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Data science helps solve business problems by

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6 views

Data science helps solve business problems by

Uploaded by

tobian2005
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Data science helps solve business problems by:

1. Customer Insights: Analyzes data to personalize marketing, segment customers, and


predict behavior.
2. Operational Efficiency: Optimizes inventory, resource allocation, and processes using
predictive analytics.
3. Market Strategy: Identifies trends and opportunities for better decision-making and
competitive advantage.
It turns raw data into actionable insights for growth and efficiency.

Long Q# 01
Data types in data science are foundational for choosing the right tools, techniques, and models.
Here's an overview:
1. Structured Data: Organized in rows and columns, such as spreadsheets or relational
databases (e.g., sales records, financial transactions). Ideal for traditional statistical
analysis, SQL querying, and machine learning models like regression or classification.
2. Unstructured Data: Lacks a predefined format, including text, images, videos, and
audio. Examples include social media posts, customer reviews, or multimedia files.
Specialized tools like NLP (Natural Language Processing) for text and computer vision
for images process this data type effectively.
3. Semi-Structured Data: Partially organized, with tags or markers (e.g., JSON, XML,
web logs). It bridges structured and unstructured data and is commonly used in APIs, web
scraping, and NoSQL databases.
4. Categorical Data: Represents discrete categories or labels (e.g., product types, customer
segments, or job titles). It’s essential for classification tasks, segmentation, and data
visualization using bar charts or pie graphs.
5. Numerical Data: Quantitative and can be continuous (e.g., height, weight) or discrete
(e.g., number of products sold). It’s critical for statistical analysis, trend forecasting, and
predictive modeling.
6. Time-Series Data: Indexed by time (e.g., stock prices, weather data, or website traffic).
It captures trends, seasonality, and patterns, making it crucial for forecasting using
models like ARIMA or deep learning techniques like LSTMs.
7. Geospatial Data: Related to geographic locations, such as GPS coordinates, maps, or
satellite imagery. It’s widely used in logistics, urban planning, environmental monitoring,
and resource allocation.

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