RNS INSTITUTE OF TECHNOLOGY

(AICTE Approved, VTU Affiliated and NAAC ‘A’ Accredited)(UG Programs – CS, ECE, ISE, EIE and EEE
have been Accredited by NBAFor the Academic Years 2018-19, 2019-20 and 2020-21)
Channasandra, Dr. Vishnuvardhan Road, Bengaluru - 560098

EMERGING EXPONENTIAL TECHNOLOGIES

20MBA301

THIRD SEMESTER, MBA- 2021-22

THIS NOTES IS FOR THE CIRCULATION OF THE DEPARTMENT OF MBA-RNSIT ONLY

 EET-MODULE 2 RNSIT – MBA

Data Science
Overview for Data Science; Definition of data and information; Importance of
Data Science, Data types and representation; Data Value Chain; Data
Acquisition; Data Analysis; Data Curating; Data Storage; Data Usage; Basic
concepts of Big Data.

Overview of Data Science

Data science is the study of data. Like, biological sciences are a study of biology, physical
sciences it’s the study of physical reactions. Data is real, data has real properties, and we need
to study them if we’re going to work on them. Data Science involves data and some signs.

It is a process, not an event. It is the process of using data to understand too many different
things, to understand the world. Let suppose when you have a model or proposed explanation
of a problem, and you try to validate that proposed explanation or model with your data.

It is the skill of unfolding the insights and trends that are hiding (or abstract) behind data. It’s
when you translate data into a story. So, use storytelling to generate insight. And with these
insights, you can make strategic choices for a company or an institution.

Although the words "data" and "information" are frequently used interchangeably, they have
different meanings. Data can be a number, symbol, or text, which may not mean anything to
individuals on its own. However, when data is processed and put in context, they bear a
meaning. This means data can be used for decision-making, calculations, or discussions. The
data then becomes information.

Data

 Data is raw, unorganized facts that need to be processed. Data can be something simple and
seemingly random and useless until it is organized.
 When data is processed, organized, structured or presented in a given context so as to make it
useful, it is called information.
 By knowing data type, researcher will apply necessary statistical measurements to conclude
certain assumptions about the data.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 1
 EET-MODULE 2 RNSIT – MBA

 Data comprises facts, observations, perceptions, statements, numbers, characters, symbols,

image, etc

Information
 Information is a set of data which is processed, structured, or presented in a meaningful way
according to the given requirement.
 It is processed data which includes data that possess context, relevance, and purpose.
 Information assigns meaning and improves the reliability of the data.
 It helps to ensure undesirability and reduces uncertainty. So, when the data is transformed into
information, it never has any useless details.

KEY DIFFERENCE
Data Information
Meaning Data is collection of raw and Information is structured or
unorganized facts in the form of organized form of those facts in
text, numbers, images, symbols etc. context to make it useful.
Purpose Data does not have any specific Information has a purpose that is
purpose and not significant to a given while interpreting the data and
business. can be significant to business by
itself.
Dependency Data is not always useful and Information is useful, when data is
and usefulness independent by its nature. processed appropriately and
dependent on data.
Representation Graphs, tables, flowcharts etc. Ideas, thoughts etc.
Understanding Difficult for user due to lack of Easy due to orderly format.
sequence or order.
Measurement Storage units: bits, and bytes Meaningful units: time, and quantity.

As the world entered the era of big data, the need for its storage raised. Building a framework
and solutions to store data was the main challenge and concern for the enterprise industries
until 2010. With emergence of Hadoop and other frameworks solved the problem of storage,
the focus has shifted to the processing of this data.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 2
 EET-MODULE 2 RNSIT – MBA

