Occam's Razor

MAY 22, 2006

This post is a primer on the delightful world of testing and experimentation (A/B, Multivariate, and a new term from me: Experience Testing). Experimentation and testing help us figure out we are wrong, quickly and repeatedly and if you think about it that is a great thing for our customers, and for our employers.

Experimentation 103

Experimentation Testing Optimization Measurement 103

Occam's Razor

SEPTEMBER 19, 2011

This: You understand all the environmental variables currently in play, you carefully choose more than one group of "like type" subjects, you expose them to a different mix of media, measure differences in outcomes, prove / disprove your hypothesis (DO FACEBOOK NOW!!!), A lone intern is your email campaign people cost.

Measurement 119

Measurement Advertising Testing Marketing 119

Smart Data Collective

JULY 9, 2023

One benefit is that they can help with conversion rate optimization. Optimizing Conversion Rates with Data-Driven Strategies A/B Testing and Experimentation for Conversion Rate Optimization A/B testing is essential for discovering which version of your website’s elements are most effective in driving conversions.

Optimization 74

Optimization Data Analytics Analytics Data-driven 74

IBM Big Data Hub

APRIL 18, 2024

While leaders have some reservations about the benefits of current AI, organizations are actively investing in gen AI deployment, significantly increasing budgets, expanding use cases, and transitioning projects from experimentation to production. 46% of survey respondents in 2024 showed a preference for open source models.

Cost-Benefit 90

Cost-Benefit Modeling Manufacturing Interactive 90

AWS Big Data

JANUARY 9, 2024

However, not all customers who have the opportunity to benefit from k-NN have adopted it, due to the significant engineering effort and resources required to do so. This functionality was initially released as experimental in OpenSearch Service version 2.4, and is now generally available with version 2.9.

Cost-Benefit 90

Cost-Benefit Visualization Modeling Machine Learning 90

CIO Business Intelligence

AUGUST 17, 2023

“Since the middle of last year, we’ve been analyzing the potential impact, opportunities, and risks of the speed of innovation in this area, as well as introduced policies and implemented measures to minimize risks,” he says. We’re testing ChatGPT at an individual level,” he says. But overall, we see this as a huge opportunity.

Risk 98

Risk Cost-Benefit Strategy Experimentation 98

Domino Data Lab

AUGUST 6, 2021

With a framework and Enterprise MLOps, organizations can manage data science at scale and realize the benefits of Model Risk Management that are received by a wide range of industry verticals. Outputs for a new problem might not be consistent with the model’s original intent for a different problem without careful research and testing.

Risk Management 64

Risk Management Risk Modeling Enterprise 64

Alation

SEPTEMBER 28, 2022

However, there is a lot more to know about DataOps, as it has its own definition, principles, benefits, and applications in real-life companies today – which we will cover in this article! Automated testing to ensure data quality. Benefits of Adopting DataOps. What Is DataOps? Monitoring and reporting of processes.

Cost-Benefit 52

Cost-Benefit Data Quality Manufacturing Testing 52

CIO Business Intelligence

MAY 1, 2024

Pilots can offer value beyond just experimentation, of course. McKinsey reports that industrial design teams using LLM-powered summaries of user research and AI-generated images for ideation and experimentation sometimes see a reduction upward of 70% in product development cycle times.

Cost-Benefit 122

Cost-Benefit Metrics Insurance Measurement 122

O'Reilly on Data

SEPTEMBER 15, 2020

AI Benefits and Stakeholders. AI is a field where value, in the form of outcomes and their resulting benefits, is created by machines exhibiting the ability to learn and “understand,” and to use the knowledge learned to carry out tasks or achieve goals. AI-generated benefits can be realized by defining and achieving appropriate goals.

Cost-Benefit 293

Cost-Benefit Advertising ROI Machine Learning 293

CIO Business Intelligence

APRIL 18, 2022

Organizations that continued full speed ahead with their digital transformation initiatives during the COVID-19 pandemic are able to ruminate on what went right and what they would have done differently, with the benefit of hindsight. Your organization can both avoid turnover costs and preserve corporate memory.”. It’s a pitfall.”.

Digital Transformation 145

Digital Transformation Dashboards Cost-Benefit Consulting 145

The Unofficial Google Data Science Blog

DECEMBER 14, 2021

or "does this product change benefit users?" In this post, we discuss three types of uncertainty: Statistical uncertainty : the gap between the estimand , the unobserved property of the population we wish to measure, and an estimate of it from observed data. We start proxying this measurement via a rating task.

Uncertainty 56

Uncertainty Statistics Measurement Cost-Benefit 56

datapine

FEBRUARY 4, 2020

Management thinker Peter Drucker once stated, “if you can’t measure it, you can’t improve it” – and he couldn’t be more right. On the right side of this marketing report format, you can dig deeper into relevant costs: per lead, per MQL, SQL and customer as well as total costs and net income of each metric. click to enlarge**.

Reporting 280

Reporting Marketing Advertising Metrics 280

Cloudera

MARCH 2, 2022

Large user communities of analysts and developers benefit from Impala’s fast query execution, helping them get their work done more effectively. Experimental evaluation: We did extensive evaluation of the technique to see how it affects performance and memory utilization. This ensures sizeof(Bucket) is 8 which is power of 2.

