Jul 16, 20: #AnalyticsClub #Newsletter (Events, Tips, News & more..)

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[  COVER OF THE WEEK ]

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Weak data  Source

[ FEATURED COURSE]

A Course in Machine Learning

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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 Industries of the Future

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The New York Times bestseller, from leading innovation expert Alec Ross, a “fascinating vision” (Forbes) of what’s next for the world and how to navigate the changes the future will bring…. 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:Do you know / used data reduction techniques other than PCA? What do you think of step-wise regression? What kind of step-wise techniques are you familiar with?
A: data reduction techniques other than PCA?:
Partial least squares: like PCR (principal component regression) but chooses the principal components in a supervised way. Gives higher weights to variables that are most strongly related to the response

step-wise regression?
– the choice of predictive variables are carried out using a systematic procedure
– Usually, it takes the form of a sequence of F-tests, t-tests, adjusted R-squared, AIC, BIC
– at any given step, the model is fit using unconstrained least squares
– can get stuck in local optima
– Better: Lasso

step-wise techniques:
– Forward-selection: begin with no variables, adding them when they improve a chosen model comparison criterion
– Backward-selection: begin with all the variables, removing them when it improves a chosen model comparison criterion

Better than reduced data:
Example 1: If all the components have a high variance: which components to discard with a guarantee that there will be no significant loss of the information?
Example 2 (classification):
– One has 2 classes; the within class variance is very high as compared to between class variance
– PCA might discard the very information that separates the two classes

Better than a sample:
– When number of variables is high relative to the number of observations

Source

[ VIDEO OF THE WEEK]

#BigData @AnalyticsWeek #FutureOfData #Podcast with Dr. Nipa Basu, @DnBUS

 #BigData @AnalyticsWeek #FutureOfData #Podcast with Dr. Nipa Basu, @DnBUS

Subscribe to  Youtube

[ QUOTE OF THE WEEK]

I keep saying that the sexy job in the next 10 years will be statisticians. And I’m not kidding. – Hal Varian

[ PODCAST OF THE WEEK]

@Schmarzo @DellEMC on Ingredients of healthy #DataScience practice #FutureOfData #Podcast

 @Schmarzo @DellEMC on Ingredients of healthy #DataScience practice #FutureOfData #Podcast

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[ FACT OF THE WEEK]

100 terabytes of data uploaded daily to Facebook.

Sourced from: Analytics.CLUB #WEB Newsletter

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