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Example: For a project to optimize supply chain operations, the scope might include creating dashboards for inventory tracking but exclude advanced predictiveanalytics in the first phase. Key questions to ask: What data sources are required? Are there any data gaps that need to be filled?
Understanding these enhances insights into data management challenges and opportunities, enabling organisations to maximise the benefits derived from their data assets. Veracity Veracity refers to the trustworthiness and accuracy of the data. Value Value emphasises the importance of extracting meaningful insights from data.
Understanding these enhances insights into data management challenges and opportunities, enabling organisations to maximise the benefits derived from their data assets. Veracity Veracity refers to the trustworthiness and accuracy of the data. Value Value emphasises the importance of extracting meaningful insights from data.
Application of Data Science in Healthcare Data Science in healthcare revolutionizes patient care by enabling early disease detection, personalizing treatment plans, optimizing hospital operations, and enhancing patient engagement. Example: Predicting Heart Disease Heart disease is a leading cause of death worldwide.
PredictiveAnalyticsPredictiveanalytics involves using statistical algorithms and Machine Learning techniques to forecast future events based on historical data. It analyses patterns to predict trends, customer behaviours, and potential outcomes.
This involves several key processes: Extract, Transform, Load (ETL): The ETL process extracts data from different sources, transforms it into a suitable format by cleaning and enriching it, and then loads it into a data warehouse or data lake. What Are Some Common Tools Used in Business Intelligence Architecture?
BI provides real-time data analysis and performance monitoring, while Data Science enables a deep dive into dependencies in data with data mining and automates decision making with predictiveanalytics and personalized customer experiences.
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