1.2 Context

“Oil is valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals etc to create a valuable entity that drives profitable activity; so too must data be broken down, analyzed for it to have value.” Clive Humby (2006)

The world is very data rich and insights poor.

Domain specific knowledge is crucial in #dataScience, this is my new favourite picture to illustrate why!

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Source:

• Data is the new Oil — but are we making the most of it?

• Stop Hiring Data Scientists

• The Actual Difference Between Statistics and Machine Learning

• Best Data Science Overviews