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Take a Deep Look on How Machine Learning Boosts Business Growth!

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Take a Deep Look on How Machine Learning Boosts Business Growth!

Machine Learning is the technology of the future and the rise of it is, well, shocking! Numerous businesses have already started adopting Machine Learning into their business strategy which is ultimately culminating towards their growth. You can also get the most of Machine Learning by going for the best Machine Learning course in India without wasting hours on the internet.

This new and improving technology is showing marked results in making a particular business more efficient, enhancing customer relationships and driving more sales than ever. You can get right on to Machine Learning Significantly Aids in Improving the Business Performance: Learn the Hows and learn about Machine Learning and its rising curve.

Here we have decided to discuss in details about the ways how Machine Learning is helping business touch great heights:

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Natural Language

One of the major setbacks in the industry of computer science was the inability of computers to comprehend our natural language or the way we speak in our everyday life. This is slowly changing with the rapid growth and considerable research and development on Machine Learning. 

It looks like we have come a long way from the crude search terms that we used to generate the results that we wanted. The AI-driven programs of now, with the help of Machine Learning, can figure out the essence of our conversations and also capitalizing largely on the nuances of our language. Most importantly, they learn from past experiences, which is highly progressive.

Logistics

The retail industry and that of logistics are largely relying on Python for Data Analysis and this in turn, is making them future-proof.

Retail giants like Amazon are encouraging the use of Machine Learning to sharpen the efficiency of their company with new features and technology like “anticipatory shopping” protocol. Retail analytics using Python is becoming formidable.

Even in the field of logistics, the inclusion of Machine Learning is proving a boon!

Manufacturing Industry

Innumerable manufacturing companies are adopting the budding technology of Machine Learning and utilizing it in almost every stage of production, simply because the AI-driven technology reduces unnecessary expenses. 

Companies like Seebo, are taking up Python seriously to build accurate data analytics software. Moreover, machine learning is estimated to cut down on the delivery times by 30% and surprisingly save fuel by 12%. According to the reports, the programs fed on AI would even reduce the maintenance costs by 20 – 30%.

Deep Learning and AI using Python

Consumer Data

We have already seen a world of data collection which has been on a rise for years. Now, finally, with the rise of machine learning, the companies are looking forward to making some use of all these data that they have accumulated. In the coming years, we will see AI improving powered by Machine Learning to make the world productive and smart all the more.

You can take a look at A DISCUSSION ABOUT ARTIFICIAL INTELLIGENCE: KNOWING AI CLOSELY if you are interested in AI. Stay glued to our website for more updates and information from the world of technology!

 

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Calculating Geometric Mean Using R and Python

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Calculating Geometric Mean Using R and Python

In this blog, we are going to discuss the Geometric Mean and its application using Python and R.

Geometric Mean of group of ‘n’ observations is the nth root of their product. It is defined only when all observations have the same sign and none of them is zero.

Application:

Calculate the Geometric Mean of the salary increment of 12 employees. From the following table, calculate the average salary increment of the year (2019-2020):-

 

Name

Salary Increment in

Percentage (%)

Ritesh

10.09%

Heena

15.45%

Kritika

9%

Anuradha

13.06%

Gaurav

20%

Prakash

14%

Aarti

16%

Meena

6.25%

Utkarsh

12.85%

Chirag

10%

Neha

18%

Smrita

21.36%

 

Calculate the Geometric Mean in R:

So, from the data of the employee’s in R we calculate the G.M. and get that the average salary increment in the year (2019-2020) = 13.17618 or 13.18% (approx).

Calculate the Geometric Mean in Python:

First, make a data frame in Python from the following table.

Now, calculate the Geometric Mean from the data-frame.

So, from the data of the employee’s in Python we calculate the G.M. and get that the average salary increment in the year (2019-2020) = 13.176183416401196 or 13.18% (approx).

We use Geometric Mean for calculating ratios, rates and percentages. And it is not affected by the extreme value or outlier. In this particular problem, we use Geometric Mean because an average of the salary increment of the employee’s not affected by the extreme highest or extreme lowest value, that’s why the salary increment rates of Meena and Smrita do not have any effect on the total average rate.

