Book Image

The Art of Data-Driven Business

By : Alan Bernardo Palacio
Book Image

The Art of Data-Driven Business

By: Alan Bernardo Palacio

Overview of this book

One of the most valuable contributions of data science is toward helping businesses make the right decisions. Understanding this complicated confluence of two disparate worlds, as well as a fiercely competitive market, calls for all the guidance you can get. The Art of Data-Driven Business is your invaluable guide to gaining a business-driven perspective, as well as leveraging the power of machine learning (ML) to guide decision-making in your business. This book provides a common ground of discussion for several profiles within a company. You’ll begin by looking at how to use Python and its many libraries for machine learning. Experienced data scientists may want to skip this short introduction, but you’ll soon get to the meat of the book and explore the many and varied ways ML with Python can be applied to the domain of business decisions through real-world business problems that you can tackle by yourself. As you advance, you’ll gain practical insights into the value that ML can provide to your business, as well as the technical ability to apply a wide variety of tried-and-tested ML methods. By the end of this Python book, you’ll have learned the value of basing your business decisions on data-driven methodologies and have developed the Python skills needed to apply what you’ve learned in the real world.
Table of Contents (17 chapters)
Part 1: Data Analytics and Forecasting with Python
Part 2: Market and Customer Insights
Part 3: Operation and Pricing Optimization

Understanding search trends with Pytrends

In marketing, market research refers to finding relevant, actionable, and novel knowledge about a given target market, which is always important when planning commercial strategies. This means that the intention is to find information that allows us to know more about the needs of a given market and how the business can meet them with its products and services. We access this knowledge by running data analysis to find previously unseen patterns. This new insight allows companies to do the following:

  • Be able to innovate by actually meeting needs
  • Gain a better understanding of the customers in a given market
  • Monitor brand awareness, and more

In this chapter, we will analyze a set of financial assets and how they perform in different markets, and what people are searching for when they search for these assets. The four assets we will be tracking in particular are bitcoin, real estate, bonds, and stocks. These assets are...