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How The Industries Are Being Impacted By Data Science?

How The Industries Are Being Impacted By Data Science?

The world has finally woken up and smelled the power of data science and now we are living in a world that is being driven by data. There is no denying the fact that new technologies are coming to the fore that are born out of data-driven insight and numerous sectors are also turning towards data science techniques and tools to increase their operational efficiency.

This in turn is also pushing a demand for skilled people in various sectors who are armed with Data Science course or, Retail Analytics Courses to be able to sift through mountains of data to clean it, sort it and analyze it for uncovering valuable information. Decisions that were earlier taken often on the basis of erroneous data or, assumption can now be more accurate thanks to application of data science.

Now  let’s take a look at which sectors are benefitting the most from data science

Healthcare

The healthcare industry has adopted the data science techniques and the benefits could already be perceived. Keeping track of healthcare records is easier not just that but digging through the pile of patient data and its analysis actually helps in giving hint regarding health issues that might crop up in near future. Preventive care is now possible and also monitoring patient health is easier than ever before.

The development in the field  can also predict which medication would be suitable for a particular patient. Data analytics and data science application is also enabling the professionals in this sector to offer better diagnostic results.

Retail

This is one industry that is reaping huge benefits from the application of data science. Now sorting through the customer data, survey data it is easier to gauge the customers’ mindset. Predictive analysis is helping the experts in this field to predict the personal preference of the consumers and they are able to come up with personalized recommendations that is bound to help them retain customers.  Not just that they can also find the problem areas in their current marketing strategy to make changes accordingly.

Transport

Transport is another sector that is using data science techniques to its advantage and  in turn it is increasing its service quality. Both the public and private transportation services providers are keeping track of customer journey and getting the details necessary to develop personalized information, they are also helping people be prepared for unexpected issues and most importantly they are helping people reach their destinations without any glitch.

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Finance

If so many industries are reaping benefits, Finance is definitely to follow suit. Dealing with  valuable data regarding banking transactions, credit history is essential. Based on the data insight it is possible to offer customers personalized financial advice. Also the credit risk issue could be minimized thanks to the insight derived from a particular customer’s credit history. It would allow the financial institute make an informed decision. However, credit risk analytics training would be required for personnel working in this field. 

Telecom

The field of telecom is surely a busy sector that has to deal with tons of valuable data. With the application of data science now they are able to find a smart solution to process the data they gather from various call records, messages, social media platforms in order to design and deliver services that are in accordance with customers’ individualistic needs.

Harnessing the power of data science is definitely going to impact all the industries in future. The data science domain is expanding and soon there would be more miracles to observe. Data Science training can help upskill the employees reduce the skill gap that is bugging most sectors.


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Probability PART-II: A Guide To Probability Theorems

Probability PART-II: A Guide To Probability Theorems

This is the second part of the probability series, in the first segment we discussed the basic concepts of probability. In this second part we will delve deeper into the topic and discuss the theorems of probability. Let’s find out what these theorems are.

Addition Theorem

    • If A and B are two events and they are not necessarily mutually exclusive then the probability of occurrence of at least one of the two events A and B i.e. P(AUB) is given by



 
 
 
 
Removing the intersections will give the probability of A or B  or both.
 
 
 
 
 
 
Example:- From a deck of cards 1 card is drawn, what is the probability the card is king or heart or both?

Total cards 52

P(KingUHeart)= P(King)+P(Heart) ─ P(King∩Heart)

  • If A and B are two mutually exclusive events then the probability that either A or B will occur is the sum of individual probabilities of the events A and B.

 
 
 
 
 
 
P(A)+P(B), here the combined probability of the two will either give P(A) or P(B)
 
 
 
 
 
 

  • If A and B are two non mutually exclusive events then the probability of occurrence of event A is given by

    

 
 
 
Where B’ is 1-P(B), that means probability of  A is calculated as P(A)=1-P(B)
 
 
 
 
 
 
 

Multiplication Law

The law of multiplication is used to find the joint probability or the intersection i.e. the probability of two events occurring together at the same point of time.

