Do you know the difference between data science and decision science? Or, do you get confused between data science and decision science? As businesses around the globe discover the value of Data Science, Big Data, and Machine Learning, the popularity of Data Scientists is steadily rising. It is undeniable that Data Scientists are geniuses who dig up concealed patterns from enormous databases. Still, hardly anyone is speaking about the valuable efforts of Decision Scientists, which are the heart and soul of the innovation and commercial sphere!
The terms “decision science” and “data science” are frequently interchanged, leading to confusion. The reason for this confusion is the similarity in the primary expertise required and the evaluation approaches.
Data Scientist vs Decision Scientist!
How do you differentiate between data science and decision science?
What is the difference between a decision scientist and a data scientist?
The answer is quite simple. Imagine you are the owner of a fashion label that sells women’s and men’s clothing. Now you want to understand how your business is performing to plan your next move. You have a smart team of data scientists who bring up some critical data indicating that your clients are more likely to be female than male. Further, it reports peak festival seasons to bring you more revenue, while the rest of the month is dull. Now what? What do you plan to do with this data? Here comes the saviour- The decision Scientist. A strong and competent decision scientist will thoroughly gauge the data and develop a strategy to fix the issue, focusing on what works and how to bring customers with the help of the obtained datasets.
Data science is concerned with gathering data and insights, while decision science is concerned with turning those insights into effective business decisions. Data and analytics play a crucial role in data science to generate valuable findings for business. In decision science, these data sets become its ground base along with experimental and descriptive studies to aid decision making. It is bound by disciplines like philosophy, economics, machine learning, probability, statistics, cognitive psychology, and extensive research and forecasting.
You must understand the difference between a decision scientist and a data scientist. A Decision Scientist takes a quantitative approach to help an organisation in decision-making.
A career in data science or decision science? What should you choose?
What does a data scientist do? Data scientists consider data processing, algorithms, statistics, and patterns while working. They are usually fascinated with discovering causal relationships and frequently engage in detailed research.
For Decision Scientists, anything related to the future of business and issues pertaining to it is essential. Decision scientists must have a clear picture of the business obstacles and be well prepared with behavioural understanding to make the best decision for the organisation.
Everything is now crystal clear. Anything related to decision science and data science is here for you, whether it’s about the job role, skills, or even salary. All you need is to think about what interests you and trust your instincts!