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Introduction Data Science

Introduction

Data Science

Introduction Data Science
Thomas Davenport ”ORGANIZATIONS THAT FAIL TO INVEST IN THE PROPER ANALYTIC TECHNOLOGIES WILL BE UNABLE TO

Thomas Davenport

”ORGANIZATIONS THAT FAIL TO INVEST IN THE PROPER ANALYTIC

TECHNOLOGIES WILL BE UNABLE TO COMPETE IN A FACT-BASED BUSINESS

ENVIRONMENT”

Thomas Davenport ”ORGANIZATIONS THAT FAIL TO INVEST IN THE PROPER ANALYTIC TECHNOLOGIES WILL BE UNABLE TO

Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of

Data Science

A multi-disciplinary field:

Data Science • A multi-disciplinary field: – Statistics & Probability – Machine Learning and Data Mining

Statistics & Probability Machine Learning and Data Mining Pattern Recognition Natural Language Processing and Text Mining Prescriptive Analytics and Mathematical Optimization Information Retrieval Statistical Computing Languages

Data Science • A multi-disciplinary field: – Statistics & Probability – Machine Learning and Data Mining

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Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of

Types of Analytics

Types of Analytics • Descriptive Analytics • Predictive Analytics • Prescriptive Analytics • Text Analytics •

Descriptive Analytics Predictive Analytics

Prescriptive Analytics Text Analytics

Massively Analytics

large

scale

Data

Analysis

BigData

Types of Analytics • Descriptive Analytics • Predictive Analytics • Prescriptive Analytics • Text Analytics •

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Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
BI (Reporting) vs. Analytics (1/5) | Business Objectives • Reporting: Reporting solutions will help you measure

BI (Reporting) vs. Analytics (1/5) | Business Objectives

Reporting: Reporting solutions will help you measure performance of various business entities relative to business plan or target. It will help you convert data

into information

Analytics: Analytical solutions will help you identify new products, customer segments, reduce cost, risk & fraud. It will help you convert information into

knowledge.

BI (Reporting) vs. Analytics (1/5) | Business Objectives • Reporting: Reporting solutions will help you measure

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BI (Reporting) vs. Analytics (2/5) | Information Output • Reporting: Reporting solution output will help you

BI (Reporting) vs. Analytics (2/5) | Information Output

Reporting: Reporting solution output will help you quantify past performance.

Analytics: Analytical solution output will help you infer unknown facts and relationships. It will also help you quantify future probabilities.

Example: Reporting solution will tell you about best selling products in your portfolio whereas analytical

solution will tell you about probability of buying a

BI (Reporting) vs. Analytics (2/5) | Information Output • Reporting: Reporting solution output will help you

particular product when your customer visits your

BI (Reporting) vs. Analytics (3/5) | Output • Reporting: Historical standard reports, dashboards, KPIs, cubes for

BI (Reporting) vs. Analytics (3/5) | Output

Reporting: Historical standard reports, dashboards, KPIs, cubes for OLAP.

Analytics: Predictive models, scores, forecasts. Example

Reporting: Top 10 products by revenue, Top 10 customers by region

Analytics: Cross Sell/Up Sell Model, Forecasting by Product by Region by Time

BI (Reporting) vs. Analytics (3/5) | Output • Reporting: Historical standard reports, dashboards, KPIs, cubes for

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BI (Reporting) vs. Analytics (4/5) | Quires • Reporting: Known, simple queries which can be easily

BI (Reporting) vs. Analytics (4/5) | Quires

Reporting: Known, simple queries which can be easily optimized.

Analytics: Queries that become very complex as they evolve via iteration.

Example

Reporting solution will help you answer the following questions

What happened? When did it happen?

How many? How often? Where?

Where exactly is the problem? How do I find the answers?

Analytical solution will help you answer the following questions

Why is it happening? What opportunities am I missing?

What if these trends continue? How much is needed? When will it be needed?

What will happen next? How will it affect my business?

