{"id":1963,"date":"2019-09-20T03:07:19","date_gmt":"2019-09-20T03:07:19","guid":{"rendered":"http:\/\/kusuaks7\/?p=1568"},"modified":"2024-04-03T10:54:14","modified_gmt":"2024-04-03T10:54:14","slug":"business-basics-for-data-scientists","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/bigdata-cloud\/business-basics-for-data-scientists\/","title":{"rendered":"Business Basics for Data Scientists"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1963\" class=\"elementor elementor-1963\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-5b50cc02 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b50cc02\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6588108d\" data-id=\"6588108d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6127752 elementor-widget elementor-widget-heading\" data-id=\"6127752\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><h3 style=\"color: #aaa;font-style: italic\"><strong>Use your Machine Learning Superpower to impact the Fundamental Business Equation.<\/strong><\/h3><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db08bfd elementor-widget elementor-widget-text-editor\" data-id=\"db08bfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"e5ab\" data-selectable-paragraph=\"\">The nascent Data Scientist focuses on mastering TensorFlow &amp; statistical concepts. This is undoubtedly important. Yet too many forget about the third layer of becoming a quality Data Scientist. Put the finishing touches on your Data Science skill set by understanding the business perspective.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34dca97 elementor-widget elementor-widget-image\" data-id=\"34dca97\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/5184\/1*ag4zkMJAJN0bvCR3z0uMYQ.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca9c626 elementor-widget elementor-widget-text-editor\" data-id=\"ca9c626\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/ZGjbiukp_-A?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\">Samson Creative.<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/search\/photos\/business?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Unsplash<\/a><\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f7055e elementor-widget elementor-widget-text-editor\" data-id=\"3f7055e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"0461\" data-selectable-paragraph=\"\">This post explores the Fundamental Business Equation that each Data Scientist should understand. The content aims at educating technical Data Scientists who wish to have a tangible impact through their work. Find out which role Machine Learning can play in your company and how to find opportunities.<\/p>\n<p id=\"cc63\" data-selectable-paragraph=\"\">Let the digression begin.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-112c9bc elementor-widget elementor-widget-heading\" data-id=\"112c9bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"8ccd\" data-selectable-paragraph=\"\">The Fundamental Business Equation<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d73416 elementor-widget elementor-widget-text-editor\" data-id=\"9d73416\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"280a\" data-selectable-paragraph=\"\">The goal of a business is to make money. As\u00a0<a href=\"https:\/\/towardsdatascience.com\/the-third-wave-data-scientist-1421df7433c9\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Dominik Haitz<\/a>\u00a0excellently states, Data Scientists are hired to help the company achieve this goal. How do you define \u201cmaking money\u201d?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d80538 elementor-widget elementor-widget-text-editor\" data-id=\"4d80538\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"24d6\" data-selectable-paragraph=\"\">In Data Science, accuracy is defined by the number of correctly classified examples out of the total number of examples. Similarly, profit is defined by the two variables revenue and costs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1067886 elementor-widget elementor-widget-image\" data-id=\"1067886\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/3922\/1*HZbpWaokmwULJqpuXaFiSA@2x.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8edecca elementor-widget elementor-widget-text-editor\" data-id=\"8edecca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"1788\" data-selectable-paragraph=\"\">Profit is the difference between revenue and costs. We have an equation \u2014\u00a0<em>holla<\/em>! Let\u2019s explain each variable.<\/p>\n<p id=\"d387\" data-selectable-paragraph=\"\">Revenue is the total amount of money that your company makes. Think of your high school lemonade stand. Every dollar customers spend to buy your delicious refresher counts towards the revenue of your lemonade stand.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f59b75 elementor-widget elementor-widget-image\" data-id=\"4f59b75\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/6000\/1*7tIEUAlJgx8TD1E0mNDbpw.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34dcfd8 elementor-widget elementor-widget-text-editor\" data-id=\"34dcfd8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/JB5YCqOXV1o?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\">Rod Long<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/search\/photos\/lemonade-stand?