Data Scientist

TL;DR

Combines statistics, computer science, and domain expertise to analyze complex datasets.
Uses techniques such as machine learning and predictive modeling to make predictions or recommendations.
Often collaborates with other professionals to implement findings and improve operations or decision-making.

Definition

A data scientist is a professional who uses scientific methods, algorithms, and systems to extract knowledge and insights from structured and unstructured data.

Explanation

A data scientist applies a mix of disciplines — including statistics, computer science, and domain expertise — to analyze complex data sets. They employ methods such as machine learning, predictive modeling, time series analysis, and clustering to identify patterns, make predictions, and generate recommendations. Data scientists translate analytical results into actionable insights and frequently work with other roles (for example, business analysts and software developers) to implement solutions that address organizational problems or improve operations.

Examples

Healthcare

A healthcare data scientist uses data to identify trends and patterns in patient health data. They may use techniques such as machine learning and predictive modeling to identify factors that may be contributing to a patient’s illness, and make recommendations for treatment or preventative measures based on their findings. They may work closely with healthcare providers and researchers to develop new treatments or preventative measures based on their findings.

Finance

A financial data scientist (for example, a financial analyst) uses data to predict market trends and make investment recommendations. They may apply techniques such as time series analysis and clustering to identify patterns and trends in stock prices, and make predictions about which stocks are likely to perform well in the future. They may work with financial advisors and portfolio managers to develop investment strategies and make recommendations to clients based on their analysis of market trends.

Use cases

Improving business operations by translating data analysis into actionable solutions.
Developing new treatments or preventative measures in healthcare based on data-driven findings.
Creating investment strategies and making client recommendations in finance using predictive analysis of market trends.

Statistics
Computer science
Domain expertise
Machine learning
Predictive modeling
Time series analysis
Clustering
Business analysts
Software developers
Healthcare providers
Researchers
Financial advisors
Portfolio managers