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All Blog Posts Tagged 'Statistics' (31)

Maslow's Hierarchy of Data Science: Why Math and Science Still Matter

As an academic discipline, the rate of maturation for data science should be measured in light years. Although it's really only about 10 years old as a field of study – with the first Ph.D. program in the country emerging just four years ago – most, major universities across the world have integrated data science into their portfolio of degree options. Universities…

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Added by Jennifer Lewis Priestley on February 12, 2019 at 10:52am — No Comments

Gambler's Ruin simulations

PREFACE



This article has 4 sections:

  1. Introduction: Introduction to the gambler's ruin problem
  2. Methodology: How the simulation will be carried out
  3. Pseudocode: Summary of the Python Code
  4. Theory: A summary of the theory



The full code and theory can be found here: …

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Added by Tansel Arif on February 5, 2019 at 4:55am — No Comments

Degrees of Freedom and Sudoku

This article is about Intuitive explanation of Degrees of Freedom and How Degrees of Freedom affects Sudoku.

A lot of aspiring Data Scientists take courses on statistics and get befuddled with the concept of Degrees of Freedom. Some memorize it by rote as ‘n-1'.

But there is a intuitive reason why it is ‘n-1’.…

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Added by Venkat Raman on January 30, 2019 at 1:51am — 3 Comments

Stocks, Significance Testing & p-Hacking: How volatile is volatile?

October is historically the most volatile month for stocks, but is this a persistent signal or just noise in the data?

Stocks, Significance Testing & p-Hacking. Follow me on Twitter (twitter.com/pdquant) for more. Over the past 32 years, October has been the most volatile month on average for the S&P500 and December the least, in this article we will use simulation to assess the…

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Added by Patrick David on January 18, 2019 at 5:30am — No Comments

Marketing Analytics through Markov Chain

Imagine you are a company selling a fast-moving consumer good in the market.

Let’s assume that the customer would follow the given journey to make the final purchase:               These are the states at which the customer would be at any point in the purchase journey.

Now, how to find out in which state the customers would be after 6…

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Added by Ridhima Kumar on January 8, 2019 at 12:00am — 4 Comments

An Application of Data Science and Mathematics in Finance

Imagine that one day, you see people are queuing up in front of Bank A; so you ask the staff at the counter, you are told that they are offering anyone (regardless of their credit history) a loan of $100,000 at a fixed annual rate at 2%. You then look around, the Bank B next door offers 1-year term deposit with a fixed annual rate at 3% for the same amount ($100,000). After 5 minutes' waiting, you sign for the loan from Bank…

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Added by Zhongmin Luo on November 21, 2018 at 2:30pm — 2 Comments

R Squared Value Demystified

As we all know in today’s world of quick results and insights nobody wants to spend time in understanding the core concepts of certain statistical terms while performing analytical routine. One statistical term that is talked a lot but known very less in terms of its mechanics is R Squared statistics a.k.a. coefficient of determination. This statistics helps to measure the closeness of the data to the fitted line of regression.

It is also worth mentioning that by squaring the…

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Added by Sunil Kappal on July 11, 2018 at 3:35am — No Comments

Blockchain and Bigdata

Statistical Analysis is a way of collecting, presenting and exploring large amounts of data in order to discover underlying patterns and trends. It can be especially useful in banking, manufacturing or retail where knowing the future patterns might greatly benefit the businesses. Not without reason, it resembles and can cooperate with blockchain - a new tech…

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Added by James Mason on April 18, 2018 at 2:30pm — No Comments

So, How Many ML Models You Have NOT Built?

What a weird question. That’s what you would have thought after reading the headline. Perhaps you thought the word “NOT” was accidental.

