The role of statistics in data science is often debated. Despite rapid developments in technology giving access to algorithmically sophisticated approaches, I feel that statistics can still provide many worthwhile insights. If I have a database of sales figures spanning many years, I feel that I can become more aware of historic trends and seasonal patterns through the use of statistics. Statistics offers a sense of state, direction, pace, and progress. Statistics can also enable estimation…Continue
Added by Don Philip Faithful on July 19, 2014 at 7:57am — No Comments
The Balanced Scorecard (BSC) is a new buzz-word that stands for the performance management magic pill. Many books on management praise this business concept and report an impressive adoption rate by Fortune 1000 companies. When it comes to practice it appears that only top management in the company knows about the Balanced Scorecard and it is used at a minimum of its potential.
Balanced Scorecard and…Continue