Tuesday, 31 October 2017

 Decision Tree 


A decision tree is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. It is one way to display an algorithm that only contains conditional control statements.
Decision trees are commonly used in operations research, specifically in decision analysis, to help identify a strategy most likely to reach a goal, but are also a popular tool in machine learning. 
A decision tree is a flowchart-like structure in which each internal node represents a "test" on an attribute (e.g. whether a coin flip comes up heads or tails), each branch represents the outcome of the test, and each leaf node represents a class label (decision taken after computing all attributes). The paths from root to leaf represent classification rules.
In decision analysis, a decision tree and the closely related influence diagram are used as a visual and analytical decision support tool, where the expected values(or expected utility) of competing alternatives are calculated.
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Monday, 30 October 2017

Data Analysis


Data analysis, also known as analysis of data or data analytics, is a process of  inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.
Data mining is a particular data analysis technique that focuses on modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing on business information. In statistical applications data analysis can be divided into descriptive statistics, exploratory data analysis (EDA), and confirmatory data analysis (CDA). EDA focuses on discovering new features in the data and CDA on confirming or falsifying existing hypotheses. Predictive analytics focuses on application of statistical models for predictive forecasting or classification, while text analytics applies statistical, linguistic, and structural techniques to extract and classify information from textual sources, a species of unstructured data.  
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Sunday, 29 October 2017

Machine Learning 


Machine learning is closely related to (and often overlaps with) computational statistics, which also focuses on prediction-making through the use of computers. It has strong ties to mathematical optimization, which delivers methods, theory and application domains to the field. Machine learning is sometimes conflated with data mining, where the latter subfield focuses more on exploratory data analysis and is known as unsupervised learning. Machine learning can also be unsupervised and be used to learn and establish baseline behavioral profiles for various entities and then used to find meaningful anomalies. 

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Saturday, 28 October 2017

Data Mining


Data mining is the computing process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. An essential process where intelligent methods are applied to extract data patterns. It is an interdisciplinary subfield of computer science. The overall goal of the data mining process is to extract information from a data set and transform it into an understandable structure for further use.  Aside from the raw analysis step, it involves database and data management aspects, data pre-processing, model and inference considerations, interestingness metrics, complexity considerations, post-processing of discovered structures, visualization, and online updating. Data mining is the analysis step of the "knowledge discovery in databases" process, or KDD.


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Friday, 27 October 2017

Data Governance


Data governance is a defined process an organization follows to ensure high quality data exists throughout the complete lifecycle. The key focus areas of data governance include availability, usability, integrity and security. . This includes establishing processes to ensure important data assets are formally managed throughout the enterprise, and the data can be trusted for decision-making. Often the processes used in data governance include accountability for any adverse event that results from data quality. Data governance also describes an evolutionary process for a company, altering the company’s way of thinking and setting up the processes to handle information so that it may be utilized by the entire organization. It’s about using technology when necessary in many forms to help aid the process. When companies desire, or are required, to gain control of their data, they empower their people, set up processes and get help from technology to do it.

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Thursday, 26 October 2017

Data Blending


Data blending is a process whereby big data from multiple sources are merged into a single data warehouse or data set. It concerns not merely the merging of different file formats or disparate sources of data but also different varieties of data. Data blending allows business analysts to cope with the expansion of data which they need to make critical business decisions based on good quality business intelligence.
Data blending has been described as different to data integration due to the requirements of data analysts to merge sources very quickly, too quickly for any practical intervention by data scientists.

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Wednesday, 25 October 2017

Business Intelligence



Business Intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies include reporting, online analytical processing, analytics, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, predictive analytics and prescriptive analytics. BI technologies can handle large amounts of structured and sometimes unstructured data to help identify, develop and otherwise create new strategic business opportunities. They aim to allow for the easy interpretation of these big data. Identifying new opportunities and implementing an effective strategy based on insights can provide businesses with a competitive market advantage and long-term stability.



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Tuesday, 24 October 2017

Big Data


Big data is a term for data sets that are so large or complex that traditional data processing application software is inadequate to deal with them. Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating and information privacy.

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