Part 4/13:
Societal Level: Addressing inequalities, gender pay gaps, and financial disparities.
Humankind and Space Exploration: Going beyond Earth to space missions, reflecting on technological advancements and evolution.
The speaker emphasizes that although the "payoffs" differ—survival for individuals, evolution for humanity—the need to identify and address problems remains universal. Today, the primary focus will be on business problems.
Business Objectives Drive Data Problems
Businesses operate with diverse objectives, many of which are interrelated with analytical problems:
- Profitability: For example, determining appropriate insurance premiums involves estimating continuous variables.