Book Image

Data Science Using Python and R

By : Chantal D. Larose, Daniel T. Larose
Book Image

Data Science Using Python and R

By: Chantal D. Larose, Daniel T. Larose

Overview of this book

Data science is hot. Bloomberg named a data scientist as the ‘hottest job in America’. Python and R are the top two open-source data science tools using which you can produce hands-on solutions to real-world business problems, using state-of-the-art techniques. Each chapter in the book presents step-by-step instructions and walkthroughs for solving data science problems using Python and R. You’ll learn how to prepare data, perform exploratory data analysis, and prepare to model the data. As you progress, you’ll explore what are decision trees and how to use them. You’ll also learn about model evaluation, misclassification costs, naïve Bayes classification, and neural networks. The later chapters provide comprehensive information about clustering, regression modeling, dimension reduction, and association rules mining. The book also throws light on exciting new topics, such as random forests and general linear models. The book emphasizes data-driven error costs to enhance profitability, which avoids the common pitfalls that may cost a company millions of dollars. By the end of this book, you’ll have enough knowledge and confidence to start providing solutions to data science problems using R and Python.
Table of Contents (20 chapters)
Free Chapter
1
ABOUT THE AUTHORS
17
INDEX
18
END USER LICENSE AGREEMENT

3.2 THE PROBLEM UNDERSTANDING PHASE

We begin with the Problem Understanding Phase, in order to make sure that the ladder we are working so hard to climb is not leaning against the wrong wall.

3.2.1 Clearly Enunciate the Project Objectives

The objectives of this analysis are as follows:

  1. Learn about our potential customers. That is, learn the characteristics of those who choose to bank with us, as well as those who do not.
  2. Develop a profitable method of identifying likely positive responders, so that we may save time and money. That is, develop a model or models that will identify likely positive responders. Quantify the expected profit from using these models.

3.2.2 Translate These Objectives into a Data Science Problem

How shall we use data science to accomplish the project objectives?

  1. There are many ways to learn about our potential customers.
    1. Use Exploratory Data Analysis to express some simple graphic relationships among the variables. For example, use a histogram of age overlain...