Data Science
 It combines multiple fields, including statistics, mathematics, scientific methods, artificial
intelligence (AI), specialized programming, and advanced analytics to extract valuable insights
from structured and unstructured data.
 It applies predictive analytics, prescriptive analytics and machine learning (ML) to help users
predict and optimize business outcomes.
 Data science encompasses preparing data for analysis and processing, performing advanced
data analysis, and presenting the results to reveal patterns and enable stakeholders to draw
informed conclusions.
 Data preparation can involve cleansing, aggregating, and manipulating it to be ready for
specific types of processing.
 Analysis requires the development and use of algorithms, analytics and AI models.
 It is driven by software that combs through data to find patterns within to transform these
patterns into predictions that support business decision-making.
 The accuracy of these predictions must be validated through scientifically designed tests and
experiments. And the results should be shared through the skillful use of data visualization
tools that make it possible for anyone to see the patterns and understand trends.
 One who practice data science are called data scientists.

Importance of Data Science

 It enables companies to understand their customers in a much enhanced and empowered

manner.
 It can be used to identify hidden patterns within data and predict trends.
 It focuses on the use of statistical techniques to extract knowledge from data and assist
companies in making smarter business decisions.
 It helps companies to acquire potential clients by analysing their requirements and
understanding their preferences.
 It enables the companies to create better and innovative products as per the requirements of
their customers.
 It helps the companies in designing and predicting success rate of marketing strategies and
advertisements.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 3
 EET-MODULE 2 RNSIT – MBA

 It helps the companies in identifying those decisions that affect business performance and
growth.
 It enhances the analytical capacity of senior-level staff by tracking, and recording performance
metrics and other useful information.
 It helps in preventing debt default, used in fraud detection, and can prevent the financial
losses of large corporations.

Common Data Types (Programmer/Data Science Perspective)

[Link] Data Types

1.1 Integer (Int)

It is the most common numeric data type used to store numbers without a fractional
component. Integers are whole numbers and can be positive or negative (-707, 0, 707).

1.2 Floating Point (Float) or Decimal

It is also a numeric data type represents numbers that are in decimal format, like monetary
values (707.07, 0.7, 707.00).

2. Character (Char)
It is a data type accepts character values from the user. These characters include single letter,
digit, punctuation mark, symbol, or blank space.

3. Strings

A string consists of one or more characters, which can include letters, numbers, and other types
of characters.

Ex: Address = “123 Smart Street”

Phone no is stored as string (+1-999-666-3333) but, can also be stored as

an integer (9996663333).

4. Boolean (Bool)
 It represents the values as true and false.
 When working with the Boolean data type, it is helpful to keep in mind that sometimes a
Boolean value is also represented as 0 (for false) and 1 (for true).

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 4
 EET-MODULE 2 RNSIT – MBA

5. Composite Data Types

The data types such as Numeric, Strings, and Boolean are often referred to as primary or
primitive data types.

These data types are believed to be one of the fastest modes to execute operations on Data. The
syntax used for defining these data types is different for each programming language.

A composite data type is obtained by combining more than one primitive data type. These
are also referred to as data structures.

Common examples of composite data types are lists or arrays.

5.1 Array or List

 Array is a data type that stores a number of elements in a specific order, typically all of the
same type.
 A list contains elements of one particular data type.
Ex: List could contain strings. Names of all players on a cricket team. Each name is a string,
but when you organize all the names together, they form a list.
 Since an array stores multiple elements or values, the structure of data stored by an array is
referred to as an array data structure.
 Each element of an array can be retrieved using an integer index (0, 1, 2), and the total number
of elements in an array represents the length of an array

6. Void:
Void means without any value. This data type is widely used in C and C++ languages. It
indicates that it has no value/empty. Void data type is used for those function which does not
returns a value.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 5
 EET-MODULE 2 RNSIT – MBA

Data Types (Statistics Perspective)

Data Types and Representation;

