Tag Archive for: Data Engineering

Edward Huskin

In-memory Caching in Finance

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Big data has been gradually creeping into a number of industries through the years, and it seems there are no exceptions when it comes to what type of business it plans to affect. Businesses, understandably, are scrambling to catch up to new technological developments and innovations in the areas of data processing, storage, and analytics. Companies are in a race to discover how they can make big data work for them and bring them closer to their business goals. On the other hand, consumers are more concerned than ever about data privacy and security, taking every step to minimize the data they provide to the companies whose services they use. In today’s ever-connected, always online landscape, however, every company and consumer engages with data in one way or another, even if indirectly so.

Despite the reluctance of consumers to share data with businesses and online financial service providers, it is actually in their best interest to do so. It ensures that they are provided the best experience possible, using historical data, browsing histories, and previous purchases. This is why it is also vital for businesses to find ways to maximize the use of data so they can provide the best customer experience each time. Even the more traditional industries like finance have gradually been exploring the benefits they can gain from big data. Big data in the financial services industry refers to complex sets of data that can help provide solutions to the business challenges financial institutions and banking companies have faced through the years. Considered today as a business imperative, data management is increasingly leveraged in finance to enhance processes, their organization, and the industry in general.

How Caching Can Boost Performance in Finance

In computing, caching is a method used to manage frequently accessed data saved in a system’s main memory (RAM). By using RAM, this method allows quick access to data without placing too much load on the main data stores. Caching also addresses the problems of high latency, network congestion, and high concurrency. Batch jobs are also done faster because request run times are reduced—from hours to minutes and from minutes to mere seconds. This is especially important today, when a host of online services are available and accessible to users. A delay of even a few seconds can lead to lost business, making both speed and performance critical factors to business success. Scalability is another aspect that caching can help improve by allowing finance applications to scale elastically. Elastic scalability ensures that a business is equipped to handle usage peaks without impacting performance and with the minimum required effort.

Below are the main benefits of big data and in-memory caching to financial services:

  • Big data analytics integration with financial models
    Predictive modeling can be improved significantly with big data analytics so it can better estimate business outcomes. Proper management of data helps improve algorithmic understanding so the business can make more accurate predictions and mitigate inherent risks related to financial trading and other financial services.
    Predictive modeling can be improved significantly with big data analytics so it can better estimate business outcomes. Proper management of data helps improve algorithmic understanding so the business can make more accurate predictions and mitigate inherent risks related to financial trading and other financial services.
  • Real-time stock market insights
    As data volumes grow, data management becomes a vital factor to business success. Stock markets and investors around the globe now rely on advanced algorithms to find patterns in data that will help enable computers to make human-like decisions and predictions. Working in conjunction with algorithmic trading, big data can help provide optimized insights to maximize portfolio returns. Caching can consequently make the process smoother by making access to needed data easier, quicker, and more efficient.
  • Customer analytics
    Understanding customer needs and preferences is the heart and soul of data management, and, ultimately, it is the goal of transforming complex datasets into actionable insights. In banking and finance, big data initiatives focus on customer analytics and providing the best customer experience possible. By focusing on the customer, companies are able to Ieverage new technologies and channels to anticipate future behaviors and enhance products and services accordingly. By building meaningful customer relationships, it becomes easier to create customer-centric financial products and seize market opportunities.
  • Fraud detection and risk management
    In the finance industry, risk is the primary focus of big data analytics. It helps in identifying fraud and mitigating operational risk while ensuring regulatory compliance and maintaining data integrity. In this aspect, an in-memory cache can help provide real-time data that can help in identifying fraudulent activities and the vulnerabilities that caused them so that they can be avoided in the future.

What Does This Mean for the Finance Industry?

Big data is set to be a disruptor in the finance sector, with 70% of companies citing big data as a critical factor of the business. In 2015 alone, financial service providers spent $6.4 billion on data-related applications, with this spending predicted to increase at a rate of 26% per year. The ability to anticipate risk and pre-empt potential problems are arguably the main reasons why the finance industry in general is leaning toward a more data-centric and customer-focused model. Data analysis is also not limited to customer data; getting an overview of business processes helps managers make informed operational and long-term decisions that can bring the company closer to its objectives. The challenge is taking a strategic approach to data management, choosing and analyzing the right data, and transforming it into useful, actionable insights.

Gyan Vardhan

Web Scraping Using R..!

