Use of the term Data Science is increasingly common, but what does it exactly mean?
What skills do you need to become Data Scientist?
How is this different from what statisticians have been doing for years?
On the other hand, Data Scientist not only does the exploratory analysis to discover insights from it, but also uses various advanced machine learning algorithms to identify the occurrence of a particular event in the future.
Say, if you are providing money on credit, then the probability of customers making future credit payments on time is a matter of concern for you.
If you want a model which has the intelligence of taking its own decisions and the ability to modify it with dynamic parameters, you certainly need prescriptive analytics for it.