Qualitative or Categorical Data

 Qualitative data, also known as the categorical data, describes the data that fits into the
categories.
 Qualitative data are non-numerical in nature and hence it cannot be measured.
 It is more applicable when there are limited or fewer values possible for that data.
 Categorical data can be arranged categorically based on the attributes and properties of a thing
or a phenomenon such as a gender, religion, method of treatment, qualifications etc.
 This type of data is collected through methods of observations, one-to-one interviews,
conducting focus groups, and similar methods.
 Sometimes categorical data can hold numerical values (quantitative value), but those values do
not have a mathematical sense. Examples of the categorical data are birthdate, school postcode.
Here, the birthdate and school postcode hold the quantitative value, but it does not give
numerical meaning.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 6
 EET-MODULE 2 RNSIT – MBA

Nominal Data
 Nominal data is a type of qualitative data which assigns a name as a value.
 This value is just a representation of which category the value belongs to. It makes no sense to
do any calculation upon these values.
 No further analysis is possible other than being used for classification / categorization.
 These categories are mutually exclusive; there is no overlap between the categories.
 They have some kind of an identity.
 This is merely to make the data collection and analysis process easier for researchers.
 There is usually no intrinsic ordering to nominal data i.e no one category is greater than or
“worth more” than another.
Ex: Company working in, region, name of a person, student ID number etc…

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 7
 EET-MODULE 2 RNSIT – MBA

Ordinal Data
 It is similar to nominal data, but ordinal data can be ranked in relation to other values in the
same variable.
 Ordinal data values have some level indications within themselves, so as to indicate the order
of the list.
 However, the numbers are not mathematically measured or determined but are merely assigned
as labels for opinions.
Ex:
 Employee performance (Satisfied, Average, Dissatisfied) Scale of 1 to 5.
 Employment status (Employed, Unemployed, Retired, etc.)

Quantitative Data
 Quantitative data is also known as numerical data which represents the numerical value. It can
be counted and can be assigned with any number from 0 or negative numbers up to infinity.
 Numerical data gives information about the quantities of a specific thing and hence it can be
measured such as height, weight, salary, size, temperature etc.
 Quantitative data tends to be structured in nature and is suitable for statistical analysis of these
numbers can lead to establishing some conclusive results.
 The quantitative data can be further classified into two different types based on the data sets i.e
discrete data and continuous data.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 8
 EET-MODULE 2 RNSIT – MBA

Discrete Data
 It is a type of numerical data with countable elements and the data variables cannot be divided
into smaller parts.
 Discrete data includes discrete variables that are finite, numeric, countable, and non-negative
integers (5, 10, 15, and so on).
 Discrete data can be easily visualized and demonstrated using simple statistical methods such
as bar charts, line charts, or pie charts.
 Discrete distributions make analyzing discrete values more practical.
 Discrete data remains constant over a specific time interval.
Ex:

 The number of students in a class.

 The number of workers in a company.
 The number of computers in each department.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 9
 EET-MODULE 2 RNSIT – MBA

Continuous Data
 It is a type of numerical data that refers to the unspecified number of possible measurements
between two realistic points.
 It changes over time and can have different values at different time intervals.
 Continuous data is measured using data analysis methods such as line graphs, skews, and so
on.
 Regression analysis is the most common method used for analysing continuous data.
Ex: Height, Weight, length, time, temperature, age, and so on
*Continuous data can be further classified by interval data or ratio data

Dot plot is a type of graph that uses dots to represent data along a number line. A dot plot is
similar to a bar graph because the height of each “bar” of dots is equal to the number of items
in a particular category.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 10
 EET-MODULE 2 RNSIT – MBA

Data Value Chain

 Within the field of Business Management, Value Chains have been used as a decision support
tool to model the chain of activities that an organisation performs in order to deliver a valuable
product or service to the market.
 The data value chain provides a framework to visualize the life cycle of data, from collection
to using them for impact.
 In other words, it categorizes all of the various steps required to transform raw data into useful
insights.
 The value chain categorizes the generic value-adding activities of an organization allowing
them to be understood and optimised.
 A value chain is made up of a series of subsystems each with inputs, transformation processes,
and outputs.
 The value chain describes connections between each step that change low-value inputs into
high-value outputs.
 As an analytical tool, the value chain can be applied to information flows to understand the
value-creation of data technology.
 The European Commission sees the data value chain as the “centre of the future knowledge
economy, bringing the opportunities of the digital developments to the more traditional sectors
(e.g. transport, financial services, health, manufacturing, retail)”
 The data value chain can be used as a management tool to monitor and evaluate the data
production process.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 11
 EET-MODULE 2 RNSIT – MBA

