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Machine Learning and Data Science Workflow Importance of Data in Business

The document outlines the workflows for Machine Learning and Data Science projects, emphasizing the importance of data in business decision-making. It details the steps involved in each workflow, highlights the differences between them, and discusses the significance of data types and challenges in utilization. Additionally, it provides strategies for optimizing data for AI applications while addressing privacy, accuracy, and ethical concerns.

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Pramit Chandra Rout
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18 views9 pages

Machine Learning and Data Science Workflow Importance of Data in Business

The document outlines the workflows for Machine Learning and Data Science projects, emphasizing the importance of data in business decision-making. It details the steps involved in each workflow, highlights the differences between them, and discusses the significance of data types and challenges in utilization. Additionally, it provides strategies for optimizing data for AI applications while addressing privacy, accuracy, and ethical concerns.

Uploaded by

Pramit Chandra Rout
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Machine Learning & Data

Science Workflow +
Importance of Data in
Business
Welcome! Today we'll explore the workflow of Machine Learning
and Data Science projects, followed by why data is a critical asset
in business.
You'll learn how ML and Data Science work and how organizations
leverage data for decision-making.

by Pramit Chandra Rout


Machine Learning Project Workflow
Define the Business Problem
Identify what we want AI to solve.

Data Collection
Gather relevant data for training.

Data Cleaning & Preprocessing


Handle missing values and remove duplicates.

Model Selection & Training


Choose algorithms and adjust parameters.

Model Evaluation
Measure accuracy, precision, and recall.

Deployment & Monitoring


Integrate AI into business systems.
Data Science Project Workflow
Define Objectives
Determine what insights we need from data.

Data Collection
Extract structured & unstructured data.

Data Processing
Clean, format, and engineer features.

Exploratory Data Analysis (EDA)


Find patterns and outliers in the data.

Model Building
Create statistical models, ML models, or deep learning.

Model Evaluation & Deployment


Track performance and automate processes.
Difference Between ML &
Data Science Workflow
Aspect Machine Learning Data Science
Workflow Workflow

Goal Train AI models Extract business


for automation insights

Data Handling Requires labeled Uses structured &


data unstructured data

Output Predictions, Business


automation analytics,
forecasting
Example Fraud detection AI Customer
behavior analysis
Importance of Data in Business Functions
1 Decision-Making 2 Automation & Efficiency 3 Customer Personalization
AI uses data to generate Data-driven AI reduces AI enhances user experience.
actionable insights. Business manual work. It streamlines Companies like Netflix and
leaders rely on these insights processes across Amazon tailor offerings using
for strategic planning. departments. customer data.
Types of Business Data
Used in AI
Customer Data Operational Data
Purchase history and Supply chain logs and
preferences. Used in production metrics. Used in
marketing and logistics and inventory
personalization. management.

Financial Data
Revenue, expenses, and transaction records. Used in fraud
detection and forecasting.
Challenges in Business Data Utilization

Privacy & Security Risks


2 AI must comply with GDPR and
industry standards.

Data Silos 1
Departments store data separately.

Bias & Inaccuracy


Models make errors when trained
3 on biased datasets.

These challenges limit AI effectiveness. Companies must address them systematically.


How Businesses Can Optimize Data for AI
Use AI to automate and extract insights
1 Implement AI-powered analytics

Ensure Regulatory Compliance


2
Follow ethical AI development practices

Invest in AI Data Infrastructure


3
Utilize cloud and Big Data tools

Improve Data Quality


4
Remove bias and ensure accuracy
Discussion & Q&A

ML & Data Data is critical Address


Science concerns
Powers AI decision-
workflows
making in Data privacy,
Guide AI project businesses. accuracy, and
development from ethics must be
start to finish. prioritized.

If you were building an AI startup, what type of data would be most


valuable to collect?

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