also other computational tools, processes, algorithms and systems to extract or extrapolate knowledge and insights from diverse data.

Issues and Challenges

  • Despite the use of the word "Science", Data Science is not more scientific than Statistics, actually less so. Statistics is a term that has been used in academy context for a much longer period and it is more sharply and rigorously defined as sub-field of mathematics.

See Also

References