In the above graph we see that when the bill is paid at the same time tip is also paid and the interaction of the two can be seen in the graph.

Joint probability table

A joint probability table displays the intersection (joint) probabilities along with the marginal probabilities of a given problem where the marginal probability is computed by dividing some subtotal by the whole.

Example:- Given the following joint probability table find out the probability that the employee is female or a professional worker.

Watch this video down below that further explains the theorems.

At the end of this blog, you must have grasped the basics of the theorems discussed here. Keep on tracking the Dexlab Analytics blog where you will find more discussions on topics related to Data Science training.


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What Role Does A Data Scientist Play In A Business Organization?

What Role Does A Data Scientist Play In A Business Organization?

The job of a data scientist is one that is challenging, exciting and crucial to an organization’s success.  So, it’s no surprise that there is a rush to enroll in a Data Science course, to be eligible for the job. But, while you are at it, you also need to have the awareness regarding the job responsibilities usually bestowed upon the data scientists in a business organization and you would be surprised to learn that the responsibilities of a data scientist differs from that of a data analyst or, a data engineer.

So, what is the role and responsibility of a data scientist?  Let’s take a look.

The common idea regarding a data scientist role is that they analyze huge volumes of data in order to find patterns and extract information that would help the organizations to move ahead by developing strategies accordingly. This surface level idea cannot sum up the way a data scientist navigates through the data field. The responsibilities could be broken down into segments and that would help you get the bigger picture.

Data management

The data scientist, post assuming the role, needs to be aware of the goal of the organization in order to proceed. He needs to stay aware of the top trends in the industry to guide his organization, and collect data and also decide which methods are to be used for the purpose. The most crucial part of the job is the developing the knowledge of the problems the business is trying solve and the data available that have relevance and could be used to achieve the goal. He has to collaborate with other departments such as analytics to get the job of extracting information from data.

Data analysis

Another vital responsibility of the data scientist is to assume the analytical role and build models and implement those models to solve issues that are best fit for the purpose. The data scientist has to resort to data mining, text mining techniques. Doing text mining with python course can really put you in an advantageous position when you actually get to handle complex dataset.

Developing strategies

The data scientists need to devote themselves to tasks like data cleaning, applying models, and wade through unstructured datasets to derive actionable insight in order to gauge the customer behavior, market trends. These insights help a business organization to decide its future course of action and also measure a product performance. A Data analyst training institute is the right place to pick up the skills required for performing such nuanced tasks.

Collaborating

Another vital task that a data scientist performs is collaborating with others such as stakeholders and data engineers, data analysts communicating with them in order to share their findings or, discussing certain issues. However, in order to communicate effectively the data scientists need to master the art of data visualization which they could learn while pursuing big data courses in delhi along with deep learning for computer vision course.  The key issue here is to make the presentation simple yet effective enough so that people from any background can understand it.

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The above mentioned responsibilities of a data scientist just scratch the surface because, a data scientist’s job role cannot be limited by or, defined by a couple of tasks. The data scientist needs to be in synch with the implementation process to understand and analyze further how the data driven insight is shaping strategies and to which effect. Most importantly, they need to evaluate the current data infrastructure of the company and advise regarding future improvement. A data scientist needs to have a keen knowledge of Machine Learning Using Python, to be able to perform the complex tasks their job demands.


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Step-by-step guide to building a career in Data Science

Step-by-step guide to building a career in Data Science

With 2.5 quintillion bytes of data being created everyday companies are scrambling to build models and hire experts to extract information hidden in massive unstructured datasets and the data scientists have become the most sought-after professionals in the world.  The job portals are full of job postings looking for data scientists whose resume has the perfect combination of skill and experience. In this world which is being driven by the data revolution, achieving your big data career dreams need a little bit of planning and strategizing. So, here is a step-by-step guide for you.

Grabbing a high paying and skilled data job is not going to be easy, industries will only invest money on individuals with the right skillset. Your job responsibility will involve wading through tons of unstructured data to find pattern and meaning, making forecasts regarding marketing trends, customer behavior and deliver the insight in a presentable format to the company on the basis of which they are going to be strategizing.

