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The Art of Data-Driven Business

You're reading from   The Art of Data-Driven Business Transform your organization into a data-driven one with the power of Python machine learning

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Product type Paperback
Published in Dec 2022
Publisher Packt
ISBN-13 9781804611036
Length 314 pages
Edition 1st Edition
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Author (1):
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Alan Bernardo Palacio Alan Bernardo Palacio
Author Profile Icon Alan Bernardo Palacio
Alan Bernardo Palacio
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Table of Contents (17) Chapters Close

Preface 1. Part 1: Data Analytics and Forecasting with Python
2. Chapter 1: Analyzing and Visualizing Data with Python FREE CHAPTER 3. Chapter 2: Using Machine Learning in Business Operations 4. Part 2: Market and Customer Insights
5. Chapter 3: Finding Business Opportunities with Market Insights 6. Chapter 4: Understanding Customer Preferences with Conjoint Analysis 7. Chapter 5: Selecting the Optimal Price with Price Demand Elasticity 8. Chapter 6: Product Recommendation 9. Part 3: Operation and Pricing Optimization
10. Chapter 7: Predicting Customer Churn 11. Chapter 8: Grouping Users with Customer Segmentation 12. Chapter 9: Using Historical Markdown Data to Predict Sales 13. Chapter 10: Web Analytics Optimization 14. Chapter 11: Creating a Data-Driven Culture in Business 15. Index 16. Other Books You May Enjoy

Clustering data and reducing the dimensionality

The process of clustering involves grouping the population or data points into a number of groups so that the data points within each group are more similar to one another than the data points within other groups. Simply said, the goal is to sort any groups of people who share similar characteristics into clusters. It is frequently used in business analytics. How to arrange the enormous volumes of available data into useful structures is one of the issues that organizations are currently confronting.

Image segmentation, grouping web pages, market segmentation, and information retrieval are four examples of how clustering can help firms better manage their data. Data clustering is beneficial for retail firms since it influences sales efforts, customer retention, and customer shopping behavior.

The goal of the vector quantization technique known as “K-means clustering,” which has its roots in signal processing, is to...

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