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All Blog Posts Tagged 'Statistics' (32)

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

“Statistics for Non-Statisticians”, 2. ed. is now available from Springer! Ask for book review copy or instructor’s textbook copy on website!

This book was written for those who need to know how to collect, analyze and present data. It is meant to be a first course for practitioners, a book for private study or brush-up on statistics, and supplementary reading for general statistics classes. The book is untraditional, both with respect to the choice of topics and the presentation: Topics were determined by what is most useful for practical statistical work, and the presentation is as non-mathematical as possible. The book contains…

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Added by Birger S. Madsen on June 8, 2016 at 10:32pm — No Comments

Correlation Coefficient in Legal Data

 

This is a lesson  from one of our Data Science for Lawyers Workshops (Moderately Advanced). It is part of our Quantative Analysis in…

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Added by Mkhuseli Mthukwane on February 1, 2016 at 11:04am — No Comments

Big Data Analytics: From Ugly Duckling to Beautiful Swan

Recently, I came across with an interesting book on the statistics which has a narration of Ugly Duckling story and correlation of this story with today's DATA or rather BIG DATA ANALYTICS world. This story originally from famous storyteller Hans Christian Andersen

Story goes like this... 

The duckling was a big ugly grey bird, so ugly that even a dog would not bite him. The poor duckling…

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Added by Manish Bhoge on January 31, 2016 at 12:00pm — No Comments

3 Effortless Tactics to Be a Data Science Success in Business

"Move out of the way – I am ready to model.” That is the typical sentiment of a Data Science team when given a business…

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Added by Damian Mingle on October 28, 2015 at 7:01am — No Comments

Creating Value for Business: 2 Data Science Questions You Must Ask from the Start

Business goals are no doubt important, but in an analytic project it makes sense to balance the organization's goals with…

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Added by Damian Mingle on October 13, 2015 at 5:59pm — No Comments

5 Unbelievable Ways You Can Be a Better Data Scientist in Business

Most Data Scientists like to get their hands dirty with data just as quickly as possible, but it is important to…

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Added by Damian Mingle on October 6, 2015 at 3:27am — No Comments

Evaluating RF for Survival Analysis Using Prediction Error Curves

Ulla B. Mogensen, Hemant Ishwaran, Thomas A. Gerds (2012). Evaluating Random Forests for Survival Analysis Using Prediction Error Curves. Journal of Statistical Software, 50(11), 1-23.



Abstract Prediction error curves are increasingly used to assess and compare predictions in survival analysis. This article surveys the R package pec which provides a set of functions for efficient computation of prediction error…
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Added by Diego Marinho de Oliveira on April 10, 2015 at 12:21am — No Comments

Statistics is Dead - Long Live Statistics!

As data science evolves into a separate and distinct scientific and business discipline, there is talk about the death of traditional statistics. It is true that today's large data sets are unlike the ones we analyzed in graduate statistics classes. It is also true that big data…

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Added by Michael Walker on May 30, 2013 at 5:00pm — 1 Comment

The Curse of the Bell Curve Part 1

The ‘Bell curve’ or the ‘Gaussian bell curve’ is one of the fundamental concepts on which most of the statistical analysis is based. From social sciences to astronomy to financial services- most of the application of statistics in the real world relies on the assumption that the data being analysed is distributed in the shape of the bell curve.

What does…

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Added by Gaurav Vohra on January 3, 2013 at 8:30pm — No Comments

History of Analytics

Educating savvy and business-minded Indians on the importance of numbers and analytics in your business is like teaching the properties of sand to someone in the desert, but here is my effort anyway.

The simplest definition of analytics is "the science of analysis." However, a practical definition would be how an entity, e.g., a business, arrives at an optimal or realistic decision based on existing data. Business managers may choose to make decisions based on past experiences or…

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Added by AcademyForDecisionScience&Analyt on October 29, 2012 at 7:30pm — No Comments

The Fallacy of the Data Scientist Shortage

There is no question that the USA (in fact, most of the world) would be well-served with more quantitatively capable people to work in business and government. However, the current hysteria over the shortage of data scientists is overblown. To illustrate why, I am going to use an example from air travel.

On a recent trip from Santa Fe, NM to Phoenix, AZ, I tracked the various times:

 

Duration…

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Added by Neil Raden on June 27, 2012 at 10:00am — No Comments

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