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What Should A Data Scientist See in The Data He Gets

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ganeshan
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18 views

What Should A Data Scientist See in The Data He Gets

Uploaded by

ganeshan
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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What should a data scientist

see in the data he gets


What to see in the data?
• What is the business objective
• Whether price prediction, profit , churning,
• Key performance indicators
• Whether the attributes are related to the business objective
• Quality of the data
• Is the data relevant to the business objective
• Data completeness- Whether the data is complete.
• If not get it from the client
• Insights on the data like trends , patterns of the attributes
• Initial EDA for obtaining a better insights on the data
• Actionable insights
Business Objective
• The business objective for a data scientist typically revolves around leveraging data to drive informed decision-making and achieve
specific goals that contribute to the overall success of the business. These objectives can vary widely depending on the industry,
company, and current challenges or opportunities. However, some common business objectives for data scientists include:
• Optimizing Operations: Using data to streamline processes, improve efficiency, and reduce costs across various departments or
functions within the organization.
• Enhancing Customer Experience: Analyzing customer data to understand behaviors, preferences, and needs, and then using these
insights to personalize products, services, and marketing efforts to enhance the overall customer experience and satisfaction.
• Increasing Revenue: Identifying opportunities for upselling, cross-selling, or targeting new market segments based on data-driven
insights to drive revenue growth.
• Risk Management: Utilizing data analysis to identify and mitigate risks, such as fraud detection, compliance violations, or supply chain
disruptions, in order to protect the business and its stakeholders.
• Improving Product Development: Using data to gain insights into market trends, customer feedback, and product performance to
inform the development of new products or features that better meet customer needs and drive innovation.
• Predictive Analytics: Developing models and algorithms to forecast future trends, demand patterns, or business outcomes, enabling
proactive decision-making and strategic planning.
• Market Intelligence: Analyzing market data, competitor trends, and consumer sentiment to identify opportunities for market
expansion, competitive differentiation, or strategic partnerships.
• Ultimately, the business objective for a data scientist is to leverage data effectively to generate actionable insights that drive tangible
business value, whether it's in terms of cost savings, revenue generation, risk mitigation, or strategic growth.

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