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Most Common Types Of Data Science Technologies You Should Know
Data Analytics has become a crucial aspect for businesses across varied domains to extract or retrieve valuable information from the data. Data Science models comprise of not just one but several different types of analysis approaches that a business could gain benefit from.
The type of data science technique you must use really depends on the kind of business problem that you want to address. Every individual analysis technique in Data Science will result in different outcomes and so offer different insights for the business.
In this blog post we will be discussing about different types of analysis techniques in Data Science.
- Anomaly Detection
The concept of Anomaly Detection can be interpreted as the process of searching for information in a set of data, which cannot match an expected behavior or predicted pattern. Exceptions, contaminants, outliers, or surprises can be related to the term Anomaly.
By accurately analyzing an anomaly in a data set will be result in easy identification of risks or fraud inside critical systems. With this approach companies can successfully tackle crucial situations like fraud & flawed process.
- Clustering Analysis
The process of Clustering Analysis refers to the process of detecting data sets that have similar attributes to learn their similarities as well as differences in the data.
With the help of clustering analysis business can work towards the development of customer personas, which refer to fictional characters identified by a business to represent the various customer types within a specific demographic.
- Association Analysis
By implementing Association Analysis business can easily discover the relevant associations between different variables in a large-scale database.
With Association Analysis enterprises can accurately analyze the interest of their customers & recommend them new products which are mostly of their interest. With this approach businesses can increase the chances of conversion.
Apart from these techniques there are several other analysis types in Data Science like Regression Analysis, Classification Analysis & such.
Build clear knowledge & hands-on expertise towards working on various analysis models in Data Science by being a part of the Kelly Technologies analytics based learning program of Data Science Training In Hyderabad.