Data Acquisition:
 It is the process of gathering, filtering, and cleaning data before it is put in a data warehouse or
any other storage solution on which data analysis can be carried out.
 This is the most decisive stage in the whole data value chain process as the incoming data can
be high intensity, high variability, and filtering.
 The data gathering process can involve different types of data structured or unstructured data,
event processing or sensor networks, protocols or real-time data.
 Infrastructure requirements would be one of the major big data challenges in data acquisition.
 The infrastructure required to support the acquisition of big data must deliver low, predictable
latency in both capturing data and in executing queries; be able to handle very high transaction
volumes, often in a distributed environment; and support flexible and dynamic data structures.

Data Analysis:
 It is concerned with making the raw data acquired amenable to use in decision-making as well
as domain-specific usage.
 Data analysis involves exploring, transforming and modelling data with the goal of highlighting
relevant data, synthesizing and extracting useful hidden information with high potential from
a business point of view.
 Related areas include data mining, business intelligence, and machine learning.

Data Curation:
 It is the active management of data over its life cycle to ensure it meets the necessary data
quality requirements for its effective usage.
 Data curation processes can be categorized into different activities such as content creation,
selection, classification, transformation, validation, and preservation.
 Data curation is performed by expert curators that are responsible for improving the
accessibility and quality of data.
 Data curators (also known as scientific curators, or data annotators) hold the responsibility of
ensuring that data are trustworthy, discoverable, accessible, reusable, and fit their purpose.
 A key trend for the curation of big data utilises community and crowdsourcing approaches.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 12
 EET-MODULE 2 RNSIT – MBA

Data Storage:
 The traditional data storage methods like Relational database Management Systems are not a
solution for the new Big Data of Industry 4.0.
 With scalability goal in mind, data storage solutions like Hadoop Framework, No SQL, cloud
storage, etc have been designed.
 The data privacy and complexity grow when data volume increases.

Data Usage:
 Data Usage is basically dependent on data analysis and business processes to serve companies
in decision-making and increasing productivity.
 Data usage can enhance business competitiveness through reduction of costs, increased added
value, or any other parameter that can be measured against existing performance criteria.

Big Data
Big data is exactly what the name suggests, a “big” amount of data.

 “Big data is high volume, high velocity, and/or high variety information assets that require new
forms of processing to enable enhanced decision making, insight discovery and process
optimization”
 Big Data is data set that is large in terms of volume, diverse, composed of both structured as
well as unstructured and which is more complex in nature. Because of its complexity,
traditional data processing software cannot handle it.
 Big Data allows companies to address issues they are facing in their business, and solve these
problems effectively using Big Data Analytics.
 Companies try to identify patterns and draw insights from this vast data so that it can be acted
upon to solve the problems in given situation.
Ex: Facebook generates 500+terabytes of new data from likes, photos, video uploads, message,
comments etc. everyday.

Big Data sources:

1. Media (Images, Audio, Video, Facebook, twitter, YouTube, Instagram)
2. Cloud (Private, Public)

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 13
 EET-MODULE 2 RNSIT – MBA

3. IoT (Smart Factory, Smart Cities, Smart Healthcare, Smart Transport)

4. Data Base (MS Access, DB2, Oracle, SQL, and Amazon Simple)

Types of Big Data

1. Structured: It includes quantitative data that is stored in an organized manner. It consists of

numerical and text data. It is easy to analyze and generally stored in a relational database and
can be queried using Structured Query Language (SQL).
2. Unstructured: It includes qualitative data that lacks any predefined structure and can come in a
variety of formats (images, mp3 files, wav files, etc.). It is stored in a non-relational database
and can be queried using NoSQL.
3. Semi-structured: Data as a structured in form but it is actually not defined and cannot be stored
in the form of rows and columns. Data contains tags and elements which is used to group data
and organized in a hierarchy. Ex: E-mails, Web pages