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In this blog, I’ll show you, How to Web Scrape using R..?

What is R..?

R is a programming language and its environment built for statistical analysis, graphical representation & reporting. R programming is mostly preferred by statisticians, data miners, and software programmers who want to develop statistical software.

R is also available as Free Software under the terms of the Free Software Foundation’s GNU General Public License in source code form.

Reasons to choose R

Reasons to choose R

Let’s begin our topic of Web Scraping using R.

Step 1- Select the website & the data you want to scrape.

I picked this website “https://www.alexa.com/topsites/countries/IN” and want to scrape data of Top 50 sites in India.

Data we want to scrape

Data we want to scrape

Step 2- Get to know the HTML tags using SelectorGadget.

In my previous blog, I already discussed how to inspect & find the proper HTML tags. So, now I’ll explain an easier way to get the HTML tags.

You have to go to Google chrome extension (chrome://extensions) & search SelectorGadget. Add it to your browser, it’s a quite good CSS selector.

Step 3- R Code

Evoking Important Libraries or Packages

I’m using RVEST package to scrape the data from the webpage; it is inspired by libraries like Beautiful Soup. If you didn’t install the package yet, then follow the code in the snippet below.

Step 4- Set the url of the website

Step 5- Find the HTML tags using SelectorGadget

It’s quite easy to find the proper HTML tags in which your data is present.

Firstly, I have to click on data using SelectorGadget which I want to scrape, it automatically selects the data which are similar to selected HTML tags. Before going forward, cross-check the selected values, are they correct or some junk data is also gets selected..? If you noticed our page has only 50 values, but you can see 156 values are selected.

Selection by SelectorGadget

Selection by SelectorGadget

So I need to remove unwanted values who get selected, once you click on them to deselect it, it turns red and others will turn yellow except our primary selection which turn to green. Now you can see only 50 values are selected as per our primary requirement but it’s not enough. I have to again cross-check that some required values are not exchanged with junk values.

If we satisfy with our selection then copy the HTML tag & include it into the code, else repeat this exercise.

Modified Selection by SelectorGadget

Step 6- Include the tag in our Code

After including the tags, our code is like this.

Code Snippet

If I run the code, values in each list object will be 50.

Data Stored in List Objects

Step 7- Creating DataFrame

Now, we create a dataframe with our list-objects. So for creating a dataframe, we always need to remember one thumb rule that is the number of rows (length of all the lists) should be equal, else we get an error.

Error appears when number of rows differs

Finally, Our DataFrame will look like this:

Our Final Data

Step 8- Writing our DataFrame to CSV file

We need our scraped data to be available locally for further analysis & model building or other purposes.

Our final piece of code to write it in CSV file is:

Writing to CSV file

Step 9- Check the CSV file

Data written in CSV file

Conclusion-

I tried to explain Web Scraping using R in a simple way, Hope this will help you in understanding it better.

Find full code on

https://github.com/vgyaan/Alexa/blob/master/webscrap.R

If you have any questions about the code or web scraping in general, reach out to me on LinkedIn!

Okay, we will meet again with the new exposer.

Till then,

Happy Coding..!

Data Science in Engineering Process - Product Lifecycle Management
Siemens Advanta Consulting

How to develop digital products and solutions for industrial environments?

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The Data Science and Engineering Process in PLM.

Huge opportunities for digital products are accompanied by huge risks

Digitalization is about to profoundly change the way we live and work. The increasing availability of data combined with growing storage capacities and computing power make it possible to create data-based products, services, and customer specific solutions to create insight with value for the business. Successful implementation requires systematic procedures for managing and analyzing data, but today such procedures are not covered in the PLM processes.

From our experience in industrial settings, organizations start processing the data that happens to be available. This data often does not fully cover the situation of interest, typically has poor quality, and in turn the results of data analysis are misleading. In industrial environments, the reliability and accuracy of results are crucial. Therefore, an enormous responsibility comes with the development of digital products and solutions. Unless there are systematic procedures in place to guide data management and data analysis in the development lifecycle, many promising digital products will not meet expectations.

Various methodologies exist but no comprehensive framework

Over the last decades, various methodologies focusing on specific aspects of how to deal with data were promoted across industries and academia. Examples are Six Sigma, CRISP-DM, JDM standard, DMM model, and KDD process. These methodologies aim at introducing principles for systematic data management and data analysis. Each methodology makes an important contribution to the overall picture of how to deal with data, but none provides a comprehensive framework covering all the necessary tasks and activities for the development of digital products. We should take these approaches as valuable input and integrate their strengths into a comprehensive Data Science and Engineering framework.

