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Get an overview of data science, learn how to build your data science team, and understand the common steps in the data science workflow.

Data Science for Business Leaders

https://www.datacamp.com/community/podcast/data-science-at-td-ameritrade

<p>Sean Law, a Senior Applied Researcher and Data Scientist at TD Ameritrade, talks about data science research and development at TD Ameritrade and much more!&nbsp;</p>

Sean Law talks about data science research and development at TD Ameritrade.

Data Science R&D at TD Ameritrade

https://www.datacamp.com/community/blog/data-science-at-td-ameritrade

https://www.datacamp.com/community/podcast/data-science-at-att-labs

<p>Noemi Derzsy, a Senior Inventive Scientist at AT&amp;T Labs Research within the Data Science and AI Research organization, discusses her work there and much more!</p>

Noemi Derzsy, a Senior Inventive Scientist at AT&T Labs Research, discusses her work there and much more!

Data Science at AT&T Labs Research

https://www.datacamp.com/community/blog/data-science-at-att-labs

https://www.datacamp.com/community/news/data-science-at-atandt-labs-research-with-noemi-derzsy-w1vwosxhaq

Noemi Derzsy, a Senior Inventive Scientist at AT&T Labs Research within the Data Science and AI Research organization, discusses her work there and much more!

Data Science at AT&T Labs Research (with Noemi Derzsy)

https://www.datacamp.com/community/news/how-to-manage-title-confusion-in-data-science-1czj5ebpd29

As anyone who has tried to discern the “true definition” of a data scientist knows, titles can vary. How can you manage role expectations while job searching and know what you're getting into?

How to Manage Title Confusion in Data Science

https://www.datacamp.com/community/news/data-science-at-datacamp-ppx7ezzh2a

Two months after starting as Chief Data Scientist at DataCamp, I share some thoughts on the role and the team's future.

Data science at DataCamp

https://www.datacamp.com/community/news/web-scraping-in-r-rvest-tutorial-43z6wf5u86

A short case study that shows how to webscrape using rvest. Trustpilot reviews for individual organisations are scraped and exploratively analysed for fraudulent activity.

