Data science is the study of where information comes from, what it represents and how it can be turned into a valuable resource in the creation of business and IT strategies. Mining large amounts of structured and unstructured data to identify patterns can help an organization rein in costs, increase efficiencies, recognize new market opportunities and increase the organization's competitive advantage.
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Some companies are hiring data scientists to help them turn raw data into information. To be effective, such individuals must possess emotional intelligence in addition to education and experience in data analytics. Data scientists must possess a combination of analytic, machine learning, data mining and statistical skills as well as experience with algorithms and coding. Perhaps the most important skill a data scientist possesses, however, is the ability to explain the significance of data in a way that can be easily understood by others.