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II. Data Sci & ML: Chs 6-7 - ARMDAT

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Section II: Data Science and ML
Data science is the broader field that turns raw data into insights, while machine learning (ML) is one of the main methods used to do that. In practice, data science prepares and studies the data, and machine learning builds models that learn patterns from it and make predictions.
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Machine Learning in Asset Prediction
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AI Model Validation and Explainability
Understand the Linkage
Data science is usually more focused on insight, interpretation, and communication, while machine learning is more focused on model building, optimization, and automation. They overlap heavily, but data science asks, “What is happening and why?” while machine learning asks, “Can we learn a rule that predicts what happens next?”.

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