Occam's Razor

APRIL 8, 2013

To win in business you need to follow this process: Metrics > Hypothesis > Experiment > Act. We are far too enamored with data collection and reporting the standard metrics we love because others love them because someone else said they were nice so many years ago. That metric is tied to a KPI.

Metrics 156

Metrics KPI Analytics Key Performance Indicator 156

Sisense

JANUARY 21, 2020

One of the simplest ways to start exploring your data is to aggregate the metrics you are interested in by their relevant dimensions. A new drug promising to reduce the risk of heart attack was tested with two groups. In 2009, researchers suggested that Simpson’s paradox may occur more often than commonly thought.

Testing 104

Testing Risk Data-driven Statistics 104

Domino Data Lab

MAY 8, 2019

If your “performance” metrics are focused on predictive power, then you’ll probably end up with more complex models, and consequently less interpretable ones. They also require advanced skills in statistics, experimental design, causal inference, and so on – more than most data science teams will have.

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

datapine

JANUARY 31, 2022

Everything is being tested, and then the campaigns that succeed get more money put into them, while the others aren’t repeated. This methodology of “test, look at the data, adjust” is at the heart and soul of business intelligence. This company was originally founded in 2009 as a black car-hailing service in San Francisco.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214