Web Scraping in R: rvest Tutorial

<p><center><a href="https://www.datacamp.com/groups/business"><img src="https://res.cloudinary.com/dyd911kmh/image/upload/f_auto,q_auto:best/v1603718763/banner_style_1_cruuf7.png" /></a><br></p>
<p>Data engineering continues to be a top priority for enterprises, and in 2021, there will be exciting developments in the data infrastructure space. In a <a href="https://www.datacamp.com/resources/webinars/operationalizing-data-within-large-organizations">recent webinar</a>, Maksim Percherskiy, Data Engineer at The World Bank and former Chief Data Officer of the City of San Diego, highlighted three trends to watch out for in particular: data orchestration platforms, data discovery engines, and data lakehouses.</p>
<h2 id="data-orchestration-platforms">Data orchestration platforms</h2>
<p>Although orchestration platforms have been around for many years to manage computer systems and software, <a href="https://dzone.com/articles/data-orchestration-its-open-source-but-what-is-it">data orchestration</a> is a relatively new concept that abstracts data access across storage systems, virtualizes data, and presents data to data-driven applications. Data orchestration platforms help companies become more data-driven by combining siloed data from multiple data storage locations and making them usable. Examples include <a href="https://airflow.apache.org/">Apache Airflow</a>, <a href="https://www.prefect.io/">Prefect</a>, <a href="https://luigi.readthedocs.io/en/stable/">Luigi</a>, and <a href="https://www.stitchdata.com/">Stitch</a>, which are compatible with modern software approaches like version control, DevOps, and continuous integration.</p>
<p>DataCamp’s course <a href="https://www.datacamp.com/courses/introduction-to-airflow-in-python">Introduction to Airflow in Python</a> is a great place to start to learn how to implement and schedule ETL and data engineering workflows in an easy and repeatable way.</p>
<h2 id="data-discovery-engines">Data discovery engines</h2>
<p>It makes sense that as data increases, companies will invest more time in enabling their teams to find the data they need, document it, and reduce rework. Data discovery engines like <a href="https://eng.lyft.com/amundsen-lyfts-data-discovery-metadata-engine-62d27254fbb9?gi=a4af847eb7fe">Lyft’s Amundsen</a> and <a href="https://eng.uber.com/databook/">Uber’s Databook</a> aim to improve the productivity of data users by providing a search interface for data. These tools rely on metadata, which support productivity and compliance by allowing data infrastructure to scale as companies grow. The goal of data discovery is to make data more FAIR: findable, accessible, interoperable, and reusable.</p>
<p><center><a href="https://www.datacamp.com/groups/business"><img src="https://res.cloudinary.com/dyd911kmh/image/upload/f_auto,q_auto:best/v1610377093/datadiscoveryengines_pi2uj7.png" /></a><br></p>
<h2 id="data-lakehouse">Data lakehouse</h2>
<p>There are different use cases for <a href="https://www.datacamp.com/community/blog/data-lakes-vs-data-warehouses">data lakes versus data warehouses</a>. Each is designed for different purposes and for different end users. For example, data warehouses are typically used by analysts for the purpose of collecting business intelligence—they contain flat files that have been explicitly processed for their work. On the other hand, data lakes are set up and maintained by data engineers who integrate them into data pipelines. Data scientists work more closely with data lakes as they contain data of a wider and more current scope.</p>
<p>Data lakehouses are exactly what they sound like: a combination of data lakes and data warehouses. Companies like <a href="https://delta.io/">Delta Lake</a> and <a href="https://www.snowflake.com/guides/what-data-lakehouse">Snowflake</a> have created solutions to provide a single source of truth for data that combines the benefits of data lakes and data warehouses. Data lakehouses implement data warehouses’ data structures and management features for data lakes, which are typically more cost-effective for data storage. At the same time, they retain the schema and versioning of the data. With data lakehouses, data scientists will be able to conduct both machine learning and business intelligence.</p>
<p><center><a href="https://databricks.com/blog/2020/01/30/what-is-a-data-lakehouse.html"><img src="https://res.cloudinary.com/dyd911kmh/image/upload/f_auto,q_auto:best/v1610377091/datalakehouse_dv35im.png" /></a></p>
<h5 id="source-databricks-https-databricks-com-blog-2020-01-30-what-is-a-data-lakehouse-html-">Source: <a href="https://databricks.com/blog/2020/01/30/what-is-a-data-lakehouse.html">Databricks</a></h5>
<p>All three of these trends will be crucial for enterprises to scale data infrastructure in 2021. They’re useful for companies that were built around data as well as for those that are struggling to sustainably integrate data in their workflows. <a href="https://www.datacamp.com/community/blog/data-driven-enterprise">Find out more</a> about the challenges large companies face to operationalize their data and become data-driven.</p>
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https://www.datacamp.com/community/blog/data-infrastructure-trends

Get your data engineering function ahead of the curve with orchestration platforms, data discovery engines, and data lakehouses.

Top 3 Trends in Data Infrastructure for 2021 | DataCamp

Top 3 Trends in Data Infrastructure for 2021

<center><a href="https://www.datacamp.com/tracks/tableau-fundamentals"><img src="https://res.cloudinary.com/dyd911kmh/image/upload/f_auto,q_auto:best/v1610375720/TableauCTA_v2qbt7.png" /></a></center><br>

<p>Tableau is a business intelligence (BI) platform that functions like a supercharged Microsoft Excel. Its user-friendly, drag-and-drop functionality makes it possible for anyone who interacts with data to analyze and create presentation-ready visualizations—from data newbies to analysts, and even business leaders. You definitely don’t need to be a seasoned data scientist to use Tableau!</p>