So, before you even begin make sure that you have the tenacity and enthusiasm required for the job. You would need to undergo Data science using python training, in order to gain the necessary skills and knowledge and since this is an evolving field you should be ready to constantly upskill yourself and stay updated about the latest developments in the field.

Are you ready? If it’s a resounding yes, then, without wasting any more time let’s get straight to the point and explore the steps that will lead you to become a data scientist.

Step 1: Complete education

Before you pursue data science, you must complete your bachelors degree, if you are coming from computer science, applied mathematics, or, economics that could give you a head start. However, you need to undergo Data Science training, post that to acquire the required skillset.

Step 2: Gain knowledge of Mathematics and statistics

You do not need to have a PHD in either, but, since both are at the core of the data science you must have a good grasp on applied mathematics and statistics. Your task would require you to have knowledge regarding linear algebra, probability & statistics. So, your first step would be to update yourself and be familiar with the concepts if you happen to hail from a non-science background so that you can sail through the rest of the journey.

 Step 3: Get ready to do programming

Just like mathematics and statistics, having a grip on a programming language preferably Python, is essential. Now, why do you need to learn coding? Well, coding is important as you have to work with large datasets comprising mostly unstructured data and coding will help you to clean, organize, read data and also process it. Now the stress is on Python because it is one of the widely used languages in the data science community and is comparatively easier to pick up.

Step 4: Learn Machine Learning

Machine learning plays a crucial role in data science as it helps finding patterns in data and making predictions. Mastering machine learning techniques would enable you develop algorithms for the models and create an automated system that enables you to make predictions in real-time. Consider undergoing a Machine Learning training gurgaon.

Step 5: Learn Data Munging, Visualization, and Reporting

It has been mentioned before that you would mostly be handling unstructured data, which means in order to process that data you must transform that data into a format that is easy to work with. Data munging helps you achieve that. Data visualization is again a must-have skill for a data scientist as it allows you to visually present your data findings that is easy to understand through graphs, charts, while data reporting lets you prepare and present reports for businesses.

Step 6: Be certified

Now that the field has advanced so much, there is a requirement for professionals who have undergone Data Science course. Doing a certification course would upskill you and arm you with industry knowledge. Reputed institutes like Dexlab Analytics offer cutting edge courses such as Python for data science training. If you just follow this step it would take care of the rest of the worries, the best part of getting your training is that here you will be taught everything from scratch so, no need to fret if you do not know programming language. Your learning would be aided by hands-on training.

Step 7: Practice your skills

You need to test the skills you have acquired and to hone the skills you must explore Kaggle, which lets your access resources you need and this platform also allows you to take part in competitions that further helps you sharpen your abilities. You should also keep on practicing by doing projects in order to put the theories into action.

Step 8: Work on your soft skills

In order to be a professional data scientist you must acquire soft skills as well. So along with working on your communication skills, you must also need to develop problem solving skills while learning how business organizations function to understand what would be required of you when you assume the role of a data scientist.

Step 9: Get an internship

Now that you have the skill and certification you need experience to get hired, build a resume stressing on the skills you have acquired and search the job portals to land an internship. It would not only enhance your resume, but, it also gives you exposures to real projects, the more projects you handle the better and you would also learn from the experts there.

Step 10: Apply for a job

Once you have gathered enough experience start applying for full-time positions as now you have both skill and experience. But, do not stop learning once you land a job, because this field is growing many changes will happen so you have to mold yourself accordingly. Be a part of the community, network with people, keep on exploring  GitHub and find out what other skills you require.

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So, those were the steps you need to follow to build a rewarding career in data science. The job opportunities are plenty and to grab the right job you must do big data training in gurgaon. These courses are aimed to prepare individuals for the industry, so get ready for an exciting career!


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Probability PART-I: Introducing The Concept Of Probability

Probability PART-I: Introducing The Concept Of Probability

Today we will begin discussion about a significant concept, probability, which measures the likelihood of the occurrence of an event. This is the first part of the series, where you would be introduced to the core concept. So, let’s begin.

