Posts

Showing posts with the label Dat Science

How Can Business Intelligence And Data Science Help Firms With Strategic Planning?

Image
  Introduction Data science is the study of data, and it is now particularly helpful in analytics and machine learning. Finding patterns and observations that are valuable and productive is made easier with the use of business intelligence and data science techniques. EDA investigates the data and aids in the discovery of whole new facets of it. The central equation in business is to maximize earnings while boosting organizational effectiveness. Business intelligence is the process of sifting through data to uncover insightful management information. Effective utilization of the data and conclusions can double a company's profits many times over. The static plan may be changed into a practical and future-proof system with the proper implementation. The system/model is not only ready but is also equipped with information and past experiences that will help it function effectively and adapt to changing conditions. Why Data Science? Data science, as we know it, combines tools, logic, ...

How To Spot Credit Card Fraud Using Data Science and ML techniques

Image
Credit card fraud detection has become increasingly sophisticated — leveraging high-quality data, advanced machine learning and analysis, and complex algorithms. Yet despite these advances, there are still gaps in our ability to detect fraud at an early stage, thus protecting your business from both the costs associated with false positives and the potential impact on your brand reputation and bottom line.  The FBI estimates that $7 billion worth of credit card data is stolen every year. The problem is getting worse: According to a recent study from IBM, more than 1 million cases of credit card fraud were reported in the US in 2018 alone. Crazy right?  This article will explore an overview of credit card fraud detection and ML techniques to detect fraud patterns in credit card data using machine learning algorithms such as decision trees or sequence models. What are the Challenges involved in fraud detection? Accurately huge amounts of data are processed daily, and the model d...

Why Is Data Science So Important and Overhyped?

Image
  As more and more businesses learn to understand the importance of data-driven decision-making, data science has emerged as one of the most in-demand skills in recent years. What is data science exactly, and why is it so valuable? This post will look at data science and some motivating factors for firms to hire data scientists. We'll also touch on a few of the abilities required for data scientists to succeed. This article is a fantastic place to start if you're interested in a career in data science. What is Data Science? The process of gaining knowledge from data is known as data science. It is an area of computer science focusing on data management, analysis, and mining. By giving firms insights into their data, data science enables them to make better decisions. Aspects of business, computer science, and statistics are combined in the discipline of data science, which is still relatively new. Data scientists are in charge of doing data analysis, spotting patterns, and fore...

Top Data Analyst Skills That Will Get You Promoted

Image
  Introduction Data Analytics and data science have become hot topics in today’s tech era and many people are pursuing them as their next career moves. This topic has been written about and discussed extensively on various platforms. What more could then be said than has already been said? Here are the top data analytics skills you should improve on in order to get a promotion to senior or managerial positions while also getting increments.   Data Visualization The time it takes to convey the information to your audience will usually take at least ten times as long as it takes you, the analyst, to analyze the data. As a result, graphics and other visual representations are crucial since they help people understand concepts even if they need to be more skilled in data analysis. You can make it easier for the decision-makers in your organization to quickly understand complex concepts by creating visualizations. So how can you develop these skills? Online classes and a varie...