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Unsplash<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bbead19 elementor-widget elementor-widget-text-editor\" data-id=\"bbead19\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"6261\" data-selectable-paragraph=\"\">Costs describe all the money your company spends. For the lemonade stand, that is the price of the lemons, the fee for renting the stand, and your fictional salary, among others.<\/p>\n<p id=\"e827\" data-selectable-paragraph=\"\">Profit is the difference between the money your company makes and the money it spends. For your lemonade stand, it\u2019s all the money that remains in your pocket after you pay back Mommy for the lemons.<\/p>\n<p id=\"a355\" data-selectable-paragraph=\"\">What does all this have to do with your job as a Data Scientist? Now that we know the key variables in the Fundamental Business Equation, let\u2019s talk about your role.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90898d8 elementor-widget elementor-widget-heading\" data-id=\"90898d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"93dc\" data-selectable-paragraph=\"\">Optimizing towards Profit<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71b8731 elementor-widget elementor-widget-text-editor\" data-id=\"71b8731\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"1491\" data-selectable-paragraph=\"\">So these guys in suits at the all-hands meeting keep on babbling about increasing profit, dangerous competitors, and new business models. \u00a0As they continue to bore the audience, your mind wanders back to the super simple yet Fundamental Business Equation. Then you have the idea \u2014\u00a0<em>Bazinga<\/em>! Just like in Machine Learning, you\u2019re presented with an optimization problem. Awesome! The key metric we\u2019re optimizing for is profit.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bda088b elementor-widget elementor-widget-image\" data-id=\"bda088b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/3899\/1*Px9rFAdi663klZo4Bz9UAA@2x.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c9271b elementor-widget elementor-widget-text-editor\" data-id=\"0c9271b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"2e8e\" data-selectable-paragraph=\"\">You reckon that to maximize profit, you can increase revenue, decrease costs, or both if you\u2019re a magician. Let\u2019s talk about how your work with Machine Learning can influence either variable.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6353e0b elementor-widget elementor-widget-heading\" data-id=\"6353e0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"e892\" data-selectable-paragraph=\"\">Superpower Machine Learning<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ccdd20 elementor-widget elementor-widget-text-editor\" data-id=\"6ccdd20\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"2004\" data-selectable-paragraph=\"\">As a Data Scientist, you\u2019re blessed with the superpower of Machine Learning. You feast on data and turn it into superhuman predictions to power mind-bending products. Let\u2019s explore how to use your power wisely, Luke.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b183237 elementor-widget elementor-widget-image\" data-id=\"b183237\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/2400\/1*kDvyUe6tJfUu36Q6p2KvTg.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce5551c elementor-widget elementor-widget-text-editor\" data-id=\"ce5551c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/1JS6n1uT-uI?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\">Lopez Robin<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/search\/photos\/power?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Unsplash<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-518dc04 elementor-widget elementor-widget-text-editor\" data-id=\"518dc04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"df00\" data-selectable-paragraph=\"\"><a href=\"https:\/\/www.deeplearning.ai\/how-to-develop-your-own-ai-playbook-andrew-ng-and-will-knight-at-mit-tech-reviews-2019-emtech-digital\/\" target=\"_blank\" rel=\"noopener noreferrer\">Andrew Ng<\/a>, Founder of Landing.ai and former Google and Baidu Brain Lead, states that Machine Learning generates value in three ways:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d0f4ba9 elementor-widget elementor-widget-text-editor\" data-id=\"d0f4ba9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li id=\"527a\" data-selectable-paragraph=\"\">Create new products<\/li>\n \t<li id=\"6f4f\" data-selectable-paragraph=\"\">Improve existing products<\/li>\n \t<li id=\"267d\" data-selectable-paragraph=\"\"><mark>Automate processes<\/mark><\/li>\n<\/ul>\n<p id=\"99ee\" data-selectable-paragraph=\"\">Let\u2019s go through examples for each category.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-87b5d80 elementor-widget elementor-widget-heading\" data-id=\"87b5d80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"0d96\" data-selectable-paragraph=\"\">Create New Products<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-520ef00 elementor-widget elementor-widget-text-editor\" data-id=\"520ef00\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"ef21\" data-selectable-paragraph=\"\">Machine Learning helps your company create entirely new products to increase revenue. An example is new mobility services powered by self-driving cars, also called\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Robo-Taxi\" target=\"_blank\" rel=\"noopener noreferrer\">Robo-Taxi<\/a>. Without Machine Learning, this new product is hard to create. In this case, Machine Learning allows the company to develop an entirely new product to increase revenue.