I don't know how on-topic this question is but this seemed like the most fitting stackexchange site to post it on. If this doesn't fit here, please let me know and I'll close this question.

On topic now: suppose a hypothetical scenario in which the Earth receives a radio signal from space that we discover is in fact digitally encoding information. We keep receiving a continuous stream of data from this signal for a long time.

Given very long periods of time and huge exabytes worth of data over millions of years, constantly trying to decipher it, is it possible for us to be able to decode and understand their language and derive context from all that data (somehow extract information). Suppose that this stream of data are radio communications between aliens and it is unencrypted. However, the information is not encoded in Earth standards (like ASCII encoding or anything similar to what we use).

Is it possible and, if so, how would we start trying to make sense of this data? I imagine statistical analysis of some sort, as well as some understanding of linguistics is required to at least attempt to decode the data.

Suppose that we never meet these aliens, nor do we observe them. The only thing we know about them is the existence of this signal.

Is there even a field of science that specializes in such decoding of info?