In fact, we believe it is time to establish an independent discipline to address the specific challenges of developing digital products, services and customer specific solutions. We need the same kind of professionalism in dealing with data that has been achieved in the established branches of engineering.

Data Science and Engineering as new discipline

Whereas the implementation of software algorithms is adequately guided by software engineering practices, there is currently no established engineering discipline covering the important tasks that focus on the data and how to develop causal models that capture the real world. We believe the development of industrial grade digital products and services requires an additional process area comprising best practices for data management and data analysis. This process area addresses the specific roles, skills, tasks, methods, tools, and management that are needed to succeed.

Figure: Data Science and Engineering as new engineering discipline

More than in other engineering disciplines, the outputs of Data Science and Engineering are created in repetitions of tasks in iterative cycles. The tasks are therefore organized into workflows with distinct objectives that clearly overlap along the phases of the PLM process.

Feasibility of Objectives
  Understand the business situation, confirm the feasibility of the product idea, clarify the data infrastructure needs, and create transparency on opportunities and risks related to the product idea from the data perspective.
Domain Understanding
  Establish an understanding of the causal context of the application domain, identify the influencing factors with impact on the outcomes in the operational scenarios where the digital product or service is going to be used.
Data Management
  Develop the data management strategy, define policies on data lifecycle management, design the specific solution architecture, and validate the technical solution after implementation.
Data Collection
  Define, implement and execute operational procedures for selecting, pre-processing, and transforming data as basis for further analysis. Ensure data quality by performing measurement system analysis and data integrity checks.
Modeling
  Select suitable modeling techniques and create a calibrated prediction model, which includes fitting the parameters or training the model and verifying the accuracy and precision of the prediction model.
Insight Provision
  Incorporate the prediction model into a digital product or solution, provide suitable visualizations to address the information needs, evaluate the accuracy of the prediction results, and establish feedback loops.

Real business value will be generated only if the prediction model at the core of the digital product reliably and accurately reflects the real world, and the results allow to derive not only correct but also helpful conclusions. Now is the time to embrace the unique chances by establishing professionalism in data science and engineering.

Authors

Peter Louis                               

Peter Louis is working at Siemens Advanta Consulting as Senior Key Expert. He has 25 years’ experience in Project Management, Quality Management, Software Engineering, Statistical Process Control, and various process frameworks (Lean, Agile, CMMI). He is an expert on SPC, KPI systems, data analytics, prediction modelling, and Six Sigma Black Belt.

Ralf Russ    

Ralf Russ works as a Principal Key Expert at Siemens Advanta Consulting. He has more than two decades experience rolling out frameworks for development of industrial-grade high quality products, services, and solutions. He is Six Sigma Master Black Belt and passionate about process transparency, optimization, anomaly detection, and prediction modelling using statistics and data analytics.4

Dan M

Test-data management  support in Test Automation Development

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Data is centric in testing of several applications because data is critical to organizations. Businesses are becoming more data-driven, and hence it is imperative that as Automation Test developers, the value of the test-data is understood and  completely harnessed during Test Automation development. The test-data involved in both Manual/Automation testing encompasses the test-data inputs, test-data outputs, and the test-data flow.

TestProject.io is the world’s first free cloud-based, community-powered test automation platform which caters to this important aspect of Test Automation development. The tool successfully adheres to the importance of keeping test-data centric in Automation Test solutions.

To start with, organizing and managing test data is very easy in TestProject. We are aware that as an application gets bigger and more tests are added, test data management becomes more difficult. This tool allows easy and clear management of the elements, tests, parameters by helping the Automation Test Developer associate data, be as an input or output in the UI as follows:

The tool makes the tests maintainable by allowing the Test data to be easily added, deleted, modified  making it  flexible in the perspective when business  requirements change. It also allows test data to be associated with Web, Android and iOS apps, allowing several types of input – web pages, JSON, PDFs etc. The test data can be also tested on several browsers such as Chrome, Firefox, Safari, Edge, Internet Explorer.

TestProject enables easy collaboration in a test automation team- by allowing/dis-allowing sharing of the test cases, test data etc as and when applicable. Eventually the team has shareable test repository which can be easily managed and controlled.

