{"id":25530632,"date":"2022-07-02T23:44:39","date_gmt":"2022-07-02T18:14:39","guid":{"rendered":"https:\/\/entri.app\/blog\/?p=25530632"},"modified":"2023-11-23T10:56:11","modified_gmt":"2023-11-23T05:26:11","slug":"how-data-science-solves-real-business-problems-2","status":"publish","type":"post","link":"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/","title":{"rendered":"How Data Science Solves Real Business Problems"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e780d341eb6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e780d341eb6\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/#Problems_solved_by_data_science\" >Problems solved by data science<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"td-post-header\">\n<header class=\"td-post-title\">\n<h1 class=\"entry-title\"><\/h1>\n<\/header>\n<\/div>\n<div class=\"td-post-content tagdiv-type\">\n<p>Statistics and data analysis have leveraged the power of data to explain the current situation in any business set-up and predict certain outcomes. With\u00a0data science, this gets enhanced further. Data science solves real business problems by utilising data to construct algorithms and create programs that help in proving optimal solutions to individual problems.<\/p>\n<p>Data science solves real business problems by using hybrid models of math and computer science to get actionable insights. It takes the risk of going into the territory of the uncharted\u00a0\u2018unstructured\u2019 data\u00a0and getting meaningful insights that help businesses make better decisions.<\/p>\n<p><a href=\"https:\/\/entri.app\/course\/data-science-and-machine-learning-course\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-25520910 size-full\" src=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square.png\" alt=\"Python and Machine Learning Square\" width=\"345\" height=\"345\" srcset=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square.png 345w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-300x300.png 300w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-150x150.png 150w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-24x24.png 24w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-48x48.png 48w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-96x96.png 96w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Square-75x75.png 75w\" sizes=\"auto, (max-width: 345px) 100vw, 345px\" \/><\/a><\/p>\n<p>Let\u2019s<strong>\u00a0<\/strong>talk about<strong>\u00a0<\/strong>how <span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;problems solved by data science&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14526,&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16777215},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Arial&quot;,&quot;16&quot;:10}\">problems are solved by data science.<\/span> We will take examples of a few companies and some concepts that are used in data science in solving real business problems.<\/p>\n<h4 style=\"text-align: center;\"><strong><a href=\"https:\/\/entri.app\/course\/python-programming-course\/\" target=\"_blank\" rel=\"noopener\">Entri gives you the best coding experience<\/a><\/strong><\/h4>\n<h2 id=\"h-here-we-go\"><span class=\"ez-toc-section\" id=\"Problems_solved_by_data_science\"><\/span><strong>Problems solved by data science<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>1. Automating the placement of a digital advertisement<\/strong>\u00a0\u2013 Let\u2019s start with Svorn brokers. This is a company whose vision speaks for itself. It works for both publishers and advertisers. If you are an advertiser it will connect you to a passionate audience through their clean, certified exchange.<\/p>\n<p>But what does it do?<\/p>\n<p>Well,\u00a0it deals between advertisers and channels like ESPN, Encyclopedia, Bustle, StarTribune.\u00a0As these deals happen numerous times in a day, Sovrn has access to a lot of data for insights. It\u00a0uses this data to automate the digital ad placement. Its interface is compatible with Google as well as Amazon\u2019s server to server bidding platforms and can monetize by sending target campaigns to a particular set of customers.<\/p>\n<p><strong>2. Use of data science and advanced analytics to revamp the search function\u00a0<\/strong>\u2013 AirBnB is the prime example of a technology company that has leveraged the power of data science to solve real business problems. It gets a million users each day who search for top-rated vacation rentals. Not just that, it has data from hosts, demand for rentals, hosts and what not! AirBnB realised the importance of this data and created a\u00a0dynamic pricing system called Aerosolve.<\/p>\n<p>Being an\u00a0open source resource, Aerosolve\u2019s predictive model considers a variety of attributes like an optimal price for a rental based on its location, the time of the year it is mostly booked, etc. It then uses the insights to help AirBnB hosts set their prices and gain maximum returns.<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\">\n<h5><span style=\"color: #ffffff;\"><strong>Are you aspiring for a booming career in IT? If YES, then dive in<\/strong><\/span><\/h5>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h5><a href=\"https:\/\/entri.app\/course\/full-stack-developer-course\/\"><strong>Full Stack Developer Course<\/strong><\/a><\/h5>\n<\/td>\n<td>\n<h5><a href=\"https:\/\/entri.app\/course\/python-programming-course\/\"><strong>Python Programming Course<\/strong><\/a><\/h5>\n<\/td>\n<td>\n<h5><a href=\"https:\/\/entri.app\/course\/data-science-and-machine-learning-course\/\"><strong>Data Science and Machine Learning Course<\/strong><\/a><\/h5>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>3. Using data science for generating data-driven crime predictions \u2013\u00a0<\/strong>Data science solves real business problems not just at corporates or tech companies, but there are multiple ways in which the government agencies of the US. For instance, there is a software suite widely used by the American judicial system and law enforcement called the\u00a0Northpointe software suite. Designed by an Ohio-based company,\u00a0Equivant, it tries to simulate whether an offender\u2019s risk of trespassing, based on its data-driven algorithms. The algorithms assess the risk on the basis of a questionnaire that asks questions on the offender\u2019s employment status, education, etc.