Although economics is a social science itself, econometrics is a set of processes that lies within the boundaries of economics, acting as a tool that can be applied to raw data. Econometrics uses formulas of mathematics, statistics, and even computer science to help economists understand the data they acquire from studies and use it to comprehend the current system, as well as to infer possible outcomes in the future.
Ultimately, econometrics is a process meant to simplify the study of economics, as while economic studies will result in a variety of arbitrary numbers about the current trends occurring in a market or along a demographic line, the application of econometrics morphs these sets of numbers into understandable data sets. And of course, once an economist has access to a usable set of data, it is easy to formulate ideas and theories and even apply future policies in order to benefit those in the market.