[ COVER OF THE WEEK ]
Big Data knows everything Source
[ AnalyticsWeek BYTES]
[ NEWS BYTES]
[ FEATURED COURSE]
Machine learning is the study of algorithms that learn from data and experience. It is applied in a vast variety of application areas, from medicine to advertising, from military to pedestrian. Any area in which you need… more
[ FEATURED READ]
The eagerly anticipated Fourth Edition of the title that pioneered the comparison of qualitative, quantitative, and mixed methods research design is here! For all three approaches, Creswell includes a preliminary conside… more
[ TIPS & TRICKS OF THE WEEK]
Data Analytics Success Starts with Empowerment
Being Data Driven is not as much of a tech challenge as it is an adoption challenge. Adoption has it’s root in cultural DNA of any organization. Great data driven organizations rungs the data driven culture into the corporate DNA. A culture of connection, interactions, sharing and collaboration is what it takes to be data driven. Its about being empowered more than its about being educated.
[ DATA SCIENCE Q&A]
Q:What is better: good data or good models? And how do you define ‘good? Is there a universal good model? Are there any models that are definitely not so good?
A: * Good data is definitely more important than good models
* If quality of the data wasnt of importance, organizations wouldnt spend so much time cleaning and preprocessing it!
* Even for scientific purpose: good data (reflected by the design of experiments) is very important
How do you define good?
– good data: data relevant regarding the project/task to be handled
– good model: model relevant regarding the project/task
– good model: a model that generalizes on external data sets
Is there a universal good model?
– No, otherwise there wouldnt be the overfitting problem!
– Algorithm can be universal but not the model
– Model built on a specific data set in a specific organization could be ineffective in other data set of the same organization
– Models have to be updated on a somewhat regular basis
Are there any models that are definitely not so good?
– ‘all models are wrong but some are useful George E.P. Box
– It depends on what you want: predictive models or explanatory power
– If both are bad: bad model
[ VIDEO OF THE WEEK]
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[ QUOTE OF THE WEEK]
Numbers have an important story to tell. They rely on you to give them a voice. Stephen Few
[ PODCAST OF THE WEEK]
[ FACT OF THE WEEK]
And one of my favourite facts: At the moment less than 0.5% of all data is ever analysed and used, just imagine the potential here.