ROI
ROI stands for Return on Investment. It is a performance measure used to evaluate the efficiency or profitability of an investment. In Data Science, ROI is used to measure the success of a project or initiative. It is calculated by dividing the net profit by the cost of the investment. The net profit is the difference between the revenue generated and the cost of the investment. A high ROI indicates that the investment is profitable, while a low ROI indicates that the investment is not profitable. ROI is an important metric in Data Science as it helps organizations to make informed decisions about their investments in data-related projects.
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