Sharing of parameters is available in levels –Test level and Project level. For example,

Hence, because of this, the test data can be easily re-usable, without having to mention the same test data repeatedly in some cases.

TestProject also has a “Secret Parameter” feature built in the smart test recorder that allows storing sensitive test data in an encrypted state.

There are also powerful Addons available in TestProject that can help the Automation Developers complete their tasks easily and quickly .For example, there are several  Random Data Generator Addons available. ‘Random Login Credentials Addon’ is one such Addon which generates random credentials to be entered for several tests.  Similarly, there are many more Random data generators available, such as for generating random dates, character/word/number etc as per several requirements. This definitely makes the job of an Automation developer much easier, and helps save time.

In TestProject, we can choose the input data source to be the default input parameters or to be associated with the data- driven method as follows :

The Data-driven Testing method of testing is necessarily important in cases when the coverage of any data variable comes into picture. We are aware that Data driven tests are tests that run multiple times, but with different values for some of the variables in the test. For example if you wanted to test that the username field on a login page could handle several different types of inputs you could create a separate test for each input, or you could use a data driven tests to drive the same login test multiple times, but just using a different username input each time. We are aware that Data-driven Testing is a very good approach if you have huge volumes of data to be tested for the same scripts.

One such support for Data driven testing in this tool is the Parameterization of variables. Once the parameters are added, like in the screenshot below, the parameter can be navigated to and picked for use.

In order to run a ‘Data-driven’ test, the Automation Developer would need to associate the test with various Data Sources. One such example is as follows, where the Developer can associate the test with the input CSV data source as follows:

Since it supports Data-driven test development, it results in stronger Test Coverage. That is, large volume of data can be managed and executed thereby improving regression testing and better coverage.

Speaking about data sources, TestProject also provides addons that help to work with several database as PostgreSQL, MySQL, MSSQL, Db2, Oracle. The tool can be easily linked with the databases by providing details as:

All this also shows the fact that the tool clearly separates the test cases and the test data and hence allows testers to test their applications using different data values and parameters without the need for changing test script/cases. While making a change in data sets such as addition, or deletion, doesn’t have implication with test cases.

Also, once the test is generated by the Automation developer, it can be viewed both in the ‘Manual Test’ view or the ‘Test document’ view. In both cases, once either of the options are chosen and they are downloaded, the test data is clearly mentioned in their respective columns in the documents.

For example, the ‘Manual Test’ document that gets generated automatically shows the Test Data used as,

And, the ‘Test’ document that gets generated automatically shows the Test Data’s default values used as,

While assesing the test results,  the tool clearly gives details on failures, helping the automation developer to easily debug the issue/ decide to open a defect. For example, the details are clearly showed as :

TestProject.io tool can also be easily integrated with many other tools, such as Jenkins, qTest, Slack etc, and the testcases/test data etc are easily synced during this association. Example, in the cases of Jenkins, we can associate the build step by linking it with the TestProject data source as follows:

Eventually, TestProject has emerged as a powerful test Automation framework, having very attractive features especially to the fact that it imparts the value of Test-data being centric in the  Automation Test tasks. Along with the fact that the tool supports the ideology of having the test-data to be the driving base to the whole Test Automation framework process, it  also enables sharing and syncing with other teams and tools during the development, management and execution of the Test Automation Solution.

Benjamin Aunkofer

Interview – Python as productive data science environment

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Miroslav Šedivý is a Senior Software Architect at UBIMET GmbH, using Python to make the sun shine and the wind blow. He is an enthusiast of both human and programming languages and found Python as his language of choice to setup very productive environments. Mr. Šedivý was born in Czechoslovakia, studied in France and is now living in Germany. Furthermore, he helps in the organization of the events PyCon.DE and Polyglot Gathering.

On 26th June 2018 he will explain at the Python@DWX conference why “Lifelong Text Hackers Use Vim and Python”. Insert the promotion code PY18science to unlock your 10% discount on all tickets. More info and tickets on python-con.com.

Data Science Blog: Mr. Šedivý, how did you find the way to Python as your favorite programming language?

Apart from traditional languages taught at school (Basic, Pascal, C, Java), some twenty years ago I learned Perl to hack a dynamic web site and used it to automate my daily tasks. Later I used it professionally for scientific calculations in the production. This was later replaced by Python, its newer versions and more advanced libraries. Nowadays Python has almost completely replaced Perl as my principal language and I use Perl just to hack some command line filters and to impress colleagues.

