DATA SCIENCE MIS0855 | Spring 2016 Introduction SungYong Um

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Presentation transcript:

DATA SCIENCE MIS0855 | Spring 2016 Introduction SungYong Um

Today’s Goal  Understand the basic concept Data Information Knowledge  Examples  We tend to use data and information interchangeably.  Can you think of a difference between data, information, and knowledge?

Data, Information, Knowledge  Data : Raw, unorganized facts that describe the characters of an event or an object  Information : Data that is processed and organized with meaning and value  Knowledge : Collection of information and data that is useful for decision makings Adapted from

Example: Data StudentExam ScoreAttendance Bob8790% Sue98100% Jack4130% Mary7780% Phillip6560% Steve8895% Helen7282% What information can we find out from this data?

Example: Information StudentExam ScoreAttendance Bob8790% Sue98100% Jack4130% Mary7780% Phillip6560% Steve8895% Helen7282% Exam Analysis: Mean75.4 Median77 Lowest Score41 (Jack) Highest Score 98 (Sue) What can we find out from this information?

Example: Knowledge StudentExam ScoreAttendance Bob8790% Sue98100% Jack4130% Mary7780% Phillip6560% Steve8895% Helen7282% Exam Analysis: Mean75.4 Median77 Lowest Score41 (Jack) Highest Score 98 (Sue) The students who get lower exam scores also have lower attendance.

Data – Another Example What kind of information can we get from this data?

Information – Another Example Comcast stock has risen by 12.8 for the last one year.

Knowledge – Another Example Comcast has outperformed the Dow-Jones Index by 3.33%-point.

Other examples in data, information, and knowledge?

So what is Big Data? Velocity Variety Volume And is it a Big Deal?

Data and Big Data don’t really matter unless you can turn them into information and knowledge.