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d143740 elementor-widget elementor-widget-image\" data-id=\"d143740\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1200\/1*x3g8d-DGpoZVSTu7n06hWQ.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5218a0c elementor-widget elementor-widget-text-editor\" data-id=\"5218a0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"5248\" data-selectable-paragraph=\"\">The holy grail of Artificial Intelligence (\u201cAI\u201d)-powered products is a product that enters the Virtuous Circle of AI. It all starts with a product that is already good without AI but continually improves with more users and more data.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13a1bb4 elementor-widget elementor-widget-text-editor\" data-id=\"13a1bb4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"c845\" data-selectable-paragraph=\"\">Tesla is a good example. A Tesla car is fun to drive without AI but constantly improves as more users collect data. This makes the Tesla Autopilot ever more enjoyable.\u00a0<a href=\"https:\/\/podcasts.apple.com\/de\/podcast\/artificial-intelligence-lex-mit-ai\/id1434243584?l=en&amp;i=1000434777061\" target=\"_blank\" rel=\"noopener noreferrer\">Elon Musk<\/a>, Tesla\u2019s CEO, estimates that his company collects 99.5% of all data from vehicles globally. Ready, set, game for Tesla?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67fe414 elementor-widget elementor-widget-image\" data-id=\"67fe414\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/1024\/1*5V144_N8HlZ2X8jIRDYV4A.png\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-553e600 elementor-widget elementor-widget-text-editor\" data-id=\"553e600\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Source:\u00a0<a href=\"https:\/\/landing.ai\/ai-transformation-playbook\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">https:\/\/landing.ai\/ai-transformation-playbook\/<\/a><\/span><\/p>\n<p id=\"994f\" data-selectable-paragraph=\"\">When looking for potential new products, you can do four things:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dff5fb0 elementor-widget elementor-widget-text-editor\" data-id=\"dff5fb0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li id=\"fe40\" data-selectable-paragraph=\"\"><strong>Evaluate competitor product offerings.\u00a0<\/strong>Are they offering products that customers want and you could emulate through AI?<\/li>\n \t<li id=\"15e3\" data-selectable-paragraph=\"\"><strong>Look to other industries<\/strong>. Can you learn an interesting approach from this Chatbot AI company?<\/li>\n \t<li id=\"11ff\" data-selectable-paragraph=\"\"><strong>Brainstorm new ideas.\u00a0<\/strong>Can you come up with a cool idea during a hackathon?<\/li>\n \t<li id=\"1163\" data-selectable-paragraph=\"\"><strong>Check your data<\/strong>. Can you use this data to create a new AI product?<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b543eb elementor-widget elementor-widget-text-editor\" data-id=\"3b543eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"1e47\" data-selectable-paragraph=\"\">Machine Learning increases profit by creating new products, thus increasing revenue. You can also improve existing products with your superpowers.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c2ca5b elementor-widget elementor-widget-heading\" data-id=\"3c2ca5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"ce71\" data-selectable-paragraph=\"\">Improve existing products<\/h1>\n<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-82b2a50 elementor-widget elementor-widget-text-editor\" data-id=\"82b2a50\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"338a\" data-selectable-paragraph=\"\">Since your company exists, it has a product or service that it\u2019s selling.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-84aef4a elementor-widget elementor-widget-image\" data-id=\"84aef4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/961\/1*JKVxMXupOwiLoPL2j8GCdA.png\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f65cea elementor-widget elementor-widget-text-editor\" data-id=\"7f65cea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Popular item recommender from\u00a0<a href=\"https:\/\/www.immobilienscout24.de\/\" target=\"_blank\" rel=\"noopener noreferrer\">is24.de<\/a>\u00a0for new users<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51eb651 elementor-widget elementor-widget-text-editor\" data-id=\"51eb651\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"96f6\" data-selectable-paragraph=\"\">If you work in digital business, chances are that a recommender system exists. In the example above, you see a popular item recommender by Germany\u2019s leading real estate site. It recommends houses in Sweden to me \u2013 it\u2019s not relevant to me.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49a7ab4 elementor-widget elementor-widget-text-editor\" data-id=\"49a7ab4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"364c\" data-selectable-paragraph=\"\">Many companies still use popular item recommenders. These sweet and silly algorithms show which products have been most frequently bought from your company. With Machine Learning, you can build a nifty algorithm that offers customized\u00a0recommendations.