The algorithms and statistical tests that are routinely employed in building models and validate its accuracy are not necessarily recent research findings. Economic reasons apparently are the primary motivation in employing Data Science as new engine for growth.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][split_line_heading animation_type=”default”]\n
In data-driven economy strategic information improves productivity and profit margin by eliminating wastages and reducing cost. So, utilizing data analytics in business cannot add unrealistic cost burden to business. Rather, it must achieve the opposite \u2013 bring more opportunities with less cost. But how can this be realized? \u2013 this is the real challenge.<\/p>\n
Clear direction, genuine intent and sound economic policy that benefit from data, at the federal and state levels, are the most impactful initiatives in building a new economic engine.<\/p>\n
It is essential that economic policy is supported by business owners and executives who must formulate their own strategies and policies in utilizing data.[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”1\/3″ tablet_width_inherit=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][image_with_animation image_url=”6536″ alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][image_with_animation alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][split_line_heading animation_type=”default”]\n
First big data need to be organized into datasets that can be modeled. It also involves capturing and storage of data, as well as converting them into desired format of data structures.<\/p>\n
This sounds like IT job to most people, or it should not be surprising to consider transforming some of these personnel to data engineers. Competency in advanced programming is essential in this role and in this manner the doers are also developers.<\/p>\n
Entirely different skill sets involve the use of mathematics, statistics and neural networks in solving classification, clustering and forecasting problems. This role seeks to unravel useful new information that were initially buried under seemingly meaningless numbers. [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][image_with_animation alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][split_line_heading animation_type=”default”]\n
Worldwide adoption and improvement of Python, R and JavaScript to support model training and front-end visualization is a clear testimony that the time to do Data Science for economy is now.<\/p>\n
Other facts also support this position \u2013 Google \u2018s recent release of TensorFlow\u00a0 to the public and its inclusion of Keras on top of its core kernel greatly benefit deep learning researchers, developers and scientists.<\/p>\n
Now, relatively advanced neural network classification and forecasting experiments can be completed quickly and performed on affordable laptops and bandwidths.[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”1\/6″ tablet_width_inherit=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][image_with_animation image_url=”6579″ alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][image_with_animation image_url=”6578″ alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][image_with_animation alignment=”center” animation=”Flip In” hover_animation=”none” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][split_line_heading animation_type=”default”]\n