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All Blog Posts Tagged 'efficiency' (9)

Reconciling Opposing Performance Metrics Using Operational Simulations

Sometimes when dealing with performance metrics, there are contradictory signals.  For instance, although both are desirable, it is common for efficiency and efficacy to be in opposition.  An agent in a call centre can handle lots of calls while at the same time getting few sales; this is especially true if the agent’s main objective is to do lots of calls.  This is a highly efficient person albeit unsuccessful in terms of expanding the business.  Conversely, another agent by spending a…

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Added by Don Philip Faithful on May 6, 2018 at 3:30am — No Comments

Technical Deconstruction

The term “technical analysis” usually refers to the study of stock prices.  A technical analyst might use real-time or closing prices of stocks to predict future prices.  This is an interesting concept because of what is normally excluded from the analysis - namely, everything except prices.  Given that the approach doesn’t necessarily consider the health or profitability of the underlying companies, a purely technical approach seems to offer guidance that is disconnected from reality.  Yet…

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Added by Don Philip Faithful on March 17, 2018 at 3:00am — No Comments

Applied Ontology and the Drivers of Data Recognition

I shared my story in a few blogs about returning to university to do a graduate degree.  In my first class, I found myself being asked to define “ontology.”  It was a course on the Geography of Disability.  I returned to class the following week with some details.  I said that strangely enough, this is not a word that can be found in all of my dictionaries.  One dictionary listed “oncology,” which I believe is the study of cancerous tumours.  My Collins Cobuild dictionary says, “Ontology is…

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Added by Don Philip Faithful on February 11, 2018 at 7:30am — No Comments

Deconstructing Symbolic Expression

I sometimes ask myself while musing over the need for a particular service, "I wonder if this is commercially viable?" If the service is routine and the required software is rather inexpensive, perhaps there is little need for a company to outsource. I cannot think of any company that would routinely outsource work normally performed on a spreadsheet. I suspect that decades ago some companies hired specialists to handle spreadsheets; this seems much less likely today in light of the…

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Added by Don Philip Faithful on July 2, 2016 at 7:07am — No Comments

Ontology for Data Science

When I returned to university to do a graduate degree, I was interested to discover how certain terms are subject to "intellectual interpretation." A word that I was asked to explain during one of my earliest classes was "ontology." Since this term was absent from my dictionary, I originally confused it with "oncology." I faintly recall that oncology involves the study of tumors. After consulting a few sources, I said that ontology is the study of how things come to exist or into being. I…

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Added by Don Philip Faithful on May 30, 2015 at 6:17am — No Comments

Top 10 Big Data and Analytics References

Post Adapted from Top 10 Big Data and Analytics References

Price is what you pay, value is what you get

- Warren Buffett

Between rising Data…

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Added by Alex Jones on January 11, 2015 at 5:00am — 2 Comments

History, Music, and the Depth of Data

Like many students about to finish their undergraduate degree, I decided to artificially inflate my grades by taking some "bird courses." These are not courses about birds. Other students assured me that the courses were designed to bolster my marks and to help me complete my program requirements. Considering the many bird courses available, I decided to take introductory music, which was essentially a history course focused on music. It required a lot of…

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Added by Don Philip Faithful on December 6, 2014 at 8:52am — No Comments

Participation in Data and the Effectiveness of Intervention

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…

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Added by Don Philip Faithful on July 19, 2014 at 7:57am — No Comments

Causality, Closet Nazis, and the Metrics of Criteria

A few semesters into my undergraduate studies, I decided to move away from campus in order to escape the incessant party atmosphere. I chose to rent an old but roomy apartment in Kitchener, Ontario. I read somewhere that this city was formerly called New Munich. One day in the dead of morning, I heard loud banging and smashing downstairs. It seemed that neither I nor my cat could sleep, so I went to investigate. I saw the owner of the building at the front entrance of the apartment holding a…

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Added by Don Philip Faithful on June 21, 2014 at 6:27am — No Comments

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