<\/p>\n<p id=\"3ee8\" data-selectable-paragraph=\"\">Talk to Product Managers directly to find out how to improve existing products. You have the knowledge about Machine Learning, they know their product inside out. They know about its challenges and roadmap ahead. Together, you will come up with a great way to improve an existing product.<\/p>\n<p id=\"9f62\" data-selectable-paragraph=\"\">You\u2019ve seen how to increase revenue by creating new or improving existing products with Machine Learning. Yet Machine Learning can also drive down costs. Let\u2019s find out how next.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c5a266 elementor-widget elementor-widget-heading\" data-id=\"2c5a266\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"a0c1\" data-selectable-paragraph=\"\">Automate Processes<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4761384 elementor-widget elementor-widget-text-editor\" data-id=\"4761384\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"7818\" data-selectable-paragraph=\"\">Machine Learning reduces costs by automating processes. Every company has costs to create products. Machine Learning tasks like\u00a0<a href=\"https:\/\/towardsdatascience.com\/convolutional-neural-networks-for-all-part-i-cdd282ee7947\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">computer vision<\/a>\u00a0or\u00a0<a href=\"https:\/\/blog.insightdatascience.com\/how-to-solve-90-of-nlp-problems-a-step-by-step-guide-fda605278e4e\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">natural language understanding<\/a>\u00a0support processes perfectly. The larger the company grows, the higher the potential for repetitive tasks that can be automated. This is often referred to as Robotic Process Automation,\u00a0<a href=\"https:\/\/blog.bernd-ruecker.com\/how-to-benefit-from-robotic-process-automation-rpa-9edc04430afa\" target=\"_blank\" rel=\"noopener noreferrer\">RPA<\/a>.<\/p>\n<p data-selectable-paragraph=\"\">A good example of using RPA to decrease costs is automating visual inspection in manufacturing. Visual inspection is the process of inspecting produced goods with your eyes. Imagine a team of people checking if newly produced cars have any scratches on the exterior.\u00a0Audi\u00a0automated this process by using computer vision.\u00a0<a href=\"http:\/\/www.landing.ai\/\" target=\"_blank\" rel=\"noopener noreferrer\">Landing.ai<\/a>\u00a0is an entire company focusing on that task.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7428202 elementor-widget elementor-widget-image\" data-id=\"7428202\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/458\/1*YuerPJ-xgMHwC5DAE3QXUg.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c275101 elementor-widget elementor-widget-text-editor\" data-id=\"c275101\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\"><a href=\"https:\/\/www.globalwelding.com.au\/servicesndt\/visual-inspection\/\" target=\"_blank\" rel=\"noopener noreferrer\">Visual inspection<\/a>\u00a0of a manufactured good.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd72240 elementor-widget elementor-widget-text-editor\" data-id=\"cd72240\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"5976\" data-selectable-paragraph=\"\">To identify tasks for process automation, look for repetitive tasks which need limited cognitive capacity. Andrew Ng gives the rule of thumb that anything that takes a human less than a second to do, can probably be automated. This way you can decrease costs and impact the profitability of your company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de29350 elementor-widget elementor-widget-text-editor\" data-id=\"de29350\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"d971\" data-selectable-paragraph=\"\">This is a great example of decreasing costs through automating processes. Now that we know how to impact profit through Machine Learning, let\u2019s prioritize the search for your next project.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6153c6 elementor-widget elementor-widget-heading\" data-id=\"c6153c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"a723\" data-selectable-paragraph=\"\">Applying the Fundamental Business Equation<\/h1><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8015e73 elementor-widget elementor-widget-text-editor\" data-id=\"8015e73\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"fb34\" data-selectable-paragraph=\"\"><a href=\"https:\/\/deloitte.wsj.com\/cfo\/2013\/10\/08\/why-putting-revenue-before-cost-is-a-competitive-advantage\/\" target=\"_blank\" rel=\"noopener noreferrer\">Management Consultants<\/a>\u00a0focus on increasing revenue before decreasing costs. Decreasing costs can cause unintended consequences on the quality of existing products. This leads to lowered revenue again.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-321e981 elementor-widget elementor-widget-text-editor\" data-id=\"321e981\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<blockquote>\n<p id=\"2e66\" data-selectable-paragraph=\"\">Revenue before Costs. \u2014\u00a0<a href=\"https:\/\/hbr.org\/2013\/04\/three-rules-for-making-a-company-truly-great\" target=\"_blank\" rel=\"noopener noreferrer\">Harvard Business Review<\/a><\/p>\n<\/blockquote>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6dfb70d elementor-widget elementor-widget-image\" data-id=\"6dfb70d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/4032\/1*5SpR1EAjK1V7P_-V4xUt3w.