Data Warehouse 85

Data Warehouse Optimization Analytics Sales 85

The Unofficial Google Data Science Blog

JUNE 30, 2016

In an ideal world, experimentation through randomization of the treatment assignment allows the identification and consistent estimation of causal effects. Other estimators, such as those based on matching and subclassification, may benefit from the balancing property, but the discussion of those estimators is postponed to a later post.

Statistics 44

Statistics Optimization Modeling Experimentation 44

AWS Big Data

JULY 26, 2023

Exploring the vector engine’s capabilities Built on OpenSearch Serverless, the vector engine inherits and benefits from its robust architecture. The vector engine’s compute capacity used for data ingestion, and search and query are measured in OpenSearch Compute Units (OCUs). The second is to initially provision a 0.5

Metadata 52

Metadata Cost-Benefit Testing Metrics 52

Domino Data Lab

JUNE 23, 2019

Skomoroch proposes that managing ML projects are challenging for organizations because shipping ML projects requires an experimental culture that fundamentally changes how many companies approach building and shipping software. These measurement-obsessed companies have an advantage when it comes to AI. It is similar to R&D.

Management 110

Management Machine Learning Experimentation Metrics 110

Occam's Razor

JULY 18, 2011

You just have to have the right mental model (see Seth Godin above) and you have to… wait for it… wait for it… measure everything you do! For everything you do it is important to measure your effectiveness of all three phases of your effort: Acquisition. You’re trying to measure how well you are doing to: Send emails.

Metrics 137

Metrics Marketing Measurement Cost-Benefit 137

Occam's Razor

AUGUST 12, 2013

I strongly encourage you to read the post and deeply understand all three and what your marketing and measurement possibilities and limitations are. You can even use that column to adjust some of the budget allocation right now, without any attribution modeling, and measure the outcome. All three challenges are important.

Modeling 161

Modeling Optimization Marketing Interactive 161

Occam's Razor

AUGUST 23, 2010

Why comes from lab usability studies , website surveys , "follow me home" exercises, experimentation & testing , and other such delightful endeavors. I know that you even realize Why is ever easier to accomplish (usability studies are economical, surveys and testing platforms start at the sweet price of free!).

Analytics 116

Analytics Cost-Benefit Testing Optimization 116

The Unofficial Google Data Science Blog

OCTOBER 21, 2015

The beliefs of this community are always evolving, and the process of thoughtfully generating, testing, refuting and accepting ideas looks a lot like Science. It is important to make clear distinctions among each of these, and to advance the state of knowledge through concerted observation, modeling and experimentation.

Slice and Dice 45

Slice and Dice Experimentation Data-driven Data Science 45

Occam's Razor

SEPTEMBER 15, 2014

But why blame others, in this post let's focus on one important reason whose responsibility can be squarely put on your shoulders and mine: Measurement. Create a distinct mobile website and mobile app measurement strategies. Media-Mix Modeling/Experimentation. Remember my stress earlier on measuring micro-outcomes?).

Metrics 141

Metrics Reporting Analytics Marketing 141

Occam's Razor

AUGUST 13, 2012

Yehoshua Coren: Best ways to measure user behavior in a multi-touch, multi-device digital world. What's possible to measure. What's not possible to measure. We all have smart phones, laptops, tablets and soon Smart TVs – but most of our measurements are usually done in Cookies that are device/browser specific.

Modeling 124

Modeling Metrics Data Quality Data-driven 124

Domino Data Lab

AUGUST 26, 2019

This control prevents overfitting and reduction in predictive accuracy on new test data. If we don’t like the result of testing after training, we can also select an entirely different learning machine with different internals. The major benefit comes when we start trying to deal with more than one hyperparameter.

Testing 79

Testing Modeling Machine Learning Metrics 79

Occam's Razor

OCTOBER 23, 2006

. ‡ Never start with clickstream, it becomes “old” quickly ‡ People care about their paychecks ‡ Execution strategy: ~ Identify Senior Management hot buttons ~ Exhibit daily that you can • increase revenue • trim costs • improve customer satisfaction. 6 Reporting is not Analysis. Your Choice?

Data-driven 117

Data-driven Metrics KPI Reporting 117

datapine

JANUARY 31, 2022

Because things are changing and becoming more competitive in every sector of business, the benefits of business intelligence and proper use of data analytics are key to outperforming the competition. Everything is being tested, and then the campaigns that succeed get more money put into them, while the others aren’t repeated.

Business Intelligence 214

Business Intelligence Analytics Cost-Benefit ROI 214

The Unofficial Google Data Science Blog

OCTOBER 12, 2017

Yet when we use these tools to explore data and look for anomalies or interesting features, we are implicitly formulating and testing hypotheses after we have observed the outcomes. We must correct for multiple hypothesis tests. Make experimentation cheap and understand the cost of bad decisions.

Experimentation 61

Experimentation Testing Statistics Metrics 61

Occam's Razor

NOVEMBER 2, 2015

The benefits are numerous. Higher Order Bits: Human vs. Business, Success KPIs, S-T-D-C Framework, MoR Test. Economic Value (EcV) is the value of short and long-term revenue and cost savings. I believe the best way to measure success is to measure the above four metrics (actual interaction/action/outcome).

B2B 167

B2B Metrics Testing Recreation/Entertainment 167