Data science is an interdisciplinary field of scientific methods, processes, algorithms and systems to extract knowledge or insights from data in various forms, either structured or unstructured, similar to data mining.

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Econometrics

Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". The first known use of the term "econometrics" (in cognate form) was by Polish economist Paweł Ciompa in 1910. Jan Tinbergen is considered by many to be one of the founding fathers of econometrics. Ragnar Frisch is credited with coining the term in the sense in which it is used today.

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Science

Science (from Latin scientia, meaning "knowledge") is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.

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Science

I was particularly interested in that, in working on Jurassic Park that aspect of what are the negative parts. Because in talking with the people who were doing this kind of research what I was hearing was that the most responsible of them were deciding not to proceed down certain lines of inquiry which is really a new phase in science. Traditionally in science what the scientists themselves have said is: "I might as well do it, because if I don't, someone else will. It is going to happen inevitably." I think there's recognition now, that it's no so inevitable and it's quite conceivable that if I don't do this research neither will anyone else. It's simply too dangerous.

Michael Crichton, interview Lost World section of Beyond Jurassic Park DVD.

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Econometrics

The successes of modern control theory in the design of highly accurate space navigation systems have stimulated its use in the theoretical analyses of economic and biological systems. Similarly, the effectiveness of computer simulation techniques in the macroscopic analyses of physical systems has brought into vogue the use of computer-based econometric models for purposes of forecasting, economic planning, and management.

Lotfi A. Zadeh Outline of a new approach to the analysis of complex systems and decision processes (1973) p. 28

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Econometrics

In mathematical statistics, as well as econometrics, Ted Anderson is a scholar of immense stature. The scope and diversity of his research in statistical theory is almost a phenomenon in itself. Sometimes it seems that wherever one turns the subject, Ted's mark and influence is already firmly established. His books on multivariate analysis and time series rapidly became accepted as major treatises and are now integral parts of the bookshelves of every statistician.

Phillips, Peter CB. "The ET interview: Professor TW Anderson." Econometric Theory, 2.02 (1986): 249-288.

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