What is probability?

It is a measure of quantifying the likelihood that an event will occur and it is written as P(x).


Key concepts of probability


 
 
A union comprises of only unique values.
 
 
 
 
 

 
 
Intersection comprises of common values of the two sets

 

 

  • Mutually Exclusive Events:- If the occurrence of one event preludes the occurrence of the other event(s), then it is called mutually exclusive event.

P(A∩B) = 0

  • Independent Events:- If the occurrence or non-occurrence of an event does not have any effect on the occurrence or non-occurrence of other event(s), then it is called an independent event. For example drinking tea is independent of going for shopping.
  • Collectively Exhaustive Events:– A set of collectively exhaustive events comprises of all possible elementary events for an experiment. Therefore, all sample spaces are collectively exhaustive sets.
  • Complementary Events:– A complement of event A will be A` i.e. P(A`) = 1 ─ P(A)

Properties of probability

  • Probabilities are non-negative values ranging between 0 & 1.
  • Ω = 1 i.e. combined probability of sample is 1
  • If A & B are two mutually exclusive events then P(A U B)= P(A) +P(B)
  • Probability of not happening of an event is P(A)= 1 ─ P(A)

Rules of Counting the possibilities

  • The mn counting rule:- When a customer has a set of combinations to choose from like two different engines, five different paint colors and three different interior packages , how will he calculate the total number of options available to him? The answer to the question is “ mn counting rule”. Simply multiply the given options, like in our case 2 * 5 * 3 will give us 30.This means the customer has 30 combinations to choose from when it comes to purchasing a car.
  • Sampling from a population with replacement:- Suppose that you roll a dice three times i.e. the number of trials is 3, now if we want to check how many combinations are possible in this particular experiment we use Nn = 63 = 216
  • Sampling from a population without replacement:- When the sample space shrinks after each trial then you use the following formula :-

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Conclusion

There is a video covering the same concept attached down the blog, go through it to be more clear about this.

So, with this we wrap up our discussion on the concept of probability. If you want more informative blogs on Data Science training, then follow the Dexlab Analytics blog. Dexlab Analytics provides machine learning certification courses in gurgaon as well.


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How IoT analytics can help your business grow?

How IoT analytics can help your business grow?

Internet of Things or IOT devices are a rage now, as these devices staying connected to the internet can procure data and exchange the same using the sensors embedded in those. Now the data which is being generated in copious amount needs to be processed and in comes IoT Analytics. This platform basically is concerned with analyzing the large amount of data generated by the devices. The interconnectivity of devices is helping different sectors be in sync with the world, and the timely extraction of data is of utmost significance now as it delivers actionable insights. This is a highly skilled job responsibility that could only be handled by professionals having done artificial intelligence course in delhi.

This particular domain is in the nascent stage and it is still growing, however, it is needless to point out that IoT analytics holds the clue to business success, as it enables the organizations to not only extract information from heterogeneous data but also helps in data integration. With the IoT devices generating almost 5 quintillion bytes of data, it is high time the organizations start investing in developing IoT analytics platform and building a data expert team comprising individuals having a background in Machine Learning Using Python. Now let’s have a look at the ways IoT analytics can boost business growth.

Optimized automated work environment

IoT analytics can optimize the automated work environment, especially the manufacturing companies can keep track of procedures without involving human employees and thereby lessening the chances of error and enhancing the accuracy of predicting machine failure, with the sensors monitoring the equipments and tracing every single issue in real-time and sending alerts to make way for predictive maintenance. The production flow goes on smoothly as a result without developing any glitch.

Increasing productivity

In an organization gauging the activity of the employees assumes huge significance as it directly impacts the productivity of the company, with sensors being strategically placed to monitor employee activity, performance, moods and other data points, this job gets easier. The data later gets analyzed to give the management valuable clues that enable them to make necessary modifications in policies.

