Business analytics (BA), a group of disciplines and technologies, uses data analysis, statistical modelling, and other quantitative techniques. It entails a rigorous, iterative examination of the data within an organization with a focus on statistical analysis to inform decision-making. Data-driven businesses aggressively seek out ways to use their data as a competitive advantage and see […]
If you are new to data science or to the big data industry, understanding complex jargon that dominates the industry can be difficult and overwhelming. With words like predictive analytics, machine learning, data munging and acronyms like IOT thrown casually in conversations, it’s easy to feel left out. Have no fear, most commonly used data […]
Many people have this doubt, what’s the difference between statistics and machine learning? Is there something like machine learning vs. statistics? From a traditional data analytics standpoint, the answer to the above question is simple. Machine Learning is an algorithm that can learn from data without relying on rules-based programming. Statistical modeling is a formalization of […]
R is probably every data scientist’s preferred programming language (besides Python and SAS) to build prototypes, visualize data, or run analyses on data sets. There are so many libraries, applications and techniques exist to explore data in R that I’m sure even experts don’t know them all! Aspiring data scientists who are reading this though, […]
This is the 2nd part of the series. Read the first part here: Logistic Regression Vs Decision Trees Vs SVM: Part I In this part we’ll discuss how to choose between Logistic Regression , Decision Trees and Support Vector Machines. The most correct answer as mentioned in the first part of this 2 part article , still […]
The Mint newspaper has come out with an interesting article on how the banking industry is using business analytics to prosper. Below is an excerpt from the article: “One of the first instances of the use of analytics (in banking in India) can be traced back to the early 2000s when HDFC Bank Ltd, now […]
For many who are trying to start with data analytics, R comes across as a good programming tool being free and famous. But then you stumble onto a big hurdle before you can even type an ‘r’ of R [oh i wish they had given a longer name to R]. The word “programming” scares half […]
On 19th Feb, 2014, Facebook announced the acquisition of Whatsapp, a mobile messaging service with over 450mn users for an eye-popping US$ 19 bn of cash and Facebook shares in total. This figure seems insane for a company which charges some of its users US$ 0.99 every year for its services and reportedly had revenues […]
All of us at some point in the process of examining data, check for correlations among different variables in the data especially pair-wise correlations. Among a large chunk of business analysts in industry, there exists a notion of ‘linear correlation coefficient’ being the only criterion for pair-wise correlation and hence at the maximum a Proc Corr is run in […]
Analysis has been in existence since the inception of mankind. In some form or another we as human beings have always analysed people, processes or things around us. In the past this was based only on gut-feel, beliefs, judgements, pre-conceived notions and on what we had seen happening previously. Analysis today is done more scientifically […]
