Tag Archives: big data

What Is Data Science Anyway?

Data Science, Big Data, Predictive Analytics, Advanced Analytics…what exactly does it all mean?  What if anything does it have to do with the Academy Awards? The Awards are given for art, not science, but the awarding of the statuettes is a process undertaken by a panel of around 5,000 humans that can be understood, and dare we say forecast, using data science.

All of those fancy terms refer to the application of rigorous statistical methods, mathematical analysis, and “machine learning” to better analyze information.  And ultimately, the goal is to use that analysis for better decision-making.
Technology – computing power, data transmission, the internet, the ubiquity of computers, social networking, communications and mobile devices – all of these incredible innovations have exponentially increased our ability and opportunity to collect, store and process data.  Thus evolved, and continues to evolve, modern “data science” – the discipline of analyzing and applying data for real world business solutions.

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Farsite Takes to the Red Carpet with the 2013 Oscar Forecast

Data science, one of the top stories of the 2012 election, is a fast growing field.  We are the geeks who love numbers and dream in 1s and 0s.  In fact, we enjoy data so much that we built a company that helps customers harness the power of data to make better business decisions.   And, we decided this year to have a little fun with the numbers; We are pleased to announce the launch our 2013 Oscar Forecast.

We have all participated in an office Oscar pool, or wagered with our friends, as we watched the Academy Awards.  But, unlike the elections, the Oscars don’t get the star data treatment they deserve.  Sure, there are pundits at the LA Times, Variety, The Hollywood Reporter and Deadline.com.  In a world rich with data (yes, Hollywood is data rich!), Farsite is excited to bring Big Data to the big screen, and join those pundits in conversation about who will win.

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