Bettering customer experience

Regardless of the nature of your business, you would want to make sure that your customers derive  utmost satisfaction. With IoT data analytics in place you are able to trace their preferences thanks to the data streaming from devices where they have already left a digital footprint of their shopping as well as searching patterns. This in turn enables you to offer tailor-made service or products. Monitoring of customer behavior could lead to devising marketing strategies that are information based.

Staying ahead by predicting trends

One of the crucial aspects of IoT analytics is its ability to predict future trends. As the smart sensors keep tracking data regarding customer behavior, product performance, it becomes easier for businesses to analyze future demands and also the way trends will change to make way for emerging ones and it enables the businesses to be ready. Having access to a future estimate prepares not just businesses but industries be future ready.

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Smarter resource management

Efficient utilization of resources is crucial to any business, and IoT analytics can help in a big way by making predictions on the basis of real-time data. It allows companies to measure their current resource allocation plan and make adjustments to make optimal usage of the available resources and channelizing that in the right direction. It also aids in disaster planning.

Ever since we went digital the streaming of large quantity of data has become a reality and this is going to continue in the coming decades. Since, most of the data generated this way is unstructured there needs to be cutting edge platforms like IoT analytics available to manage the data and processing it to enable industries make informed decisions. Accessing Data Science training, would help individuals planning on making a career in this field.


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Skewness and Kurtosis: A Definitive Guide

Skewness and Kurtosis: A Definitive Guide

While dealing with data distribution, Skewness and Kurtosis are the two vital concepts that you need to be aware of. Today, we will be discussing both the concepts to help your gain new perspective.

Skewness gives an idea about the shape of the distribution of your data. It helps you identify the side towards which your data is inclined. In such a case, the plot of the distribution is stretched to one side than to the other. This means in case of skewness we can say that the mean, median and mode of your dataset are not equal and does not follow the assumptions of a normally distributed curve.

Positive skewness:- When the curve is stretched towards the right side more it is called a positively skewed curve. In this case mean is greater than median and median is the greater mode

(Mean>Median>Mode)

Let’s see how we can plot a positively skewed graph using python programming language.

  • First we will have to import all the necessary libraries.

  • Then let’s create a data using the following code:-

In the above code we first created an empty list and then created a loop where we are generating a data of 100 observations. The initial value is raised by 0.1 and then each observation is raised by the loop count.

  • To get a visual representation of the above data we will be using the Seaborn library and to add more attributes to our graph we will use the Matplotlib methods.


In the above graph you can see that the data is stretched towards right, hence the data is positively skewed.

  • Now let’s cross validate the notion that whether Mean>Median>Mode or not.


Since each observation in the dataset is unique mode cannot be calculated.

Calculation of skewness:

Formula:-

  • In case we have the value of mode then skewness can be measured by Mode ─ Mean
  • In case mode is ill-defined then skewness can be measured by 3(Mean ─ Median)
  • To obtain relative measures of skewness, as in dispersion we use the following formula:-

When mode is defined:-
When mode is ill-defined:-


To calculate positive skewness using Python programming language we use the following code:-


Negative skewness:- When the curve is stretched towards left side more it is called a negatively skewed curve. In this case mean is less than median and median is  mode.

(Mean<Median<Mode)

Now let’s see how we can plot a negatively skewed graph using python programming language.

Since we have already imported all the necessary libraries we can head towards generating the data.|


In the above code instead of raising the value of observation we are reducing it.

  • To visualize the data we have created again we will use the Seaborn and Matplotlib library.


The above graph is stretched towards left, hence it is negatively skewed.

  • To check whether Mean<Median<Mode or not again we will be using the following code:-


The above result shows that the value of mean is less than mode and since each observation is unique mode cannot be calculated.

  • Now let’s calculate skewness in Python.


Kurtosis

Kurtosis is nothing but the flatness or the peakness of a distribution curve. 

  • Platykurtic :- This kind of distribution has the smallest or the flattest peak.
  • Misokurtic:- This kind of distribution has a medium peak.
  • Leptokurtic:- This kind of distribution has the highest peak.


The video attached below will help you clear any query you might have.