Data Science Blog: Python is one of the most popular programming language for data scientists. This is remarkable as it is originally not designed for doing data science with it. What made it a competitor to languages like R or Julia?

Python is the most powerful programming language that is still legible. This appeals to data scientists who can enter each line interactively, and immediately see what happens, because each line actually does something. They can inspect their data easily and build automating systems to process their data transparently.

Data Science Blog: Is there anything you could do better with another programming language?

Sometimes I’m playing with some functional languages that would allow me to write code that is easier to test and parallelize.

Data Science Blog: Which libraries are the most important ones for your daily business?

The whole Pandas ecosystem with Numpy and Scipy. Matplotlib for plots, PyTables and Psycopg2 for storage. I’m also importing a few async libs for webservices and similar network-based software.

I also enjoy discovering the world of Unicode and Timezones – both of them are the spots where the programmers absolutely have to obey the chaotic reality of the outside world.

Data Science Blog: Which editor do you use? And how to set it up as a productive environment?

I tried several editors and IDEs, but always came back to Vi or Vim. This is an extremely powerful editor that is around since over forty years, which was probably before most of today’s active developers learned to type. I’m using it for all text editing tasks, which I’m actually going to show in my talk at DWX [Lifelong Text Hackers Use Vim and Python]. Steep learning curve is not an argument against a tool you can grok during your entire career.

Data Science Blog: In your opinion: For all developers and data scientists, who are used to Java, Scala, R oder Perl, is Python easy to learn? Could it be too late to switch for somebody?

Python is a great general language that can be learned rapidly to a usable level. It’s different from the aforementioned languages. I remember my switching process from Perl to Python over ten years ago with a book “Perl to Python Migration”, which forced me to switch my way of thinking. From the question “Why do I have to import ‘re’ for regular expressions if Perl uses them natively?” to “Actually, I can solve this problem without regular expressions.”.

Editorial Staff

New Sponsor: Snowflake

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Dear readers,

we have good news again: Now we welcome snowflake as our new Data Science Blog Sponsor! So we are booked out for the moment regarding sponsoring. Snowflake provides data warehousing for the cloud and has an unique data, access and feature model, the snowflake. Now we are looking forward to editorial contributions by snowflake.

Snowflake is the only data warehouse built for the cloud. Snowflake delivers the performance, concurrency and simplicity needed to store and analyze all data available to an organization in one location. Snowflake’s technology combines the power of data warehousing, the flexibility of big data platforms, the elasticity of the cloud, and live data sharing at a fraction of the cost of traditional solutions. Snowflake: Your data, no limits. Find out more at snowflake.net.

Furthermore, snowflake will also sponsor our Data Leader Days 2018 in November in Berlin!

Benjamin Aunkofer

Show your Data Science Workplace!

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The job of a data scientist is often a mystery to outsiders. Of course, you do not really need much more than a medium-sized notebook to use data science methods for finding value in data. Nevertheless, data science workplaces can look so different and, let’s say, interesting. And that’s why I want to launch a blog parade – which I want to start with this article – where you as a Data Scientist or Data Engineer can show your workplace and explain what tools a data scientist in your opinion really needs.

I am very curious how many monitors you prefer, whether you use Apple, Dell, HP or Lenovo, MacOS, Linux or Windows, etc., etc. And of course, do you like a clean or messy desk?

What is a Blog Parade?

A blog parade is a call to blog owners to report on a specific topic. Everyone who participates in the blog parade, write on their blog a contribution to the topic. The organizer of the blog parade collects all the articles and will recap those articles in a short form together, of course with links to the articles.

How can I participate?

Write an article on your blog! Mention this blog parade here, show and explain your workplace (your desk with your technical equipment) in an article. If you’re missing your own blog, articles can also be posted directly to LinkedIn (LinkedIn has its own blogging feature that every LinkedIn member can use). Alternative – as a last resort – it would also be possible to send me your article with a photo about your workplace directly to: redaktion@data-science-blog.com.
Please make me aware of an article, via e-mail or with a comment (below) on this article.

Who can participate?

Any data scientist or anyone close to Data Science: Everyone concerned with topics such as data analytics, data engineering or data security. Please do not over-define data science here, but keep it in a nutshell, so that all professionals who manage and analyze data can join in with a clear conscience.

