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Business Data Analytics Introduction to Data Science for Business Decision

Data science involves extracting insights from data to inform business strategies, following stages such as data capture, storage, processing, analysis, and communication. Each stage is critical for ensuring data accuracy and relevance, ultimately aiding in decision-making. Data transformation is essential for preparing raw data into a usable format that supports effective analysis and organizational growth.

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4 views

Business Data Analytics Introduction to Data Science for Business Decision

Data science involves extracting insights from data to inform business strategies, following stages such as data capture, storage, processing, analysis, and communication. Each stage is critical for ensuring data accuracy and relevance, ultimately aiding in decision-making. Data transformation is essential for preparing raw data into a usable format that supports effective analysis and organizational growth.

Uploaded by

sabariaccts2000
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Data Analytics Introduction to Data Science for Business Decision-making Data Science?

Data science is the study of data to extract insights and develop strategies for businesses and
industries. Data Science is a structured approach to extracting valuable insights from data Stages of
Data Science 1. Data Capture: In this initial step, data is gathered from diverse sources such as
databases, online platforms, or manual entry. It’s crucial to collect relevant and accurate data to lay
a solid foundation for analysis. 2. Data Storage and Maintenance: Once collected, the data
undergoes cleaning and normalization to remove errors and inconsistencies. This ensures that the
data is organized and stored efficiently for further processing. 3. Data Processing: During this phase,
advanced techniques like machine learning and statistical analysis are applied to the prepared data.
The goal is to uncover patterns, trends, and relationships that can provide valuable insights for
decision-making. 4. Data Analysis: In this stage, the processed data is analyzed using various
methods such as regression, predictive analysis, and qualitative techniques. These analyses help in
understanding past trends, making future predictions, and identifying areas for improvement. 5.
Communication: The insights derived from data analysis are communicated to stakeholders through
reports, dashboards, and visualizations. Clear and concise communication is essential to ensure that
decision-makers understand the findings and can take appropriate actions. Data transformation Data
transformation is the process of converting, cleaning, and structuring data into a usable format for
analysis. It prepares raw data by modifying its format, structure, or values to match target systems
or analysis requirements, supporting accurate decision-making and organizational growth. Process of
Transformation of Data to Decision Relevant Information The process of transforming data into
information

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