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What is Mathematical Optimization?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Mathematical optimization is the process of finding the best solution to a problem, often under some constraints. It involves identifying the variables and objective function that describe the problem, specifying the constraints that the solution must satisfy, and then finding the values of the variables that optimize the objective function subject to the constraints.

Optimization problems can be classified into two main types: linear and nonlinear. In linear optimization, the objective function and the constraints are all linear functions of the variables, and the solution can be found using techniques such as linear programming. In nonlinear optimization, the objective function and/or the constraints are nonlinear, and more advanced techniques such as gradient descent or Newton's method may be required to find the optimal solution.

Optimization is used in a wide range of fields, including engineering, economics, finance, and operations research. Some common applications include portfolio optimization, scheduling and routing problems, and machine learning, among others.

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Data Science Jobs - How and where to get started?

04/07/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Starting a career in Data Science can vary depending on your background and experience. Here are some ways to get started in the field:

Degree in a relevant field: A bachelor's or master's degree in computer science, statistics, mathematics, physics, or another related field can be a good starting point for a career in Data Science.

Data Analysis and Programming Skills: Experience in data analysis, programming, and working with statistical methods are essential for a career in Data Science. It is advisable to gain experience working with Python, R, SQL, and other relevant tools and technologies.

Internships and Volunteering: Internships and volunteering in Data Science projects or with companies can help gain practical experience and skills.

Online courses and certifications: Online courses and certifications in data science and related fields, such as data mining, machine learning, and artificial intelligence, can help gain knowledge and skills.

Networking: connecting with professionals and others in the industry can help identify potential job opportunities and gather information about the industry.

Some of the most common entry-level positions in data science include data analyst, data scientist, business analyst, and machine learning engineer. Most companies offering data science positions are looking for applicants with a combination of technical skills and an ability to interpret data and turn it into business results.

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Why you can't get around Python

03/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Python is one of the most widely used programming languages in the world and is popular with developers and businesses alike. Here are some reasons why you can't avoid Python:

Simple syntax

Python has a simple, easy-to-understand syntax that makes it easy to learn, even for beginners. The clear syntax also makes it easier to read and understand code, which makes it easier to collaborate with other developers.

Wide range of applications

Python can be used in many areas, including web development, data analysis, artificial intelligence, machine learning, and many more. This versatility makes Python one of the most important programming languages in the world today.

Diverse libraries and frameworks

Python has a large number of libraries and frameworks that make it easy for developers to create complex projects quickly and efficiently. Libraries like NumPy and Pandas are essential in data analysis and machine learning.

Large developer community

Python has a large and active developer community that is constantly developing new libraries, frameworks, and tools and making them available to the community. This community promotes the exchange of ideas and knowledge and contributes to the continuous improvement of Python.

Companies rely on Python

Python is used by many large companies such as Google, Amazon, Netflix, and IBM. These companies use Python in a variety of areas, from data analysis to web application development. When large companies use Python, it is a sign that it has a strong future.

Conclusion:

Python is a powerful and versatile programming language that is used in many fields. With a simple syntax, a large number of libraries and frameworks, a large developer community, and a wide range of uses, Python is a programming language you can't go around.

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Smart campaigns in Google Ads - to switch or not?

03/03/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Smart campaigns are a relatively new feature in Google Ads that make it easier for businesses of all sizes to run more effective ads. Smart campaigns are designed to help businesses make the most of their advertising budget by automatically combining different audience targeting methods and ad formats to achieve the best possible results. In this article, we'll take a closer look at what smart campaigns are and how they can help your business.

What are smart campaigns?

Smart campaigns are a type of Google Ads campaign where an algorithm automatically creates ads in different formats, such as text ads, display ads, and video ads, and then places them in different places on the web based on user behavior and interests. The goal is to give ads greater reach without requiring companies to manually optimize their campaigns.

How do smart campaigns work?

The concept of smart campaigns is based on machine learning and artificial intelligence (AI). Google uses the data it collects from users to determine the behavior and interests of people who are most likely to be interested in a company's products or services. Google then uses this information to automatically create ads in various formats and place them in relevant locations across the web.

To launch a smart campaign, companies must define their goals, target groups and budgets. Google then uses the available information to create a campaign that is right for the business. Once the campaign is running, Google automatically optimizes the ads by testing different ad formats and targeting methods to achieve the best performance.

What are the benefits of smart campaigns?

Smart campaigns offer businesses a variety of benefits. These include:

Time savings: smart campaigns allow businesses to automatically optimize their ads, saving time and resources.

Effectiveness: smart campaigns use AI and machine learning to create and place ads that are most likely to deliver the best possible results.

Reach: Smart campaigns can create and place ads in multiple formats and on multiple platforms, providing greater reach.

Simplicity: smart campaigns are easy to set up and manage, which is especially beneficial for small businesses.

Conclusion

Smart campaigns offer businesses an effective and time-saving way to run their ads on Google Ads. By leveraging machine learning and AI, businesses can automatically optimize and target their ads to the right audiences. This can lead to increased effectiveness, reach, and simplicity.

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What is unstructured data?

02/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Unstructured data is data that has no explicit structure and exists in its raw form. Unlike structured data, which is organized in well-defined tables and columns, unstructured data has no consistent structure or formatting. It can exist in a variety of formats, including text documents, images, videos, audio files, social media posts, emails, and web pages.

Unstructured data is often difficult to analyze because it does not have a clear structure or metadata that can be used to interpret the data. Extracting information from unstructured data often requires complex machine learning algorithms to identify patterns and relationships and extract relevant information.

Despite the difficulties of processing unstructured data, they can provide valuable insights into consumer behavior, market trends, social interactions, and other areas. Therefore, they play an important role in data analysis and processing, especially in the field of Big Data.

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