Data Science: Applications, Techniques, and Ethical Considerations
What is Data Science?
Data science is the study of data to extract meaningful insights for business. It is a multidisciplinary approach that combines principles and practices from the fields of mathematics, statistics, artificial intelligence, and computer engineering to analyze large amounts of data. This analysis helps data scientists to ask and answer questions like what happened, why it happened, what will happen, and what can be done with the results.
A Look Back at Data Science
The term “Data
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Management – Meaning
- Management means steering an organization towards specified objectives through certain processes.
- The collective body of those who manage or direct any enterprise.
- Management means the act of getting people together to accomplish desired goals.
- Management can also refer to the person or people who perform the act(s) of management.
Meaning/Definition of Educational Management
- “Steering an educational institution towards specified objectives through certain processes.” – Paul Monroe
- Educational
Project Resource Management: Cost, Risk, and Quality
Project Resource Considerations
Projects always involve trade-offs between resources, schedule, human resources, costs, quality, and scope. Resources are limited, and Project Managers must recognize these limitations to avoid overpromising. People often constitute a large portion of the total project cost. Managing people is the most challenging aspect of a project. Resource availability, especially human resources, is a major constraint.
Resource Responsibilities on a RACI Chart
A Responsibility Assignment
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Production Function
The production function is the transformative function of manufactured goods, services, or products. The generic objective of a company is the organization, management, and control of the processing of inputs into outputs, in order to make arrangements with maximum economic efficiency and thus contribute to the overall objective of the company.
The production function is in competition with the department of production (logistics, manufacturing, operations). In the production process,
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Business Characteristics for Digital Businesses
Digital businesses have several defining characteristics that distinguish them from traditional models. Here are the main characteristics:
Digital businesses prioritize creating a seamless, personalized customer experience (CX), focusing on customer needs rather than simply selling products. This approach shifts from product-centered to experience-centered models, enhancing customer satisfaction and loyalty.
Digital businesses continuously gather, analyze,
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Project Management Fundamentals
Project: A non-recurring set of clearly defined activities to achieve one or more objectives within a defined timeframe.
Project Management: The philosophy that defines the methodology for managing and implementing the computerization of an organization.
Advantages of Project Management
- Order at work, facilitating team production.
- Easy evaluation.
- Greater control and exploitation of resources.
- Defined and formal communication channels.
- Easy work division based on responsibility