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All Blog Posts Tagged 'Statistical' (3)

Does "All models are wrong, but some are useful" quote apply to Machine learning models?

Models are simplification or approximation of reality and hence they will not capture all of reality. “All models are wrong, but some are useful” is a famous quote by George Edward Pelham Box (1919–2013). George Box was a British mathematician and professor of statistics at the University of Wisconsin. Statisticians develop theoretical models to predict the behaviour of certain process. The meaning of this quote is that every single model will be wrong and it never represents the exact…

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Added by Janardhanan PS on January 20, 2020 at 11:30pm — 1 Comment

Do you know what is bigger than Big Data?

From episode 10 of my Naked Analyst Channel on YouTube.

I think I do - and it is the ‘appification’ of analytics. What I mean by this is the reduction of a complex analytic activity such as market segmentation, down to a single button on your computer interface. Very much like the…

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Added by Steve Bennett on October 6, 2014 at 2:07pm — 4 Comments

(R + Python)

Both R & Python should be measured based on their effectiveness in advanced analytics & data science. Initially, as a new comer in data science field we spend good amount of time to understand the pros and cons of these two. I too carried out this study solely for “self” to decide which tool should i pick to get in depth of data science. Eventually, i have started realizing that both (R & Python) has its space of mastery along with their broad support to data science. Here some…

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Added by Manish Bhoge on February 7, 2014 at 9:22pm — 4 Comments

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