FM 8
FM 8
The public cloud stores and manages access to data and applications through the
internet. the public cloud deployment model enables enterprises to grow with more
ease; the option to pay for cloud services on an as-needed basis is a significant
benefit over local servers.
Hybrid cloud:
The hybrid cloud architecture enables businesses to store sensitive data on-premises
and access it through apps hosted in the public cloud. In order to comply with
privacy rules, an organisation may, for instance, keep sensitive user data in a private
cloud and execute resource-intensive computations in a public cloud.
Business Intelligence:
Business intelligence includes business analytics, data mining, data visualisation, data
tools and infrastructure, and best practises to assist businesses in making choices
that are more data-driven. Modern BI systems promote adaptable self-service
analysis, controlled data on dependable platforms, empowered business users, and
rapid insight delivery.
BI Methods:
Company intelligence is a broad word that encompasses the procedures and
methods of gathering, storing, and evaluating data from business operations or
activities in order to maximise performance. All of these factors combine to provide
a full perspective of a firm, enabling individuals to make better, proactive decisions.
In recent years, business intelligence has expanded to incorporate more procedures
and activities designed to enhance performance. These procedures consist of:
(i) Data mining: Large datasets may be mined for patterns using databases,
analytics, and machine learning (ML).
(ii) Reporting: The dissemination of data analysis to stakeholders in order for them
to form conclusions and make decisions.
(iii) Performance metrics and benchmarking: Comparing current performance data
to previous performance data in order to measure performance versus objectives,
generally utilising customised dashboards.
(iv) Descriptive analytics: Utilizing basic data analysis to determine what transpired
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Machine learning
Machine learning (ML) is a branch of study devoted to understanding and
developing systems that “learn,” or ways that use data to improve performance on a
set of tasks. In applications such as medicine, email filtering, speech recognition,
and computer vision, when it is difficult or impractical to create traditional
algorithms to do the required tasks, machine learning techniques are utilised.
Programs that are capable of machine learning can complete tasks without
being expressly designed to do so. It includes computers learning from available
data in order to do certain jobs. For basic jobs handed to computers, it is feasible
to build algorithms that instruct the machine on how to perform all steps necessary
to solve the problem at hand; no learning is required on the side of the computer.
For complex jobs, it might be difficult for a person to manually build the necessary
algorithms. In reality, it may be more efficient to assist the computer in developing
its own algorithm as opposed to having human programmers describe each step.
The field of machine learning involves a variety of methods to educate computers to
perform jobs for which
there is no optimal solution. In situations when there are a large number of viable
replies, one strategy is to classify some of the correct answers as legitimate. This
information may subsequently be utilised to train the computer’s algorithm(s) for
determining accurate replies. Approaches towards machine learning
On the basis of the type of “signal” or “feedback” provided to the learning system,
machine learning systems are generally categorised into five major categories:
(i) Supervised learning
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data is combined with a tiny quantity of labelled data, there is a significant gain in
learning accuracy.
Reinforcement learning
Reinforcement learning is a subfield of machine learning concerned with
determining how software agents should operate in a given environment so as to
maximise a certain concept of cumulative reward. Due to the field’s generic nature, it
is explored in several different fields, including game theory, control theory,
operations research, information theory, simulation-based optimization, multi-agent
systems, swarm intelligence, statistics, and genetic algorithms.
Dimensionality reduction
Dimensionality reduction is the process of acquiring a set of major variables in order
to reduce the number of random variables under consideration.
In other words, it is the process of lowering the size of the feature set, which is also
referred to as the “number of features.” The majority of dimensionality reduction
strategies may be categorised as either deletion or extraction of features. Principal
component analysis is a well-known technique for dimensionality reduction (PCA).
PCA includes transforming data with more dimensions (e.g., 3D) to a smaller space
(e.g., 2D). This results in a decreased data dimension (2D as opposed to 3D), while
retaining the original variables in the model and without altering the data.
Numerous dimensionality reduction strategies assume that high-dimensional data
sets reside along low-dimensional manifolds, leading to the fields of manifold
learning and manifold regularisation.
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management, and consumption for a Data Science project. Only then can society
reap the rewards of the ‘wonderful AI’
Solved Case 1
Arjun joined as an instructor in a higher learning institution. His responsibility is to
teach data analysis
to students. He is particularly interested in teaching analytics and model building.
Arjun was preparing a teaching
plan for the new upcoming batch.
What elements do you think, he should incorporate into the plan.
Teaching note - outline for solution:
The instructor may explain first the utility of data analytics from the perspective of
business organizations.
He may explain how data analytics may translate their discoveries into insights that
eventually aid executives,
managers, and operational personnel in making more educated and prudent
business choices.
He may further explain the four forms of data analytics:
(i) Descriptive analytics
(ii) Diagnostic analytics
(iii) Predictive analytics
(iv) Prescriptive analytics
The instructor should explain each of the terms along with their appropriateness in
using under real-life problem
situations.
The advantages and disadvantages of using each of the methods should also be
discussed thoroughly.