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Data Science Process and Role of Data Scientists

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Data Science Process and Role of Data Scientists

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Questions and Answers

In which industry are machine learning algorithms used for predictive analytics of customer lifetime value and stock market moves?

Healthcare

Financial (correct)

Transport

Manufacturing

Which industry extensively uses data science for optimizing production, reducing costs, and boosting profits?

Manufacturing (correct)

Healthcare

Transport

E-Commerce

What is one of the key applications of data science in the transportation sector?

Predictive modeling for diagnosis

Optimizing delivery routes (correct)

Drug discovery

Medical image analysis

Which industry has been significantly transformed by data science to benefit e-commerce?

Manufacturing (B) Signup and view all the answers

What role does data science play in the health-care industry?

Predictive modeling for diagnosis (D) Signup and view all the answers

What is the primary goal of Data Science?

To discover hidden patterns from raw data (C) Signup and view all the answers

How does a Data Scientist differ from a Data Analyst (Statistician)?

Data Analyst explains historical data patterns, while Data Scientist uses advanced machine learning algorithms (A) Signup and view all the answers

What is one of the biggest applications of Data Science according to the text?

Automating risk analytics in finance (A) Signup and view all the answers

What role does Big Data play in the banking sector according to the text?

Enabling banks to manage resources efficiently (D) Signup and view all the answers

How does Data Science contribute to the finance industry?

By automating risk analytics (C) Signup and view all the answers