A
SYNOPSIS ON
DATA SCIENCE
Submitted
By
P.DINISHA
MBA (Systems)
ROLL NO: 1422-23-672-115
PROJECT SUBMITTED IN PARTIAL FULFILLMENT
FOR THE AWARD OF THE
MASTERS OF BUSSINESS MANAGMENT
2023-2025
Department of management studies
CSI INSTITUTE OF P.G. STUDIES
(Affiliated to Osmania University)
East marredpally, secunderabad, telengana
INTRODUCTION
Data science is a multidisciplinary field that combines
elements of computer science, statistics, and domain-specific
knowledge to extract insights and knowledge from data.
Data science is the process of extracting insights and
knowledge from data using various techniques such as
machine learning, data mining, and data visualization.
Data science process
1. Problem Definition: Defining the problem or question to be
addressed through data analysis.
2. Data Collection: Gathering data from various sources, such
as databases, files, and APIs.
3. Data Cleaning: Cleaning and preprocessing the data to
remove errors and inconsistencies.
4. Data Analysis: Analyzing the data using statistical and
machine learning techniques to extract insights and patterns.
5. Insight Generation: Interpreting the results of the analysis
to generate insights and recommendations.
6. Communication: Communicating the insights and results to
stakeholders through effective visualization and storytelling.
Objectives
Primary Objectives
1. Extract Insights: Extract valuable insights and patterns
from data to inform business decisions or solve complex
problems.
2. Predict Future Trends: Use machine learning and statistical
models to predict future trends and outcomes.
3. Optimize Processes: Optimize business processes and
systems using data-driven approaches.
4. Communicate Results: Communicate complex data insights
and results to stakeholders through effective visualization
and storytelling.
Secondary Objectives
1. Identify Areas for Improvement: Identify areas for
improvement in business processes and systems using data
analysis.
2. Measure Performance: Measure the performance of
business processes and systems using data-driven metrics.
3. Inform Strategic Decisions: Inform strategic decisions with
data-driven insights and recommendations.
4. Identify New Opportunities: Identify new opportunities for
business growth and improvement using data analysis.
Tertiary Objectives
1. Develop Predictive Models: Develop predictive models
that can forecast future events and outcomes.
2. Conduct A/B Testing: Conduct A/B testing to determine the
effectiveness of different business strategies and processes.
3. Analyze Customer Behavior: Analyze customer behavior
and preferences to inform business decisions.
4. Develop Data-Driven Products: Develop data-driven
products and services that meet the needs of customers and
stakeholders.
Scope of Study
1. Data Collection: Collecting and processing data from
various sources, such as databases, files, and APIs.
2. Data Analysis: Analyzing data using statistical and machine
learning techniques to extract insights and patterns.
3. Data Visualization: Visualizing data insights and results
using various tools and techniques, such as plots, charts, and
tables.
4. Machine Learning: Building and deploying machine
learning models to predict future trends and outcomes.
5. Domain Expertise: Applying domain-specific knowledge to
interpret data insights and results.
Research Methodology
1. Research Design: A quantitative research design will be
used to analyze the data.
2. Data Collection Methods: Data will be collected from
various sources, such as databases, files, and APIs.
3. Data Analysis Techniques: Statistical and machine learning
techniques will be used to analyze the data.
4. Tools and Software: Various tools and software, such as
Python, R, and Tableau, will be used to analyze and visualize
the data.
5. Sampling Method: A random sampling method will be used
to select the sample.
Limitations
1. Data Quality: Poor data quality can lead to inaccurate
insights and results.
2. Data Bias: Biased data can lead to biased insights and
results.
3. Complexity: Complex data sets and models can be difficult
to interpret and communicate.
4. Ethics: Data science raises ethical concerns, such as data
privacy and security.
5. Interpretation: Data insights and results require
interpretation and context to be useful.
THANK YOU