<h2>Which companies use Tableau?</h2>
<p>Tableau’s roster of customers is a who’s who of the business world, including well-known brands such as Amazon, Experian, and Unilever. But it’s not just global giants using Tableau to democratize their data—over <a href="https://techcrunch.com/2019/06/10/salesforce-is-buying-data-visualization-company-tableau-for-15-7b-in-all-stock-deal/">86,000 businesses</a> are using Tableau to extract and share insights from their data.</p>

<h2>Certification overview</h2>

<center><CALLOUT BOX>
<a href="https://www.tableau.com/learn/certification/desktop-specialist">Tableau Desktop Specialist</a><br>
Fee: $100<br>
Title valid for: No expiration<br>
</CALLOUT BOX></center><br>


<p>Tableau recommends that you have at least three months’ product experience before taking the Desktop Specialist exam. If you don’t yet have this experience, DataCamp recommends that you prepare for the exam by completing our online <a href="https://www.datacamp.com/tracks/tableau-fundamentals">Tableau Fundamentals</a> skill track.</p>

<p>The exam will take place on GoToMeeting or Zoom, and you will be asked to set up your workspace using Google Chrome and confirm that your connection speed meets Tableau’s requirements. Additionally, you will be required to:</p>

<ul>
<li>Present photo identification to the exam proctor via webcam</li>
<li>Close programs, tabs, and remove any paperwork that may help during your exam</li>
<li>Demonstrate to the proctor that you are alone in your room via webcam</li>
<li>Agree to being monitored via webcam for the duration of the exam</li>
</ul>

<p><a href="https://mkt.tableau.com/files/Tableau-Certification-4-steps-to-exam-success.pdf">View the full exam setup requirements</a></p>

<p>Just like the Tableau learning experience <a href="https://www.datacamp.com/tracks/tableau-fundamentals">on DataCamp</a>, the exam is completed using a Windows virtual machine that has Tableau Desktop installed—this may involve a certain amount of toggling between the question and virtual desktop screens which may result in a slightly smaller screen size than you may be used to. It’s also worth noting that you may not have any other windows or programs open for the duration of the test other than those required for the assessment—just like exams in school, you can’t have any notes hidden in your calculator sleeve. The exam is scored automatically and a passing score of 70% or more is required to obtain your certification.</p>

<p>You can register and book your exam on the <a href="https://www.tableau.com/learn/certification/desktop-specialist">Tableau Product Certification Exam center</a>, managed by Loyalist Exam Services (LES). You can also reschedule your exam using this site.</p>

<h2>Training Resources</h2>
<p>At DataCamp, all our instructor-led courses are fully interactive, with no installation or prior experience required. You will also receive a statement of accomplishment which you can also share on your LinkedIn profile upon completion. Please note that DataCamp’s statement of accomplishment is not the same as the Tableau Desktop Specialist certification:</p>

<p><a href="https://www.datacamp.com/tracks/tableau-fundamentals">Tableau Fundamentals</a>: 14 hours. 4 Courses</p>
<p>Gain the essential skills you need to confidently use Tableau and prepare to pass the Tableau Desktop Specialist certification. No prior experience required.</p>

<ul>
<li><a href="https://www.datacamp.com/courses/introduction-to-tableau">Introduction to Tableau</a>: 4 hours<br>
Learn how to use Tableau’s user-friendly drag-and-drop functionality to quickly clean, analyze, and visualize your team’s data.</li>
<li><a href="https://datacamp.com/courses/analyzing-data-in-tableau">Analyzing data in Tableau</a>: 4 hours<br>
Create detail-rich map visualizations, configure date and time fields to show trends over time, and extend your data using Calculated Fields.</li>
<li><a href="https://datacamp.com/courses/creating-dashboards-in-tableau">Creating Dashboards in Tableau</a>: 4 hours<br>
Apply dashboard best practices, add interactive or explanatory elements, and use actions to make your dashboard fully interactive.</li>
<li><a href="https://www.datacamp.com/courses/connecting-data-in-tableau">Connecting Data in Tableau</a>: 4 hours<br>
Discover how  to connect Tableau to different data sources and prepare the data for a smooth analysis.</li>
</ul>

