305 BA PYTHON - APR 2022 ANSWER Key
305 BA PYTHON - APR 2022 ANSWER Key
305 BA PYTHON - APR 2022 ANSWER Key
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[5860]-318 [Total No. of Pages
P6895 S.Y.M.B.A. :2
305 BA SC-BA-04 : MACHINE LEARNING & COGNITIVE
INTELLIGENCE USING PYTHON
- By Pratik Patil
NumPy arrays are powerful tools for working with numerical data in Python. They
offer several advantages over standard Python lists:
• Efficiency: NumPy arrays are optimized for fast operations on large
datasets, making them essential for scientific computing and data analysis.
• Flexibility: They can handle multi-dimensional data, representing matrices,
vectors, and tensors.
• Broadcasting: NumPy allows operations on arrays of different shapes,
making it easy to perform element-wise calculations.
• Mathematical functions: It provides a vast library of mathematical functions
for linear algebra, Fourier transforms, random number generation, and
more.
Here are some examples:
1. Creating arrays:
Python
import numpy as np
# 1-dimensional array
numbers = np.array([1, 2, 3, 4, 5])
• Fraud detection
• Medical diagnosis
• Customer segmentation
• Risk assessment
• And more
1. Customer Segmentation:
Imagine a vast sea of customers; clustering helps marketers segment them into
distinct groups based on demographics, purchase history, website behavior, or
other relevant factors. This allows for:
Clustering can identify customer segments at risk of churn based on past behavior
or demographics. This allows marketers to:
Imagine an online clothing retailer. They can cluster their customers based on
purchase history, browsing behavior, and demographics. This might reveal:
By leveraging the power of clustering, marketers can gain valuable insights into
their customers, optimize their marketing efforts, and ultimately drive business
growth.
rows = 5
for i in range(1, rows + 1):
for j in range(1, i + 1):
print("*", end=" ")
print()
output:
*
**
***
****
*****
b) "Machine learning will make companies more efficient and allow them to
streamline business processes of an organisation". Justify the statement.
I completely agree with the statement that "Machine learning will make companies
more efficient and allow them to streamline business processes of an
organization." Here's why:
Increased Efficiency:
• Automation: Machine learning automates repetitive tasks like data entry,
analysis, and reporting, freeing up human employees for more strategic
work.
• Improved Accuracy: Algorithms can analyze vast amounts of data and
identify patterns humans might miss, leading to more accurate decision-
making and less wasted resources.
• Predictive Capabilities: Machine learning can predict future events like
customer churn, equipment failures, and market trends, allowing companies
to proactively address challenges and optimize operations.
Streamlined Business Processes:
• Personalization: Recommendation engines and targeted marketing
campaigns can personalize the customer experience, leading to increased
customer satisfaction and loyalty.
• Resource Optimization: By analyzing data on resource usage, machine
learning can optimize inventory management, scheduling, and logistics,
minimizing downtime and costs.
• Reduced Errors: Algorithmic decision-making reduces human error in areas
like fraud detection, anomaly detection, and quality control, improving
overall process efficiency.
Examples:
• A manufacturing company uses machine learning to predict equipment
failures and schedule preventative maintenance, reducing downtime and
production losses.
• A retail store uses recommendation engines to suggest products to
customers based on their purchase history, increasing sales and customer
satisfaction.
• A bank uses machine learning to detect fraudulent transactions in real-time,
protecting its customers and reducing financial losses.
While concerns exist about potential job displacement, machine learning should be
seen as a tool to augment human capabilities, not replace them. By focusing on
tasks where machines excel and allowing humans to handle the creative and
strategic aspects, organizations can achieve significant increases in efficiency and
streamline their business processes.
Overall, the advantages of machine learning for improving efficiency and
streamlining business processes are undeniable. Companies that embrace this
technology are well-positioned to gain a competitive edge in the years to come.
Do you have any specific examples of how you envision machine learning being
used to streamline business processes? I'd be happy to discuss further.