[ COVER OF THE WEEK ]
Data security Source
[ AnalyticsWeek BYTES]
[ NEWS BYTES]
[ FEATURED COURSE]
[ FEATURED READ]
Statistical significance is a way of determining if an outcome occurred by random chance, or did something cause that outcome to be different than the expected baseline. Statistical significance calculations find their … more
[ TIPS & TRICKS OF THE WEEK]
Data Have Meaning
We live in a Big Data world in which everything is quantified. While the emphasis of Big Data has been focused on distinguishing the three characteristics of data (the infamous three Vs), we need to be cognizant of the fact that data have meaning. That is, the numbers in your data represent something of interest, an outcome that is important to your business. The meaning of those numbers is about the veracity of your data.
[ DATA SCIENCE Q&A]
Q:What are confounding variables?
A: * Extraneous variable in a statistical model that correlates directly or inversely with both the dependent and the independent variable
* A spurious relationship is a perceived relationship between an independent variable and a dependent variable that has been estimated incorrectly
* The estimate fails to account for the confounding factor
[ VIDEO OF THE WEEK]
Subscribe to Youtube
[ QUOTE OF THE WEEK]
He uses statistics as a drunken man uses lamp postsfor support rather than for illumination. Andrew Lang
[ PODCAST OF THE WEEK]
[ FACT OF THE WEEK]
Estimates suggest that by better integrating big data, healthcare could save as much as $300 billion a year that’s equal to reducing costs by $1000 a year for every man, woman, and child.