So, this was the discussion on the Skewness and Kurtosis, at the end of this you have definitely become familiar with both concepts. Dexlab Analytics blog has informative posts on diverse topics such as neural network machine learning python which you need to explore to update yourself. Dexlab Analytics offers cutting edge courses like machine learning certification courses in gurgaon.


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A Definitive Guide to Machine Learning

A Definitive Guide to Machine Learning

In a world that is riveting towards exploring the hidden potential of emerging technologies like artificial intelligence, staying aware can not only keep you in sync but can also ensure your growth. Among all the tech terms doing the rounds now, machine learning is probably the one that you have heard frequently or, it might also be the term that intrigues you the most. You might even have a friend who is pursuing a Machine Learning course in Gurgaon. So, amidst all of this hoopla why don’t you upgrade your knowledge regarding machine learning? It’s not rocket science but, it’s science and it’s really cool!

Machine learning is a subset of AI that revolves round the concept of enabling a system to learn from the data automatically while finding patterns and improve the ability to predict without being explicitly programmed beforehand. One of the examples would be when you shop online from a particular site, you would notice product recommendations are lining up the page that particularly align with your preferences.  The data footprint you leave behind is being picked up and analyzed to find a pattern and machine learning algorithms work to make predictions based on that, it is a continuous process of learning that simulate human learning process.

The same experience you would go through while watching YouTube, as it would present more videos based on your recent viewing  pattern. Being such a powerful technology machine learning is gradually being implemented across different sectors and thereby pushing the demand for skilled personnel.  Pursuing machine learning certification courses in gurgaon from a reputed institute, will enable an individual to pick up the nuances of machine learning to land the perfect career.

What are the different types of machine learning?

When we say machines learn, it might sound like a simple concept, but, the more you delve deeper into the topic to dissect the way it works you would know that there are more to it than meets the eyes. Machine learning could be divided into categories based on the learning aspect, here we will be focusing on 3 major categories which are namely:

  • Supervised Learning
  • Unsupervised Learning
  • Reinforcement Learning

Supervised Learning

Supervised learning as the name suggests involves providing the machine learning algorithm with training dataset, an example of sort to enable the system to learn to work its ways through to form the connection between input and output, the problem and the solution. The data provided for the training purposes needs to be correctly labeled so, that the algorithm is able to identify the relationship and could learn to predict output based on the input and upon finding errors could make necessary modifications. Post training when given a new dataset it should be able to analyze the input to predict a likely output for the new dataset.  This basic form of machine learning is used for facial recognition, for classifying spams.

Unsupervised Learning

Again the term is suggestive like the prior category we discussed above, this is also the exact opposite of supervised learning as here there is no training data available to rely on. The input is available minus the output hence the algorithm does not have a reference to learn from. Basically the algorithm has to work its way through a big mass of unclassified data and start finding patterns on its own, due to the nature of its learning which involves parsing through unclassified data the process gets complicated yet holds potential. It basically involves clustering and association to work its way through data.

Reinforcement Learning

Reinforcement learning could be said to have similarity with the way humans learn through trial and error method. It does not have any guidance whatsoever and involves a reward, in a given situation the algorithm needs to work its way through to find the right solution to get to the reward, and it gets there by overcoming obstacles and learning from the errors along the way. The algorithm needs to analyze and find the best solution to maximize its rewards and minimize penalties as the process involves both. Video games could be an example of reinforcement learning.

Although only 3 core categories have been mentioned here, there remains other categories which deserve as much attention, such as deep learning. Deep learning too is a comparatively new field that deserves a complete discussion solely devoted to understanding this dynamic technology, focusing on its various aspects including how to be adept at deep learning for computer vision with python.

Machine learning is a highly potent technology that has the power to predict the future course of action, industries are waking up to smell the benefits that could be derived from implementation of ML. So, let’s quickly find out what some of the applications are:

Malware and spam filtering

You do not have to be tech savvy to understand what email spams are or, what malware is. Application of machine learning is refining the way emails are filtered with spams being detected and sent to a separate section, the same goes for malware detection as ML powered systems are quick to detect new malware from previous patterns.