Geometric Mean gives small value than Arithmetic Mean.

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Note: This is a continuation of the blog: Statistical Application in R & Python: Chapter 1 – Measure of Central Tendency. It would be better to go through the first installment and then read this one. More blogs are to be followed, so stay tuned.

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Statistical Application In R & Python: Chapter 1 – Measure Of Central Tendency

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Statistical Applcation In R & Python: Chapter 1 – Measure Of Central Tendency

Statistical analysis helps explore data relationship and develop high-end models to frame better decisions. It’s an intricate process of collecting and evaluating data to define the nature of data that has to be analyzed.

Below, we dig into the basics of statistical application in R and Python using the measure of central tendency.

  • Introduction:-

As body methods for the study of numerical data, if some rows or columns are too long, in such cases, it becomes necessary to summarize data in an easily manageable form. The purpose is to serve by classifying the data in the form of frequency distribution and various graphs. When data relate to a variable, the process of summarization can be taken a step further by using certain descriptive measures. The dim is to focus on certain features that are central frequency and description.

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  • Central Tendency :

In a set of data, they have a tendency, notwithstanding their variability, to cluster-around a central value and the tendency of the quantitative statistical observations is called central tendency.

The three measures of the central tendency are commonly used is:-

  • Mean
  • Median
  • Mode

The description of these 3 estimators start below:-

  • Mean:-

Mean is the average of central tendency and is the most commonly used measures.

The concept of mean is divided into three parts:-

  • Arithmetic mean.
  • Geometric mean.
  • Harmonic mean.

Mainly the mean refers to an arithmetic mean.

  • Arithmetic Mean (A.M.):-

The arithmetic mean of a set of observations is defined to be their sum, divided by the number of observations.

For n numbers of observation (x1,x2,… ,xn )

  • Weighted A.M.

For frequency distribution where  have  frequencies. (i=1,2,3…)

  • Application of A.M.:-

Let’s, calculate the mean of Age, Height & Weight from the given data.

NameSexAgeHeightWeight
RiteshM246.9112.5
HeenaF235.6584
KritikaF236.5398
AnuradhaF246.28102.5
GauravM246.35102.5
PrakashM225.7383
AartiF225.9884.5
MeenaF256.25112.5
UtkarshM236.2584
ChiragM225.999.5
NehaF215.1350.5
SmritaF246.4390

Calculating Mean in Python:

Therefore,

Age (Mean) = 23.08333333, Height (Mean) = 6.12, weight(Mean) = 85.625

Calculating Mean in R:

  • Application of Weighted A.M.:-

The weighted mean is denoted that the mean with frequency.

Data to solve:

Calculate the average price per ton of coal purchased by the industry for the half-year.

Month

Price Per TonTons Purchased

January

Rs. 52.4926

February

Rs. 62.2334
MarchRs. 87.26

40

AprilRs. 45.25

54

MayRs. 78.56

13

June

Rs. 69.25

45

Data to solve:

Month

Price (Rs)

Per Ton

(x)

Tons

Purchased

(f)

fx=y

(Main Data)

January

 52.49261364.74

February

 62.2334

2115.82

March

 87.2640

3490.4

April

45.2554

2443.5

May

 78.5613

1021.28

June

69.2545

3116.25

Total395.04N=212

13551.99

 

The price is denoted as x (52.49, 62.23, 87.26, 45.25, 78.56, 69.25 [in Rs.])=395.04

The amount of purchased (frequency) is denoted by f (26, 34, 40, 54, 13, 45) = 212 (N)

Then multiply the x and f and we get the total amount which is denoted by y, fx(y) = 13551.99

Calculate Weighted Mean in R:

Calculate Weighted Mean in Python:

To calculate the weighted mean from R & Python we get the same result = 63.9244811.

Want to know more about the nature of data? Keen to perform high-end statistical analysis using Python and R? Follow DexLab Analytics, an excellent Python training center in Gurgaon, India. Our team of consultants will help you learn the basics of R and Python in the easiest manner possible.

 

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