Data Science Career Alternatives: Entrepreneurship
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Questions and Answers

What is the primary goal of a data entrepreneur?

  • To process and store big data
  • To analyze data for a company
  • To create a vision for a business and use data science expertise to turn it into reality (correct)
  • To improve people's lives through data science

    • What is characterized as data that exceeds the processing capacity of conventional database systems?

  • Data Science
  • Hadoop
  • Machine Learning
  • Big Data (correct)

    • What is the purpose of Hadoop?

  • To reduce big data into smaller datasets for data scientists to analyze (correct)
  • To improve business performance
  • To create big data
  • To improve people's lives

    • What is the defining characteristic of a data entrepreneur?

    <p>Craving creative freedom as a founder</p> Signup and view all the answers

    What do machine learning engineers, data engineers, and data scientists play in the modern data ecosystem?

    <p>Crucial roles</p> Signup and view all the answers

    What is the primary function of data science?

    <p>To improve business performance</p> Signup and view all the answers

    What is big data characterized by?

    <p>Exceeding the processing capacity of conventional database systems</p> Signup and view all the answers

    What is required to use big data?

    <p>A Hadoop cluster</p> Signup and view all the answers

    What is one of the reasons cited for Python's current popularity?

    <p>Everything you need to learn and do in Python is free</p> Signup and view all the answers

    What does the graph of Google search trends over the last five years indicate?

    <p>Python's popularity has been increasing</p> Signup and view all the answers

    Where can you find the most current stable build of Python?

    <p>python.org website</p> Signup and view all the answers

    What is Anaconda typically referred to as?

    <p>A data science platform</p> Signup and view all the answers

    What do you need to install along with Anaconda?

    <p>Microsoft VS Code</p> Signup and view all the answers

    What is required to download Anaconda?

    <p>Nothing, it's free</p> Signup and view all the answers

    What is the primary purpose of logistic regression?

    <p>To estimate values for a categorical target variable</p> Signup and view all the answers

    What is the purpose of a code editor?

    <p>To type Python code</p> Signup and view all the answers

    What is the function of a Python interpreter?

    <p>To run Python code</p> Signup and view all the answers

    What is a key benefit of using logistic regression?

    <p>It provides probability estimates for each of its predictions</p> Signup and view all the answers

    What is the main difference between univariate and multivariate outlier detection?

    <p>Univariate detection looks at features individually, while multivariate detection looks at relationships between features</p> Signup and view all the answers

    What is the main purpose of detecting outliers in a dataset?

    <p>To remove anomalies that can affect analysis</p> Signup and view all the answers

    What is Ordinary Least Squares (OLS) regression used for?

    <p>To fit a linear regression line to a dataset</p> Signup and view all the answers

    What type of data is suitable for logistic regression?

    <p>Categorical data with a target variable that describes the class</p> Signup and view all the answers

    What is a potential application of outlier detection?

    <p>To detect fraud or cybersecurity attacks</p> Signup and view all the answers

    What is a key assumption of many statistical and machine learning approaches?

    <p>That the data has no outliers</p> Signup and view all the answers

    What kind of data is available on the World Bank Open Data page?

    <p>Data on agriculture, economy, environment, science, and more</p> Signup and view all the answers

    What is the main purpose of the World Bank?

    <p>To provide loans to developing countries</p> Signup and view all the answers

    What is unique about the Knoema platform?

    <p>It houses over 500 databases</p> Signup and view all the answers

    What kind of data can be accessed through the World Bank’s Open Data API?

    <p>Any data available on the World Bank Open Data page</p> Signup and view all the answers

    What is Quandl?

    <p>A Toronto-based website for searching numeric data</p> Signup and view all the answers

    How many datasets does Quandl link to?

    <p>Over 10 million datasets</p> Signup and view all the answers

    What is the range of velocity at which big data enters an average system?

    <p>Between 30 kilobytes per second to 30 gigabytes per second</p> Signup and view all the answers

    What kind of data is NOT available on Knoema?

    <p>Social media data</p> Signup and view all the answers

    What type of data is commonly generated from human activities and doesn't fit into a structured database format?

    <p>Unstructured data</p> Signup and view all the answers

    What is the main difference between the World Bank Open Data page and Quandl?

    <p>One provides data only from the World Bank, the other provides data from multiple sources</p> Signup and view all the answers

    What is the primary challenge posed by high-velocity, real-time moving data?

    <p>Obstacle to timely decision-making</p> Signup and view all the answers

    What is an example of semistructured data?

    <p>JSON files</p> Signup and view all the answers

    What is a common source of big data?

    <p>All of the above</p> Signup and view all the answers

    What is the primary feature of structured data?

    <p>It can be stored in a traditional relational database management system</p> Signup and view all the answers

    What is an example of heterogeneous data?

    <p>Any combination of graph data, JSON files, XML files, social media data, and structured tabular data</p> Signup and view all the answers

    What is the primary challenge posed by high-variety data?

    <p>Handling heterogeneous data sources</p> Signup and view all the answers

    Study Notes

    Exploring Career Alternatives in Data Science

    • A data entrepreneur builds businesses by delivering exceptional data science services and products, using data science expertise to guide the business.
    • Data entrepreneurs crave creative freedom and are founders of their own businesses.

    Defining Big Data and the Three Vs

    • Big Data characterizes data that exceeds the processing capacity of conventional database systems due to its size, speed, or lack of structural requirements.
    • Hadoop is a data processing platform that reduces big data into smaller, more manageable datasets for data scientists to analyze.
    • The Three Vs of Big Data are:
      • Velocity: data enters systems at velocities ranging from 30 kilobytes to 30 gigabytes per second.
      • Variety: big data is composed of structured, semistructured, and unstructured data from various sources.
      • Volume: big data storage and processing capabilities require significant investments.

    Identifying Important Data Sources

    • Various sources generate large volumes of data, including:
      • Social media
      • Financial transactions
      • Health records
      • Click-streams
      • Log files
      • Internet of Things

    Regression Methods

    • Logistic regression is a machine learning method used to estimate values for a categorical target variable based on selected features.
    • Ordinary least squares (OLS) regression is a statistical method that fits a linear regression line to a dataset, useful for models with multiple independent variables.

    Detecting Outliers

    • Outliers are data points with values significantly different from the majority of data points.
    • Outlier detection is essential for data analysis and can be done using univariate or multivariate approaches.

    Exploring Data Worldwide

    • The World Bank Open Data page provides datasets on various indicators, including:
      • Agriculture and rural development
      • Economy and growth
      • Environment
      • Science and technology
      • Financial sector
      • Poverty and income
    • Knoema is a platform with 500+ databases, including government data, international organization data, and corporate data.
    • Quandl is a search engine for numeric data, linking to over 10 million datasets from various sources, including the United Nations and central banks.

    Why Python Is Hot

    • Python's popularity is due to:
      • Ease of learning
      • Free resources
      • Ready-made tools for current hot technologies like data science, machine learning, and artificial intelligence
    • Google search trends show Python's increasing popularity over the last five years.

    Choosing the Right Python

    • Python versions have different release dates, and the most current stable build is recommended.

    Tools for Success

    • A good Python interpreter and editor are necessary for coding.
    • Anaconda is a complete Python development environment with a graphic user interface and includes VS Code.
    • Installing Anaconda and VS Code involves downloading from the official website and following on-screen instructions.

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    Explore the role of a data entrepreneur, combining data science skills with business acumen to deliver exceptional services and products.

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