Data science essentials in business administration: A multidisciplinary perspective

Abstract

This study presents an overview of data science, exploring the role of data scientists and the methods they employ to investigate analytical problems within business administration. It discusses the responsibilities of data scientists, emphasizing their multidisciplinary nature and the importance of technical skills, domain knowledge, and effective communication. The paper outlines commonly utilized methods by data scientists, drawing from computer science, statistics, and operations research. It illustrates the practical application of these methods in addressing analytical problems, including descriptive analytics, predictive analytics, and prescriptive analytics. The paper also highlights potential pitfalls and challenges encountered in the analytic process, such as problem formulation errors and results interpretation.