<\/p>\n<p><strong>4. Using data science for evading tax evasion \u2013<\/strong>\u00a0The\u00a0Internal Revenue Service\u00a0in the US government has used data science to create evolved fraud-detection protocols in the digital times. Tax evasion costs the US government billions of US dollars a year and this has been one of the main reasons why the IRS has stepped up its game. It has improved the efficiency by\u00a0creating multidimensional taxpayers profiles by digging deep into the data the citizens provide at multiple avenues.\u00a0For example\u00a0the social media data, analysis of emails, recognizing the electronic payments,\u00a0etc. Based on such profiles, the agency predicts individual tax returns, and those whose predicted and real returns don\u2019t match, they get picked out for auditing.<\/p>\n<h2 id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In this article, we aimed to cover some of the ways in which <span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;problems solved by data science&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14526,&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16777215},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Arial&quot;,&quot;16&quot;:10}\">problems are solved by data science<\/span>. There are a lot more areas in which this can be applied. So by no means is this list exhaustive.<\/p>\n<p><a href=\"https:\/\/entri.app\/course\/data-science-and-machine-learning-course\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-25522670 size-full\" src=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Rectangle-1.png\" alt=\"Python and Machine Learning Rectangle\" width=\"970\" height=\"250\" srcset=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Rectangle-1.png 970w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Rectangle-1-300x77.png 300w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Rectangle-1-768x198.png 768w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/04\/Python-and-Machine-Learning-Rectangle-1-750x193.png 750w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/a><\/p>\n<p>But I am sure after reading this article, you would have definitely realized the\u00a0massive growth of data science in US and around the world.<\/p>\n<h4 style=\"text-align: center;\"><strong><a href=\"https:\/\/entri.app\/course\/data-science-and-machine-learning-course\/\" target=\"_blank\" rel=\"noopener\">Entri gives you the best coding experience<\/a><\/strong><\/h4>\n<\/div>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\"><strong>Our Other Courses<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/entri.app\/course\/mep-course\/\"><strong>MEP Course<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/course\/quantity-surveying-course\/\"><strong>Quantity Surveying Course<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/course\/montessori-teachers-training-course\/\"><strong>Montessori Teachers Training Course<\/strong><\/a><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/entri.app\/course\/performance-marketing-course\/\"><strong>Performance Marketing Course\u00a0<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/course\/practical-accounting-course\/\"><strong>Practical Accounting Course<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/course\/yoga-teachers-training-course\/\"><strong>Yoga Teachers Training Course<\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Statistics and data analysis have leveraged the power of data to explain the current situation in any business set-up and predict certain outcomes. With\u00a0data science, this gets enhanced further. Data science solves real business problems by utilising data to construct algorithms and create programs that help in proving optimal solutions to individual problems. Data science [&hellip;]<\/p>\n","protected":false},"author":111,"featured_media":25531568,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[802,1903,1864],"tags":[],"class_list":["post-25530632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-coding","category-data-science-ml"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Data Science Solves Real Business Problems - Entri Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Data Science Solves Real Business Problems - Entri Blog\" \/>\n<meta property=\"og:description\" content=\"Statistics and data analysis have leveraged the power of data to explain the current situation in any business set-up and predict certain outcomes. With\u00a0data science, this gets enhanced further. Data science solves real business problems by utilising data to construct algorithms and create programs that help in proving optimal solutions to individual problems. Data science [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Entri Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/entri.me\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-02T18:14:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-23T05:26:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/06\/How-Data-Science-Solves-Real-Business-Problems.png\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"615\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Feeba Mahin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@entri_app\" \/>\n<meta name=\"twitter:site\" content=\"@entri_app\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Feeba Mahin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\"},\"author\":{\"name\":\"Feeba Mahin\",\"@id\":\"https:\/\/entri.app\/blog\/#\/schema\/person\/f036dab84abae3dcc9390a1110d95d36\"},\"headline\":\"How Data Science Solves Real Business Problems\",\"datePublished\":\"2022-07-02T18:14:39+00:00\",\"dateModified\":\"2023-11-23T05:26:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\"},\"wordCount\":739,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/entri.app\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/06\/How-Data-Science-Solves-Real-Business-Problems.png\",\"articleSection\":[\"Articles\",\"Coding\",\"Data Science and Machine Learning\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\",\"url\":\"https:\/\/entri.app\/blog\/how-data-science-solves-real-business-problems-2\/\",\"name\":\"How Data Science Solves Real Business Problems - 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With\u00a0data science, this gets enhanced further. Data science solves real business problems by utilising data to construct algorithms and create programs that help in proving optimal solutions to individual problems. 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