And yes, I will participate too. I will propably be the first who write an article about my workplace (I just need a new photo of my desk).

When does the article have to be finished?

By 31/12/2017, the article must have been published on your blog (or LinkedIn or wherever) and the release has to be reported to me.
But beware: Anyone who has previously written an article will also be linked earlier. After all, reporting on your article will take place immediately after I hear about it.
If you publish an artcile tomorrow, it will be shown the day after tomorrow here on the Data Science Blog.

What is in it for me to join?

Nothing! Except perhaps the fun factor of sharing your idea of ​​a nice desk for a data expert with others, so as to share creativity or a certain belief in what a data scientist needs.
Well and for bloggers: There is a great backlink from this data science blog for you 🙂

What should I write? What are the minimum requirements of content?

The article does not have to (but may be) particularly long. Anyway, here on this data science blog only a shortened version of your article will appear (with a link, of course).

Minimum requirments:

  • Show a photo (at least one!) of your workplace desk!
  • And tell us something about:
    • How many monitors do you use (or wish to have)?
    • What hardware do you use? Apple? Dell? Lenovo? Others?
    • Which OS do you use (or prefer)? MacOS, Linux, Windows? Virtual Machines?
    • What are your favorite databases, programming languages and tools? (e.g. Python, R, SAS, Postgre, Neo4J,…)
    • Which data dou you analyze on your local hardware? Which in server clusters or clouds?
    • If you use clouds, do you prefer Azure, AWS, Google oder others?
    • Where do you make your notes/memos/sketches. On paper or digital?

Not allowed:
Of course, please do not provide any information, which could endanger your company`s IT security.

Absolutly allowed:
Bringing some joke into the matter 🙂 We are happy to vote in the comments on the best or funniest desk for election, there may be also a winner later!

The resulting Blog Posts: https://data-science-blog.com/data-science-insights/show-your-desk/

 

Benjamin Aunkofer

Data Science vs Data Engineering

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The job of the Data Scientist is actually a fairly new trend, and yet other job titles are coming to us. “Is this really necessary?”, Some will ask. But the answer is clear: yes!

There are situations, every Data Scientist know: a recruiter calls, speaks about a great new challenge for a Data Scientist as you obviously claim on your LinkedIn profile, but in the discussion of the vacancy it quickly becomes clear that you have almost none of the required skills. This mismatch is mainly due to the fact that under the job of the Data Scientist all possible activity profiles, method and tool knowledge are summarized, which a single person can hardly learn in his life. Many open jobs, which are to be called under the name Data Science, describe rather the professional image of the Data Engineer.

Read this article in German:
“Data Science vs Data Engineering – Wo liegen die Unterschiede?“

What is a Data Engineer?

Data engineering is primarily about collecting or generating data, storing, historicalizing, processing, adapting and submitting data to subsequent instances. A Data Engineer, often also named as Big Data Engineer or Big Data Architect, models scalable database and data flow architectures, develops and improves the IT infrastructure on the hardware and software side, deals with topics such as IT Security , Data Security and Data Protection. A Data Engineer is, as required, a partial administrator of the IT systems and also a software developer, since he or she extends the software landscape with his own components. In addition to the tasks in the field of ETL / Data Warehousing, he also carries out analyzes, for example, to investigate data quality or user access. A Data Engineer mainly works with databases and data warehousing tools.

A Data Engineer is talented as an educated engineer or computer scientist and rather far away from the actual core business of the company. The Data Engineer’s career stages are usually something like:

  1. (Big) Data Architect
  2. BI Architect
  3. Senior Data Engineer
  4. Data Engineer

What makes a Data Scientist?

Although there may be many intersections with the Data Engineer’s field of activity, the Data Scientist can be distinguished by using his working time as much as possible to analyze the available data in an exploratory and targeted manner, to visualize the analysis results and to convert them into a red thread (storytelling). Unlike the Data Engineer, a data scientist rarely sees into a data center, because he picks up data via interfaces provided by the Data Engineer or provides by other resources.

A Data Scientist deals with mathematical models, works mainly with statistical procedures, and applies them to the data to generate knowledge. Common methods of Data Mining, Machine Learning and Predictive Modeling should be known to a Data Scientist. Data Scientists basically work close to the department and need appropriate expertise. Data Scientists use proprietary tools (e.g. Tools by IBM, SAS or Qlik) and program their own analyzes, for example, in Scala, Java, Python, Julia, or R. Using such programming languages and data science libraries (e.g. Mahout, MLlib, Scikit-Learn or TensorFlow) is often considered as advanced data science.

