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- Finance and Banking
Finance and banking industries apply software and technology in combination with algorithms and methods to gather, process, and analyze data in order to gain insights, make decisions and fulfill regulatory requirements. Interactive data analytics benefits strongly from powerful tools like IPython and libraries like pandas. Two of the top financial companies using Python to analyze their data are Goldman Sachs and PayPal.
Python is used in data Science applications in the retail industry for price optimization, future performance prediction, accommodating small-scale retailers, demand predictions, and identifying customers.
Scikit Learn and other libraries and tools available through Python, and algorithms take into account internal customer data and order history, as well as external factors such as weather and climate. A large data set can be very intimidating but skilled data science professionals know how to approach it and quickly get the basic facts from it, making the course of analyzing it a lot easier. By using the right data science techniques, construction companies can seamlessly optimize the raw materials usage by predicting the targeted materials required based on the concrete mix requirements and plant performance.
Proficient programming skills in Python helps data science professionals face massive amount of heterogeneous data, scalable machine learning and data mining algorithms and systems. Healthcare organizations use data science for deriving insights and improving care delivery and reducing waste.
Data science plays an important role in the telecommunications network landscape. It helps telecom providers offer much more diversity in their services by segmenting the market ever more accurately and providing the exact deals different customers will want.
About the author: Nisha Negi is a Technical Content Writer at Multisoft Systems. She writes blog posts and articles on various technical subjects. She is an experienced IT professional, and bears immense knowledge of the latest technology. She stays current with all the ongoing and upcoming certifications. Her way of expression is contemporary and crisp.