ECON 1 Lecture Notes - Lecture 13: Supervised Learning, Netflix, Data Science
Document Summary
(i) to understand its relationships to these other important and closely related concepts, (ii) to begin to understand what are the fundamental principles underlying data science. Data science and its relationship to big data and data-driven decision making by. Provost and fawcett in order for data science to serve business effectively, it is important. Data science is a set of fundamental principles that support and guide the principled extraction of information and knowledge from data. Data mining the actual extraction of knowledge from data via technologies that incorporate these principles. Walmart case: analysis showed, which products had to be in stock in sufficient amounts, which products increased in sales rates ahead of a hurricane (strawberry pop tarts and beer) Megatelco case: problem of retention of customers, if we can improve ability to estimate how profitable it would be to focus on a specific customer, we can benefit by applying this to the millions of customers.