<p>Tableau also provides an excellent choice of learning resources you can use to prepare for the exam:</p>

<ul>
<li><a href="https://www.tableau.com/learn/training/20204">Tableau Training Videos</a></li>
<li><a href="https://mkt.tableau.com/files/DesktopSpecialist_ExamGuide.pdf">Desktop Specialist Exam Prep Guide (PDF)</a></li>
<li><a href="https://community.tableau.com/s/explore-forums?_ga=2.195627941.886887347.1610106578-1596736181.1607685378">Tableau community forums</a> and <a href="https://community.tableau.com/s/groups?_ga=2.195627941.886887347.1610106578-1596736181.1607685378">user groups</a></li>
</ul>

<p>Found this article useful? If so please share on <a href="https://www.linkedin.com/company/datacampinc/">LinkedIn</a>, <a href="https://twitter.com/DataCamp">Twitter</a>, or <a href="https://www.facebook.com/datacampinc/">Facebook</a>.</p>

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https://www.datacamp.com/community/blog/Tableau-desktop-specialist-certification

Add Tableau to your data analyst skill set. Learn to use this BI platform and pass the Desktop Specialist Certification exam with DataCamp.

Pass Tableau’s Desktop Specialist Certification | DataCamp

Tableau Desktop Specialist Certification: Learn How to Use Tableau and Ace the Exam