How do we do things better? What is the best decision for a complex problem?

BI (Reporting) vs. Analytics (4/5) | Quires • Reporting: Known, simple queries which can be easily

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Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Role of Data Scientist • Analytical Strategy for an organization • Understanding Business, Process flow, Data,

Role of Data Scientist

Analytical Strategy for an organization Understanding Business, Process flow, Data, etc. Exploratory Data Analysis New Analytical Models

Developing

Machine

Learning,

Natural

Processing, etc. Algorithms

Language

Role of Data Scientist • Analytical Strategy for an organization • Understanding Business, Process flow, Data,

Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Data Science in Industry Verticals Customer, Marketing & Sales Analytics Forensic Analytics Supply Chain Optimization Human

Data Science in Industry Verticals

Customer, Marketing & Sales Analytics

Forensic Analytics

Supply Chain Optimization Human Capital Analytics

Information & Content Management

Financial Services

Public

Distribution

Industrial

Communications

Financial Services Public Distribution Industrial Communications Financial Crimes Insurance Predictive Credit Card Anti-Fraud Fraud and Abuse

Financial Crimes Insurance Predictive Credit Card Anti-Fraud Fraud and Abuse Mgt Advanced Case Management Sales & Operations Planning

Integrated Airport Operations Client Insights e-Federation Tax Collection Optimization Tax, Audit and Compliance Crime Information Warehouse Customs Risk Management Government Trusted Identity

Market Basket Analysis Freshness Analytics Store Operations P&L Out of Stocks Management SKU Rationalization Inventory Planning PLI Global Location

Pricing Models Predictive weather models Enterprise Forecasting Intelligent Asset Management Location Awareness Fleet Management Intelligent Fields

Fraud Analytics Warranty Digital Supply Chain Bad Debt Management Advertising Analytics Mobile Commerce Analytics Network Auto Cell Traffic Partner Settlements

Predictive Call Routing System for Contact Centers Customer Portfolio Optimization

Financial Services Public Distribution Industrial Communications Financial Crimes Insurance Predictive Credit Card Anti-Fraud Fraud and Abuse

Social Media Brand Recognition and Analysis

Financial Services Public Distribution Industrial Communications Financial Crimes Insurance Predictive Credit Card Anti-Fraud Fraud and Abuse

Fraud & Abuse Management System Credit Card Anti-Fraud System

Financial Services Public Distribution Industrial Communications Financial Crimes Insurance Predictive Credit Card Anti-Fraud Fraud and Abuse

Early

Warning Analytics

Dynamic Inventory Optimization Solution

Supply Chain

Risk Management

Supply Chain Visibility and Event Monitoring

Workforce Analytics

Data Governance Enterprise Content Management

Customer and Industry-based Data Integration

Data Science in Industry Verticals Customer, Marketing & Sales Analytics Forensic Analytics Supply Chain Optimization Human

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Contents

Data Science Types of Analytics BI (Reporting) vs. Analytics Role of Data Scientist Data Science in Industry Verticals Reference Material

Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of
Contents • Data Science • Types of Analytics • BI (Reporting) vs. Analytics • Role of

Reference Material

Reference Material • Competing on Analytics: The New Science of Winning by Thomas H. Davenport •

Competing on Analytics: The New Science of Winning by Thomas H. Davenport Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die by Eric Siegel, Thomas H. Davenport The New Know - Innovation Powered by Analytics by Thornton May Foundations of Predictive Analytics by James Wu, and Stephen Coggeshall Data Finds Data by Jeff Jonas and Lisa Sokol

Reference Material • Competing on Analytics: The New Science of Winning by Thomas H. Davenport •

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INQUIRIES AND QUESTIONS

Abbas Raza Ali abbas.raza.ali@percipienceanalytics.com

INQUIRIES AND QUESTIONS Abbas Raza Ali abbas.raza.ali@percipienceanalytics.com
INQUIRIES AND QUESTIONS Abbas Raza Ali abbas.raza.ali@percipienceanalytics.com