Sep 14, 17: #AnalyticsClub #Newsletter (Events, Tips, News & more..)

[  COVER OF THE WEEK ]

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Correlation-Causation  Source

[ FEATURED COURSE]

Lean Analytics Workshop – Alistair Croll and Ben Yoskovitz

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Use data to build a better startup faster in partnership with Geckoboard… more

[ FEATURED READ]

The Future of the Professions: How Technology Will Transform the Work of Human Experts

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This book predicts the decline of today’s professions and describes the people and systems that will replace them. In an Internet society, according to Richard Susskind and Daniel Susskind, we will neither need nor want … more

[ TIPS & TRICKS OF THE WEEK]

Data aids, not replace judgement
Data is a tool and means to help build a consensus to facilitate human decision-making but not replace it. Analysis converts data into information, information via context leads to insight. Insights lead to decision making which ultimately leads to outcomes that brings value. So, data is just the start, context and intuition plays a role.

[ DATA SCIENCE Q&A]

Q:Explain selection bias (with regard to a dataset, not variable selection). Why is it important? How can data management procedures such as missing data handling make it worse?
A: * Selection of individuals, groups or data for analysis in such a way that proper randomization is not achieved
Types:
– Sampling bias: systematic error due to a non-random sample of a population causing some members to be less likely to be included than others
– Time interval: a trial may terminated early at an extreme value (ethical reasons), but the extreme value is likely to be reached by the variable with the largest variance, even if all the variables have similar means
– Data: “cherry picking”, when specific subsets of the data are chosen to support a conclusion (citing examples of plane crashes as evidence of airline flight being unsafe, while the far more common example of flights that complete safely)
– Studies: performing experiments and reporting only the most favorable results
– Can lead to unaccurate or even erroneous conclusions
– Statistical methods can generally not overcome it

Why data handling make it worse?
– Example: individuals who know or suspect that they are HIV positive are less likely to participate in HIV surveys
– Missing data handling will increase this effect as it’s based on most HIV negative
-Prevalence estimates will be unaccurate

Source

[ VIDEO OF THE WEEK]

@AnalyticsWeek Panel Discussion: Big Data Analytics

 @AnalyticsWeek Panel Discussion: Big Data Analytics

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[ QUOTE OF THE WEEK]

It’s easy to lie with statistics. It’s hard to tell the truth without statistics. – Andrejs Dunkels

[ PODCAST OF THE WEEK]

#BigData @AnalyticsWeek #FutureOfData #Podcast with @DavidRose, @DittoLabs

 #BigData @AnalyticsWeek #FutureOfData #Podcast with @DavidRose, @DittoLabs

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[ FACT OF THE WEEK]

In late 2011, IDC Digital Universe published a report indicating that some 1.8 zettabytes of data will be created that year.

Sourced from: Analytics.CLUB #WEB Newsletter

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