<p>The term inventory means the amount of materials or resources in hand, which includes raw material, work in process, finished goods, stores, and spares. Inventory management (IM) is the procedure  in which inventory is measured and planned  according to prearranged rules such as economic lot size for order or production, safety stock, minimum, maximum, and order level. IM pertains primarily to the administration of established policies, systems, and procedures in order to reduce the cost of inventory.</p>
<p>In this tutorial, you are going to learn the EOQ Model, and the following topics will be covered:</p>
<ul>
<li>Inventory Management (IM)</li>
<li>Economic Order Quantity (EOQ) Model</li>
<li>Basic Terminology of EOQ  </li>
<li>How does the EOQ Model work?</li>
<li>Examples of the EOQ Model</li>
<li>Pros and cons of EOQ Model</li>
<li>Conclusion</li>
</ul>
<h2 id="inventory-management-im-">Inventory Management (IM)</h2>
<p>IM is to the process of ordering, storing, and using a company&#39;s/firm&#39;s inventory. These include the management of raw materials, components, and finished products as well as warehousing and processing such items. IM uses a variety of data to keep a record of the goods as it moves through the process, including lot numbers, serial numbers, cost of goods, quantity of goods and the dates when they move through the process. IM helps in minimizing cost, optimize fulfillment, provide better customer service, and avoid loss from theft, damage, and return. The figure below shows an example of an inventory management system.</p>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/1_inventory.png" /></p>
<h2 id="economic-order-quantity-eoq-model">Economic Order Quantity (EOQ) Model</h2>
<p>F. Harries first developed the EOQ concept in the year 1916. EQE is the amount of inventory to be ordered at one time towards minimizing annual inventory cost. It is one of the methods of IM, which minimizes the total holding ordering cost for the year. EOQ is the method which solves the problem of the material manager. The figure shows the EOQ model cost curve.</p>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/2_inventory.png" /></p>
<p>The basic EOQ model gives the equation to estimate EOQ. Following formula used to estimate EOQ:</p>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705120/3_inventory.png" /></p>
<p>Where, A = <em>Annual consumption or demand</em>, B = <em>Cost to placing a single order</em> and C = <em>Cost to hold one unit inventory for a year</em>.</p>
<p>The EOQ is a company&#39;s/firm&#39;s optimal order quantity that reduces its total costs related to ordering, receiving, and holding the inventory. For many firms, inventory is the main benefit owned by the firm, and these productions must carry sufficient stock to meet the needs of consumers. This model is best suited in situations where demand, ordering, and holding costs remain constant over the period of time.</p>
<h2 id="basic-terminology-of-eoq">Basic Terminology of EOQ</h2>
<p>The inventory system may be classified depending on the nature of the variables. The variables are various costs, such as shortage cost, carrying cost, ordering cost, demand, lead time, reorder  cycle time, input rate, and shortages.  Demand may be known and constant (static), or known and variable (dynamic), or it may be estimated in an inventory system.</p>
<ul>
<li><strong>Shortage Cost:</strong> Shortage cost is the cost of having a shortage and unable to meet demand from stock. Shortages of inventory levels may result in the cancelation of orders which lead heavy losses in the sale that results in losses in goodwill, profit even the business itself.</li>
<li><strong>Holding Cost:</strong> Holding costs are cost related to storing inventory that remains unsold.  Holding costs are one element of total inventory costs, along with ordering and shortage costs. A company&#39;s holding costs include the price of goods damaged or ruined, as well as that of storage space, labor, insurance, investment, and pilferage, etc.</li>
<li><strong>Annual Demand:</strong> Annual demand is the amount that is needed during a year for the inventory item.</li>
<li><strong>Single Order Cost:</strong> Total cost experienced to place a single order.</li>
<li><strong>Lead Time:</strong> It is the delay pertinent for inventory management purposes. This delay is the summation of supply delay and the reordering delay.</li>
</ul>
<h2 id="how-does-the-eoq-model-work-">How does the EOQ Model work?</h2>
<p>IM  is very important for a business to run smoothly and efficiently.  Example, a sugar manufacturing company, if it keeps running out of sugarcane. Sugarcane is the primary raw material which keep the sugar manufacturing company process running. The sugar company maker needs to plan the quantities of sugarcane so they never run out and are able to produce sugar whenever they need too. But IM is not just about bulking up with supplies. If too much sugarcane is stocked and there is not as much demand for sugar, the sugarcane would go bad, which would cause financial losses to the business. IM encourages optimization of inventory. The IM makes sure that the sugar maker has almost the exact amount of sugarcane, which is just enough to make sugar, which matches with the demand of sugar consumers who order sugar from various sources. The figure shows four wide parameters for managing inventory effectively.</p>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/4_inventory.png" /></p>
<h2 id="simulation-with-spreadsheet">Simulation With Spreadsheet</h2>
<h3 id="assign-basic-parameters-and-create-quantity-column">Assign Basic Parameters and Create Quantity Column</h3>
<ul>
<li>First, you will create and assign the basic parameters such as Annual Demand (A), Ordering Cost (B), Cost to Hold Each Unit (C), and each unit cost. Now create a Quantity column start with 5 at an interval of 5. After the initial two values drag it down for 50 values.</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/5_inventory.png" /></p>
