A Real-time Example of Data Science for Beginners to understand in a better way
When we talk about science data , data mining and artificial intelligence only assimilate which is one of the technologies that are changing our lives without seeing in practice how this happens. It is quite complex to find information on the application of this technology to our day to day.
At present, not using all the technological advantages that exist is going a step back in a highly competitive world, a world that is constantly advancing and above all that most processes are moving from outdated systems, obsolete to the efficiency and speed that you They offer the most innovative tools of our time.
Data science is used in different industries in today's world. In marketing it is not only about owning the information, but also about interpreting it and knowing how to connect it with the preferences of the clients to create an identification with the brand. There are other cases where this technology is used as in the creation of inventories so as not to have unnecessary supply and wasted space. In the field of finance, it reduces risks and something important is its use in the selection of personnel, optimizing the hiring process seeking loyalty in future employees.
Today Data Science training institute in Bangalore want to tell you a practical example of how to convert an outdated process that took days or weeks into a system that takes a few minutes in homie.mx by using data science.
An analysis of the profile that is being applied to be the tenant of your property is made When renting an apartment. It can be a basic form provided by the real estate agency literally on paper or a supposedly more elaborate background check. We provide our tenants with a simple digital format to apply where they provide us in a few minutes with information that we process through a predictive model based on clusters. I know, this all sounds very complex but it is not.
The model which has developed includes variables such as age, nationality, occupation, marital status, academic training, tastes, socioeconomic environment and credit history of the sample of people being analyzed. Once we have our information points, we identify similar characteristics between the profiles and create our groups, the clusters mentioned a couple of paragraphs above. In this way we can be more assertive even when we do not have all the information about a new prospect, for example maybe you are a foreigner and you do not have a credit history in Mexico but because of your socioeconomic and demographic data, thanks to the model we elaborate, we can predict that group (cluster) of prospects you look like and what are the habits of that group.
This multidisciplinary process is based on national statistical data where we can know in advance various aspects such as income, possible monthly expenses and financial habits. With all this information, we help each other measure the default risk of each possible tenant and help us understand how to minimize or mitigate a negative action by customers.
The most surprising thing is how assertive we have been when selecting the tenants, it is incredible but the tenants of homie.mx have a delinquency rate below 1% and the few delays we have had since the beginning of operations do not exceed 5 days. This gives owners confidence and breaks the paradigm that technology-based processes are reliable and can replace the old-fashioned methods and traditional habits of any sector.
The fact that knowing that data science advances and revolutionizes all types of industries is a great area of opportunity to seek improvement in processes and, above all, a reduction in risks.Data science helps us predict scenarios and gives us a solution to avoid falling into old mistakes or speculation.
Data Science is not only an accumulation of information, the interesting thing is the interpretation and application of it, in addition to allowing you to know your audience it offers advantages such as anticipating the needs of your customers or in our case having 100% of Success in choosing our clients, therefore we do not fail the owners and the tenants complete a rental process in 24 hours, all thanks to data science from Data Science Certification course in Bangalore team.
Without a doubt, Data Science is one of the factors that will allow us to revolutionize industries, every day we will see more examples in our daily lives of this.A well-known writer of the 70's, describes the scope of the future in today's world well with his phrase " The future is here, it's just not widely distribute yet."
At present, not using all the technological advantages that exist is going a step back in a highly competitive world, a world that is constantly advancing and above all that most processes are moving from outdated systems, obsolete to the efficiency and speed that you They offer the most innovative tools of our time.
Data science is used in different industries in today's world. In marketing it is not only about owning the information, but also about interpreting it and knowing how to connect it with the preferences of the clients to create an identification with the brand. There are other cases where this technology is used as in the creation of inventories so as not to have unnecessary supply and wasted space. In the field of finance, it reduces risks and something important is its use in the selection of personnel, optimizing the hiring process seeking loyalty in future employees.
Today Data Science training institute in Bangalore want to tell you a practical example of how to convert an outdated process that took days or weeks into a system that takes a few minutes in homie.mx by using data science.
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| Data Science Certification Course in Bangalore |
An analysis of the profile that is being applied to be the tenant of your property is made When renting an apartment. It can be a basic form provided by the real estate agency literally on paper or a supposedly more elaborate background check. We provide our tenants with a simple digital format to apply where they provide us in a few minutes with information that we process through a predictive model based on clusters. I know, this all sounds very complex but it is not.
The model which has developed includes variables such as age, nationality, occupation, marital status, academic training, tastes, socioeconomic environment and credit history of the sample of people being analyzed. Once we have our information points, we identify similar characteristics between the profiles and create our groups, the clusters mentioned a couple of paragraphs above. In this way we can be more assertive even when we do not have all the information about a new prospect, for example maybe you are a foreigner and you do not have a credit history in Mexico but because of your socioeconomic and demographic data, thanks to the model we elaborate, we can predict that group (cluster) of prospects you look like and what are the habits of that group.
This multidisciplinary process is based on national statistical data where we can know in advance various aspects such as income, possible monthly expenses and financial habits. With all this information, we help each other measure the default risk of each possible tenant and help us understand how to minimize or mitigate a negative action by customers.
The most surprising thing is how assertive we have been when selecting the tenants, it is incredible but the tenants of homie.mx have a delinquency rate below 1% and the few delays we have had since the beginning of operations do not exceed 5 days. This gives owners confidence and breaks the paradigm that technology-based processes are reliable and can replace the old-fashioned methods and traditional habits of any sector.
The fact that knowing that data science advances and revolutionizes all types of industries is a great area of opportunity to seek improvement in processes and, above all, a reduction in risks.Data science helps us predict scenarios and gives us a solution to avoid falling into old mistakes or speculation.
Data Science is not only an accumulation of information, the interesting thing is the interpretation and application of it, in addition to allowing you to know your audience it offers advantages such as anticipating the needs of your customers or in our case having 100% of Success in choosing our clients, therefore we do not fail the owners and the tenants complete a rental process in 24 hours, all thanks to data science from Data Science Certification course in Bangalore team.
Without a doubt, Data Science is one of the factors that will allow us to revolutionize industries, every day we will see more examples in our daily lives of this.A well-known writer of the 70's, describes the scope of the future in today's world well with his phrase " The future is here, it's just not widely distribute yet."
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