In the first article of this series, I had touched upon key concepts and processes of Data Science. In this article, I will dive in a bit deeper. First, I will define what is Statistical learning. Then, we will dive into key concepts in Statistical learning. Believe me; it is simple.

The article Data Scientist: The Sexiest Job of the 21st Century labeled this "new breed" of people; a hybrid of data hacker, analyst, communicator, and trusted adviser. Every organization is now making attempts to be more data-driven. Machine learning techniques have helped them in this endeavor. I realize that a lot of the material out there is too technical and difficult to understand. In this series of articles, my aim is to simplify Data Science.

In 2006, Clive Humbly, UK Mathematician, and architect of Tesco's Clubcard coined the phrase "Data is the new oil. "Data is the new oil. It's valuable, but if unrefined it cannot be used. It has to be changed into gas, plastic, chemicals, etc. to create a valuable entity that drives profitable activity; so, must data be broken down, analyzed for it to have value." The iPhone revolution, growth of the mobile economy, advancements in Big Data technology has created a perfect storm.

In the first article of this series, I had touched upon key concepts and processes of Data Science. In this article, I will dive in a bit deeper. First, I will define what is Statistical learning. Then, we will dive into key concepts in Statistical learning. Believe me; it is simple.