Lift and Gain Charts are a useful way of visualizing how good a predictive model is. In SPSS, a typical gain chart appears as follows:
In today's post, we will attempt to understand the logic behind generating a gain chart and then discuss how gain and lift charts are interpreted.
To do this,…
Data scientists are the new astronauts. Everyone wants to become one. And it is not difficult to understand the reason for this.
In this age of “Big data”, more and more businesses are relying on people who can make sense of the vast amounts of information generated around us – people who can use sophisticated tools and complex-sounding statistical techniques to derive insights from larger and larger mounds of data.
Businesses have started to understand the power of data. They…Continue
Added by Gaurav Vohra on September 10, 2012 at 11:29pm — No Comments
This is about how to boost your analytic career and/or revenue by leveraging our professional network to the fullest extent.
We invite you to post blogs, or participate in forums (including answering questions asked by peers) on DataScienceCentral and…Continue
This Saturday, I've noticed that Facebook now displays a few new boxes on everyone's profile page (not just me). The box that worries me most is the one that shows all the places where you've traveled and where you've lived, including your current location.
To compound the problem, the box in question clearly…Continue
These are the articles that I enjoyed reading this week:
Added by Vincent Granville on September 8, 2012 at 8:30pm — No Comments
Copyright © SAS Institute Inc., Cary, NC, USA. All Rights Reserved. Used with permission.
Optimization answers the question: How do we do things better? What is the…Continue
Companies are looking increasingly to take advantage of Big Data, especially textual information, those generated via user tools by web or desktop applications. The analysts specialized in this subject believe that 70% of information of interest to business are nestled in word documents, excel, email, etc. These data are not predefined in a model and cannot be perfectly stored in relational tables. They occur most often in the very free form, but contain dates, numbers, key words,…Continue
Added by Michel Bruley on September 2, 2012 at 10:57pm — No Comments
Do you agree with this? I don't, I think this Forbes article is using a provocative title to get you to read it. While assembler programmers in the seventies were eventually replaced by compilers and programming language interpreters, I believe that real statisticians and data scientists can't fully be replaced by machines or software. When they are,…Continue
Companies, products, and technologies included in the Big Data Landscape:
Added by Michael Walker on August 30, 2012 at 2:58pm — No Comments
I'm very pleased to announce the formation of Data Community DC, Inc., a new organization dedicated to the support of the Data Science, Statistics, Analytics and related communities in the Washington, DC area! Formed by the organizers of the rapidly-growing Data Science DC and R Users DC Meetups, and the nascent Data Business DC Meetup, DC2 will support those groups and help to create new Meetup groups and other events and services.
If you live or work in the DC Metro area, we'd love…Continue
Added by Harlan Harris on August 28, 2012 at 2:20pm — No Comments
WASHINGTON—Mitt Romney's success in raising hundreds of millions of dollars in the costliest presidential race ever can be traced in part to a secretive data-mining project that sifts through Americans' personal information—including their purchasing history and church attendance—to identify new and likely, wealthy donors, the Associated Press has learned.…Continue
Added by Vincent Granville on August 24, 2012 at 7:30am — No Comments
The Hadoop stack includes more than a dozen components, or subprojects, that are complex to deploy and manage. Installation, configuration and production deployment at scale is challenging.
The main components…Continue
Added by Michael Walker on August 22, 2012 at 9:40am — No Comments
Weekly digest from Data Science Central, Analytic Talent and Analytic Bridge:Continue
Added by Vincent Granville on August 20, 2012 at 1:54pm — No Comments
Added by Vincent Granville on August 17, 2012 at 8:59am — No Comments
Posted on behalf of Michael Walker.
Hadoop (MapReduce where code is turned into map and reduce jobs, and Hadoop runs the jobs) is great at crunching data yet inefficient for analyzing data because…
Added by Vincent Granville on August 16, 2012 at 6:34am — No Comments
Today Analytics is the heart of a Business. Companies are challenged with a high volume and broad array of data which requires active and effective analysis. Analysis can help them make enhanced and improved business decisions, and hence help the business to maintain profitability. "Companies need to compete on the basis of key business processes, and how they optimize these processes with analytics," says Thomas Davenport, professor and director of research, Babson College, USA. Business…Continue
Added by AcademyForDecisionScience&Analyt on August 16, 2012 at 1:40am — No Comments
As big data use cases proliferate in telecom, health care, government, Web 2.0, retail etc there is a need to create a library of big data workload patterns. . We have created a big data workload design pattern to help map out common solution constructs. There are 11 distinct workloads showcased which have common patterns across many business use cases.
Added by derick.jose on August 13, 2012 at 10:51pm — No Comments
Interested in using your skills for a good cause, a great challenge and a $25,000 prize? How about predicting the future of ALS patients?
Added by Neta Zach on August 13, 2012 at 2:52pm — No Comments
Recently Yelp was hit with a class action lawsuit for defamatory and fake bad restaurant reviews. Although the lawsuit was dismissed, the plaintiffs claimed that Yelp would post bad reviews of businesses not purchasing $500/month advertising on Yelp. Much of the discussion was…Continue