Two members of the IE Business School at IE University made an introductory talk on data science and big data to journalism and International Relations students, on Thursday, November 2 in the Lillian K. Beam Building’s software lab.

Marcos Ramirez Amoretti (Senior Associate Director - Data Science & Technology at IE University) and Joao Pedro Lopes (Associate Director of International Business Development for Middle East and Africa – IE Business School) introduced the concept of big data and explained its uses by the financial community in Spain.

While big data consists of large data sets that can be analysed using computational algorithm to reveal patterns, trends and associations in different areas, data science is a field comprising scientific systems, processes and techniques used to extract knowledge or insights from data in various forms as either structures or unstructured.

Both speakers dwelt on the prominence received by big data in light of the current data explosion the world over, which has propelled businesses towards data driven decisions. They were able to expound on the types of decisions, businesses can make based on the insights gleaned from the big data visualization of financial transactions across Spain.

Later on, the audience was split into groups and tasked with activities that emphasized problem-solving using data sets and data collection.