Hmm, for past few years many of us have come across articles like

  • “Top 10 Machine Learning Algorithms every Data Scientist …
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Added by Venkat Raman on February 6, 2018 at 12:30am — 3 Comments

Want to become a Data Scientist? Try Feynman Technique

Many a blogs and articles are written on how to become a Data Scientist. The list normally goes like this

  • Study descriptive statistics, hypothesis testing, probability
  • Learn types of Machine learning algorithms – Supervised, Unsupervised
  • Learn Python, R, SAS, SQL
  • Apply machine learning techniques using Python, R, SAS
  • Learn Data Visualization

While there is nothing wrong in the path illustrated above, it is not the…

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Added by Venkat Raman on January 11, 2018 at 12:30am — 9 Comments

The “Big Think” on Statistical Inference

Remember the …

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Added by Peter Bruce on January 2, 2018 at 9:00am — 3 Comments

Are Scientists Doing Too Much Research?

It sounds almost absurd, but that could be one factor behind the so-called “reproducibility crisis”

It sounds almost heretical to ask the question: Is there too much scientific research?…

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Added by Peter Bruce on November 27, 2017 at 3:00pm — No Comments

Artificial Intelligence is not “Fake” Intelligence

Quick quiz!

What’s the first thing that comes to mind when you hear the following phrases?

  • Artificial grass
  • Artificial sweeteners
  • Artificial flavors
  • Artificial plants
  • Artificial flowers
  • Artificial diamonds and jewelry
  • Artificial (fake) news

These phrases probably evoke thoughts such as “fake,” “not real,” or even “shabby.” Artificial is such a harsh adjective.…

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Added by Bill Schmarzo on October 30, 2017 at 6:30pm — No Comments

How to think like a Data Scientist

A data scientist needs to be Critical and always on a lookout for something that misses others. So here is some advice that one can include in the day to day data science work to be better at their work:

1. Beware of the Clean Data Syndrome

You need to ask yourself questions even before you start working on the data. **Does this data make sense?** Falsely assuming that the data is clean could lead you towards wrong Hypotheses. Apart from that, you can discern a…

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Added by Rahul Agarwal on March 29, 2017 at 10:00am — 3 Comments

Importance of Hypothesis Testing in Quality Management

Essentially good hypotheses lead decision-makers like you to new and better ways to achieve your business goals. When you need to make decisions such as how much you should spend on advertising or what effect a price increase will have your customer base,…

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Added by Vinay Babu on January 27, 2017 at 6:00pm — 2 Comments

Data Devils Snapping At Your Heals

Ever wonder how you can create meaningful insights with your data? Tired of being asked what's your big data strategy, are you doing predictive analytics, or how you are making use of the latest technologies? There is a way for you to get what you need with Data Science. The key to new knowledge is to make sure you use Data Science in your organization.…

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Added by Damian Mingle on January 4, 2017 at 5:30am — No Comments

The Most Common Analytical and Statistical Mistakes

It is not only about understanding about statistics, it is also about implementing the correct statistical approach or method. In this brief article I will showcase some common statistical blunders that we generally make and how to avoid them.

To make this information simple and consumable I have divided these errors into two parts:

  1. Data Visualization Errors (Erroneous Graphs)
  2. Statistical Blunders Galore (pun intended)

 

Data…

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Added by Sunil Kappal on January 3, 2017 at 7:00am — 4 Comments

A Statistical Approach to Pick the Most Impactful Advertising Channel for Product Marketing

In the wake of ZMOT (Zero Moment of Truth) it becomes pivotal for any product company to choose the most appropriate advertisement channel for the promotion of their products. This not only helps the organizations to maximize their chances of creating the best first impression but will also help them to be discovered by today’s tech savvy consumers.

Today we will talk about a very…

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Added by Sunil Kappal on December 30, 2016 at 8:30am — No Comments

An Intro to Predictive Analytics: Can I predict the future?

At Grakn Labs we love technology. Here is our December 15th edition by Filipe Pinto Teixeira, where he looked back at Predictive Analytics.

*****…

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Added by Raphaelle Rf on December 23, 2016 at 6:00am — 2 Comments

What exactly is Data Science?

Reading some recent blogs, I sense a level of angst among Data Science practitioners about the nature of their field. What exactly IS Data Science - a question that seems to lurk just below the surface . . .

As a young field of study and work, it will naturally take time for a definition of Data Science to crystallize. In the meantime, see if this works for you . . .…

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Added by PG Madhavan on July 26, 2016 at 3:00pm — 2 Comments

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