Data Scientists can have diverse academic backgrounds, some are computer scientists or engineers for electrical engineering, others are physicists or mathematicians, not a few have economical backgrounds. Common career levels could be:

  1. Chief Data Scientist
  2. Senior Data Scientist
  3. Data Scientist
  4. Data Analyst oder Junior Data Scientist

Data Scientist vs Data Analyst

I am often asked what the difference between a Data Scientist and a Data Analyst would be, or whether there would be a distinction criterion at all:

In my experience, the term Data Scientist stands for the new challenges for the classical concept of Data Analysts. A Data Analyst performs data analysis like a Data Scientist. More complex topics such as predictive analytics, machine learning or artificial intelligence are topics for a Data Scientist. In other words, a Data Scientist is a Data Analyst++ (one step above the Data Analyst).

And how about being a Business Analyst?

Business Analysts can (but need not) be Data Analysts. In any case, they have a very strong relationship with the core business of the company. Business Analytics is about analyzing business models and business successes. The analysis of business success is usually carried out by IT, and many business analysts are starting a career as Data Analyst now. Dashboards, KPIs and SQL are the tools of a good business analyst, but there might be a lot business analysts, who are just analysing business models by reading the newspaper…

Mathias Golombek

Data Science on a large scale – can it be done?

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Analytics drives business

In today’s digital world, data has become the crucial success factor for businesses as they seek to maintain a competitive advantage, and there are numerous examples of how companies have found smart ways of monetizing data and deriving value accordingly.

On the one hand, many companies use data analytics to streamline production lines, optimize marketing channels, minimize logistics costs and improve customer retention rates.  These use cases are often described under the umbrella term of operational BI, where decisions are based on data to improve a company’s internal operations, whether that be a company in the manufacturing industry or an e-commerce platform.

On the other hand, over the last few years, a whole range of new service-oriented companies have popped up whose revenue models wholly depend on data analytics.  These Data-Driven Businesses have contributed largely to the ongoing development of new technologies that make it possible to process and analyze large amounts of data to find the right insights.  The better these technologies are leveraged, the better their value-add and the better for their business success.  Indeed, without data and data analytics, they don’t have a business.

Data Science – hype or has it always been around?Druck

In my opinion, there is too much buzz around the new era of data scientists.  Ten years ago, people simply called it data mining, describing similar skills and methods.  What has actually changed is the fact that businesses are now confronted with new types of data sources such as mobile devices and data-driven applications rather than statistical methodologies.  I described that idea in detail in my recent post Let’s replace the Vs of Big Data with a single D.

But, of course, you cannot deny that the importance of these data crunchers has increased significantly. The art of mining data mountains (or perhaps I should say “diving through data lakes”) to find appropriate insights and models and then find the right answers to urgent, business-critical questions has become very popular these days.

The challenge: Data Science with large volumes?

Michael Stonebraker, winner of the Turing Award 2014, has been quoted as saying: “The change will come when business analysts who work with SQL on large amounts of data give way to data EXASOL Pipelinescientists, which will involve more sophisticated analysis, predictive modeling, regressions and Bayesian classification. That stuff at scale doesn’t work well on anyone’s engine right now. If you want to do complex analytics on big data, you have a big problem right now.”

And if you look at the limitations of existing statistical environments out there using R, Python, Java, Julia and other languages, I think he is absolutely right.  Once the data scientists have to handle larger volumes, the tools are just not powerful and scalable enough.  This results in data sampling or aggregation to make statistical algorithms applicable at all.

A new architecture for “Big Data Science”

We at EXASOL have worked hard to develop a smart solution to respond to this challenge.  Imagine that it is possible to use raw data and intelligent statistical models on very large data sets, directly at the place where the data is stored.  Where the data is processed in-memory to achieve optimal performance, all distributed across a powerful MPP cluster of servers, in an environment where you can now “install” the programming language of your choice.

Sounds far-fetched?  If you are not convinced, then I highly recommend you have a look at our brand-new in-database analytic programming platform, which is deeply integrated in our parallel in-memory engine and extensible through using nearly any programming language and statistical library.

For further information on our approach to big data science, go ahead and download a copy of our technical whitepaper:  Big Data Science – The future of analytics.