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-929b56c elementor-widget elementor-widget-text-editor\" data-id=\"929b56c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\" data-selectable-paragraph=\"\"><span style=\"font-size: 11px;\">Photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/z4H9MYmWIMA?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Franki Chamaki<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/search\/photos\/machine-learning?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Unsplash<\/a><\/span><\/p>\n<p id=\"f165\" data-selectable-paragraph=\"\">Plus, it\u2019s more fun to come up with great new products. This idea holds for non-profit and governmental organizations as well. Thus, the general advice is to increase revenue before decreasing costs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-600da27 elementor-widget elementor-widget-heading\" data-id=\"600da27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h1 id=\"fbf5\" data-selectable-paragraph=\"\">Key Takeaways<\/h1><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ae4ce3 elementor-widget elementor-widget-text-editor\" data-id=\"8ae4ce3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"fa00\" data-selectable-paragraph=\"\">As a Data Scientist, you get paid to optimize your companies\u2019 performance towards profit. You know how you can impact profit by increasing revenue or decreasing costs. You\u2019ve gotten this far, now save the juice for work.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93594cf elementor-widget elementor-widget-image\" data-id=\"93594cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/miro.medium.com\/max\/7360\/1*82TpFAzfzUE5o50n7Lg2lA.jpeg\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0d0ac14 elementor-widget elementor-widget-text-editor\" data-id=\"0d0ac14\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 11px;\">Photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/i-IFVE1qXGQ?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\">Roman Kraft<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/search\/photos\/lemonade?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Unsplash<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd06390 elementor-widget elementor-widget-text-editor\" data-id=\"bd06390\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li id=\"2ca1\" data-selectable-paragraph=\"\">Optimize towards profit<\/li>\n \t<li id=\"7cd7\" data-selectable-paragraph=\"\">Profit = Revenue\u200a\u2014\u200aCosts<\/li>\n \t<li id=\"88eb\" data-selectable-paragraph=\"\">Revenue before costs<\/li>\n \t<li id=\"717f\" data-selectable-paragraph=\"\">Increase revenue by creating new products or improve existing ones<\/li>\n \t<li id=\"3ca0\" data-selectable-paragraph=\"\">Decrease costs by automating tasks<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-da84ced elementor-widget elementor-widget-text-editor\" data-id=\"da84ced\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p id=\"5b4c\" data-selectable-paragraph=\"\">Next, use the\u00a0<a href=\"https:\/\/towardsdatascience.com\/introducing-the-ai-project-canvas-e88e29eb7024\" target=\"_blank\" rel=\"noopener noreferrer\">AI Project Canvas<\/a>\u00a0to pitch your idea with an impact on profit to management.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Use your Machine Learning Superpower to impact the Fundamental Business Equation. The nascent Data Scientist focuses on mastering TensorFlow &amp; statistical concepts. This is undoubtedly important. Yet too many forget about the third layer of becoming a quality Data Scientist. Put the finishing touches on your Data Science skill set by understanding the business perspective.<\/p>\n","protected":false},"author":344,"featured_media":3998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[187],"tags":[94],"ppma_author":[2067],"class_list":["post-1963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bigdata-cloud","tag-data-science"],"authors":[{"term_id":2067,"user_id":344,"is_guest":0,"slug":"jan-zawadzki","display_name":"Jan Zawadzki","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"Zawadzki","first_name":"Jan","job_title":"","description":"Jan Zawadzki is Data Scientist at Volkswagon Grooup Services with 4 years of global experience in machine learning and management consulting."}],"_links":{"self":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/users\/344"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/comments?post=1963"}],"version-history":[{"count":6,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1963\/revisions"}],"predecessor-version":[{"id":36550,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1963\/revisions\/36550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media\/3998"}],"wp:attachment":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media?parent=1963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/categories?post=1963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/tags?post=1963"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=1963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}