<h3 id="create-ordering-cost-column">Create Ordering Cost Column</h3>
<ul>
<li>After creating a Quantity column, create an Ordering Cost column using the following formula:</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/6_inventory.png" /></p>
<ul>
<li>In this formula, annual demand and each unit cost will be constant, and quantity will be variable. So make it constant by putting <code>$</code> as shown in the snapshot.  </li>
<li>After calculating one value, select the value and drag it down for the remaining values—this is how it will automatically generate Ordering Cost for each given quantity.</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/7_inventory.png" /></p>
<h3 id="create-holding-cost-column">Create Holding Cost Column</h3>
<ul>
<li>After creating Ordering Cost column, create a holding cost column by using the following formula:</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705120/8_inventory.png" /></p>
<ul>
<li>In this formula, each unit holding cost will be constant and the quantity will be variable. So make it constant again by putting $ as shown in the snapshot.</li>
<li>After calculating one value, select the value and drag it down for the remaining values—this how it will automatically generate Holding Cost for each given quantity.</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/9_inventory.png" /></p>
<h3 id="create-total-cost-column">Create Total Cost Column</h3>
<ul>
<li>After creating holding Cost column, create total cost column by adding ordering and holding cost.</li>
<li>After adding one value, select the value and drag it down for the remaining values—this how it will automatically generate Total Cost for each given quantity.</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/10_inventory.png" /></p>
<h3 id="create-line-chart">Create Line Chart</h3>
<ul>
<li>After creating the three columns, it is now time to create a line chart for all of the columns.</li>
<li>To create a line chart, go to <code>Insert</code> menu and select the line chart option from the drop-down list shown on the right-hand side of the screen. Your Line chart should look like the below snapshot.</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/11_inventory.png" /></p>
<h3 id="apply-conditional-formatting">Apply Conditional Formatting</h3>
<ul>
<li>After creating a chart for ordering, holding, and total cost. It is now time to find the minimum value of order quantity.</li>
<li>To find the minimum order quantity, you need to find the minimum total cost using <code>conditional formatting</code>.</li>
<li>First, go to format and click on <code>conditional formatting</code>. It will open a window on the right side of the screen.</li>
<li>In this window:</li>
</ul>
<p><center><img src="https://res.cloudinary.com/dchysltjf/image/upload/f_auto,q_auto:best/v1558705121/12_inventory.png" /></p>
<ul>
<li><p>In following <code>Bottom 10 Items...</code>, fill 1 in the cell and select the color. I have chosen the <code>Light Red with Dark Red Color</code>.</p>
</li>
<li><p>This is how you will get the <code>Bottom 1 Item</code> or one minimum value of total cost, which is <code>3535.714</code> and Economic order quantity is <code>70</code>.  </p>
</li>
</ul>
<h2 id="pros-and-cons-of-eoq-model">Pros and Cons of EOQ Model</h2>
<p>Small business owners want an efficient inventory system to maximize profit. The EOQ model is a frequently used element of a continuous review inventory system. It is based on a formula that estimates the best reasonable amount of items a business should order to minimize costs and maximize value when re-stocking inventory (<a href="https://smallbusiness.chron.com/advantages-disadvantages-economic-order-quantity-eoq-35025.html">The Advantages &amp; Disadvantages of Economic Order Quantity (EOQ)</a>). The main advantage of this model is the customized recommendations provided regarding the most economical number of units per order.</p>
<p>Efficient EOQ models need complete data to estimate several figures. The cons of the EOQ model as below:</p>
<ul>
<li>It requires complicated math calculations.</li>
<li>The model depends on the assumption of just one-product, and the equation does not permit for merging several different products in the single order.</li>
<li>EOQ model does not take into account purchase discounts that could be achieved by purchasing inventory in bulk.</li>
</ul>
<h2 id="conclusion">Conclusion</h2>
<p>Congratulations, you have made it to the end of this tutorial!</p>
<p>In this tutorial, you have covered a lot of details about Inventory Management. You have learned about Inventory Management, the EOQ model, the terminology used in the EOQ model, and the pros and cons of the EOQ model. IM has to do with keeping accurate records of goods that are ready for shipment. IM is very crucial for keeping costs down while meeting all the necessary requirements. Demand and supply is a delicate balance and IM helps with these two to ensure the balance is uninterrupted.</p>
<p>Hopefully, you can now utilize the EOQ concept to analyze your own datasets. Thanks for reading this tutorial!</p>
<p>If you would like to learn more about spreadsheets, take DataCamp&#39;s <a href="https://www.datacamp.com/courses/conditional-formatting-in-spreadsheets">Conditional Formatting in Spreadsheets</a> course.</p>


https://www.datacamp.com/community/tutorials/inventory-model-simulation-with-spreadsheets

Learn how to use spreadsheets to calculate an inventory demand model that helps determine how much inventory a business should hold moving forward.

Inventory Model Simulation with Spreadsheets

https://www.datacamp.com/community/tutorials/making-web-crawlers-scrapy-python

Develop web crawlers with Scrapy, a powerful framework for extracting, processing, and storing web data.

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