What are the most frequently used data science methods in business?

Question

What are the most frequently used data science methods in business?

Answer 1

It mainly depends on the problems that the business is facing.

Business often wants predictions of trade, strategies, people buying their products, what their costumers want and optimization of current methods. Mostly prediction methods that try to forecast the demand for example in the next 6 months. If the prediction is "good" then you proceed to decision trees and for that you need probabilities. 

An important part is also bayesian probability i.e. conditional probability.

Another thing is the business basket analysis that means association rules. It is all about finding patterns in the sales, for example, cold drinks and pizza go together. You can get a hands-on project by referring to the following course by Intellipaat which will teach you Data Science from scratch to advance: https://intellipaat.com/data-scientist-course-training/

And if you are more into videos then do check out the following video tutorial which will help you in mastering in the field of Data Science:

If you want a detailed explanation of Data Science then do check out Intellipaat’s blog which will help you in understanding DS: https://intellipaat.com/blog/what-is-data-science/