Virtual personal assistants

As Alexa and Siri have become a part of life, we are now used to having access to our very own virtual personal assistants. However, when we ask a question or, give a command, ML starts working its magic as it gathers the data and processes it to offer a more personalized service by predicting the pattern of commands and queries.

Refined search results

When you put in a search query in Google or, any of the search engines the algorithms follow and learn from the pattern of the way you conduct a search and respond to the search results being displayed. Based on the patterns it refines the search results that impact page ranking.

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Social media feeds

Whether it is Facebook or, Pinterest , the presence of machine learning could be felt across all platforms. Your friends, your interactions, your actions all of these are monitored and analyzed by machine learning algorithms to detect a pattern and prepare friend suggestions list. Automatic Friend Tagging Suggestions is another example of ML application.

Those were a couple of examples of machine learning application, but this dynamic field stretches far. The field is evolving and in the process creating new career opportunities. However, to land a job in this field one needs to have a background in Machine Learning Using Python, to become an expert and land the right job.


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What Role Machine Learning Can Play in Identity Theft Detection

What Role Machine Learning Can Play In Identity Theft Detection?

In the digital era we live in, nearly every transaction we do take place online and we leave a trail behind in the process which is easy to track for anyone with considerable skill in hacking. If you take a look at the state of cybercrime you are bound to feel worried because the hackers are also utilizing the latest technology and their recklessness is resulting in incidents like identity thefts.

Identity theft is increasingly becoming a threat for individuals and organizations, resulting in a huge amount of financial loss. Identity theft could occur in different ways, such as via sending fake mails which if you open can be used to grab sensitive information from the device you are using, or, via dumpster-diving methods. The problem with identity theft is that you get to learn about it much later and after losing a significant amount of money. Most of the time the amount lost cannot be recovered.

However, using machine learning techniques it is possible to overcome the shortcomings of traditional methods employed for ID theft detection and stay one step ahead to outwit the perpetrators. Machine learning has the potential to devise a smarter strategy, but, there must be professionals who have done Machine Learning training gurgaon to be able to monitor the whole process. So, let’s take a look at how machine learning can better identity theft detection process.

Authentication tests could be conducted

Machine learning could scan and cross-verify the IDs with unknown database in real-time. Using techniques like facial recognition, biometrics could actually help offer some extra support to make the process absolutely perfect. The best part of implementing machine learning technology is that there would be constant monitoring of the data. By doing so, the detection could be almost instantaneous and people could be alerted before it has a chance to snowball into something big.

Patterns get identified

Machine learning wades through tons of data to identify patterns, which could come in real handy during the process of identity theft detection.  When you use your phone or laptop every day for different tasks, you do that in a set manner, but, when that device gets compromised that pattern would certainly change. While scanning data the machine learning algorithms can detect a threat by spotting an oddity and could help in taking preventive action.

Decisions could be made in real-time

Machine learning can automate the whole process of data analytics and remove the chance of human error. Machine learning also allows us to make decisions in real-time to prevent fraud or, could also send alerts, the implementation of ML can speed up the whole process thereby making it more efficient. The organizations instead of running after false alerts could actually use a solution to address a real threat without wasting a single valuable moment. 

Handling big datasets

Handling a huge amount of data every single day could be an impossible task for a team comprising humans. But, the machine learning system can not only handle giant data sets, but it also thrives on data. The more datasets get fed into the system the more refined and accurate results could be expected of it. It needs data to identify the differences between genuine transactions and fraud cases.

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Keeping the devices secure

Cases like identity theft could take place when devices get stolen. Now machine learning is being integrated with mobile devices to keep the devices protected from malware threats, features like biometric facial recognition are also there to ensure that the device cannot be compromised.

Application of machine learning can not only detect identity thefts but, can also prevent such attacks from happening. However, just implementation is not going to be enough, constant monitoring by a person having Machine Learning Using Python training is necessary. For some reason, if some threat goes undetected without raising any alarm the system might repeat that pattern, so monitoring is important.

 


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