5 Vs of Big Data.
 Volume (Amount of data): refers to the amount of data that is being collected. The data
could be structured or unstructured.
 Velocity (Speed of data): refers to the rate at which data is coming in.
 Variety (Range of data types/sources): refers to the different kinds of data (data types,
formats, etc.) that is coming in for analysis.
 Value (Usefulness): refers to the usefulness of the collected data.
 Veracity (Quality): refers to the quality of data that is coming in from different sources.

Application of Data Science

Health Care

 Drug Discovery: Pharmaceutical industries are heavily relying on data science to solve their
problems and create better drugs for the people.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 14
 EET-MODULE 2 RNSIT – MBA

 Predictive Analytics: Predictive model uses historical data, finds patterns and generates
accurate predictions on diseases.

 Monitoring Patient Health: IoT devices, that are present as wearable devices track heartbeat,
temperature etc of the users and further used for analysis.

 Providing Virtual Assistance platforms: Patient can enter his or her symptoms in the input and
get insights about the various possible diseases based on the confidence rate.

Banking

 Credit Risk Modeling: It allows banks to analyze how their loan will be repaid and formulate
new strategies for assessing their performance.

 Fraud detection: It involves monitoring and analysis of the user activity to find any usual or
irregularities in transactional patterns.

 Managing Customer Data: Banking organizations are using various tools and techniques (DS,
ML) for transforming this data into valuable insights, devising new strategies for better revenue
generation.

 Customer Support: Providing effective customer support and services (replying to

customer’s questions and complaints) can help companies to engage their customers for a
longer period of time.

Retail Industry

 Market analysis: Price Optimization: Record of customers’ data, along with their likes and
dislikes, helps retailers set the appropriate price for their products and advertisements.

 Price Optimization: By using a real-time optimization model, the retailers have an opportunity
for attracting the customers to retain their attention and make use of personal pricing schemes.

 Inventory Management: The integration of ML algorithms and data analysis platforms has
given retailers robust predictive analytics capabilities, enabling them to stock their stores with
the right products at the right time.

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 15
 EET-MODULE 2 RNSIT – MBA

 Customer Experience: Data science enables them to develop robust solutions such as chatbots
to interact with consumers, thus personalizing their shopping experience.

Agriculture

 Managing Crop Diseases and Pests: Companies have developed user-facing platforms that
analyze when to apply pesticides and how much to use. (IoT) sensors and artificial intelligence
to determine the kind of insects on a crop.

 Yield Predictions: IBM has a platform that estimates corn yields two to three months in
advance, reducing unpleasant surprises for agricultural professionals.

 Supply chain tracking: Big data helps farmers and suppliers optimize fleet management
software to increase delivery reliability, improve routing, cutting transportation costs.

 Reduce food waste: 20% to 30% of food is wasted today at various stages of the supply chain.
AgriTech can save as much as $155–405 billion a year by 2030.

 Automated Irrigation System: farmers face is the water scarcity, so to improve the usage of
water drip irrigation which is implemented as Automated irrigation system

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 16
EET-MODULE 2 RNSIT – MBA

Difference between Small and Big Data

Differentiating Factor Small Data Big Data

Nature and Volume Small, and obtained in Large or Complex, and
organized manner Obtained in unorganized
manner
Velocity Steady flow, accumulation is at Constant, accumulation is at
lower rate faster rate
Variety Fixed schema, tabular form Tabular data, text files,
and XML formats images, videos
Value Business intelligence, analysis Data mining for prediction,
and reporting recommendation
Infrastructure Scalable hardware, local Cloud
servers
Query language SQL Python, R, Java

This document is intended for internal circulation in the Dept of MBA, RNSIT only. Page 17