A Data Science Project- Part 1(b)

In the previous article (https://d4datascience.wordpress.com/2016/11/10/a-data-science-project-part-1/), we have done basic data analysis like calculating means, frequency tables, summary etc. Now we will derive new variables. Why?
Derived variables will help to understand more about them. For example, We have derived variable ip(derived from incomeperperson variable) which will help us to understand how many people fall in lower income class or higher income class. Similarly other variables le, ac transformed into new variables.
How do we decide these value of cutoff points?
This is answered by the business people or you have to explore the data to divide them into different buckets.

If you have any query, let me know in comment section.

Author: Ved

I am working as Data Scientist to assist organizations to take better decisions by providing actionable insights by applying data science,maths and business knowledge to the Data.

One thought on “A Data Science Project- Part 1(b)”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: