🔍 Key Components of Data Science:
- Data Collection – Gathering raw data from various sources (e.g., databases, web, sensors).
- Data Cleaning – Removing errors, inconsistencies, and missing values.
- Exploratory Data Analysis (EDA) – Understanding patterns, trends, and anomalies through statistics and visualization.
- Model Building – Using machine learning algorithms to make predictions or find hidden structures.
- Model Evaluation – Testing the model's performance and adjusting for better accuracy.
- Deployment – Making the model available in real-world applications (e.g., web apps, APIs).
- Communication – Translating technical findings into business decisions using reports, dashboards, or presentations.
💡 Example:
A retailer uses data science to:
- Predict which products will sell best next season.
- Optimize pricing strategies.
- Segment customers for targeted marketing.
In simple terms: Data Science = Data + Algorithms + Business Insight
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