While statistical significance and other technical measures of performance are commonly assessed and reported, such measures aren't enough for an analysis and associated presentation to be deemed a success. It is also necessary to determine and communicate how the results are significant from a business and practical perspective. If the sponsors of an analysis don't find the … [Read more...] about Statistical Significance Does Not Equal Business Significance
statistics
Descriptive Statistics in Python for Understanding Your Machine Learning Data
Statistics has its own significance in data science, but it's not the only thing which data scientists have to deal with. Statistics are of two kinds “ Bayesian and Classical. When people start talking about statistics, they are most often talking about classical statistics; but understanding both is beneficial. When you focus more on machine learning algorithms and inferential … [Read more...] about Descriptive Statistics in Python for Understanding Your Machine Learning Data
How Big Data is Improving Demand Forecasting Among SMBs
Small and medium-sized businesses (SMBs) are always falling victim to market pressures, but big data processing is transforming the way these companies deal with these pressures. Predicting demand is never easy, especially when it's done in the traditional manner. However, a few recent breakthroughs in the field of statistics are helping to dramatically alter the way that … [Read more...] about How Big Data is Improving Demand Forecasting Among SMBs
4 Things Every Aspiring Data Scientist Should Know
Data science is an amazing, fast-moving career field to become involved in. There's no dearth of demand for capable, analytically-minded individuals. Organizations of all sizes are looking for talented data scientists, and the role offers real value across an extensive range of industries and applications. Here's an overview of some of the essential skills that any aspiring … [Read more...] about 4 Things Every Aspiring Data Scientist Should Know
Agile Transformation; Steps, Statistics & Case Study
Many companies are stuck in old ways of operating, and that negatively affect an organization's speed and adaptability to change. Nowadays, to be competitive in the digital age, businesses need to achieve agility.But many leading companies struggle to be efficient, and data-driven, which then makes them less productive. Agile transformation isn't just about technology. It's … [Read more...] about Agile Transformation; Steps, Statistics & Case Study
