CIO Business Intelligence

NOVEMBER 14, 2022

A DSS supports the management, operations, and planning levels of an organization in making better decisions by assessing the significance of uncertainties and the tradeoffs involved in making one decision over another. According to Gartner, the goal is to design, model, align, execute, monitor, and tune decision models and processes.

Data mining 144

Data mining Data-driven Statistics OLAP 144

O'Reilly on Data

JANUARY 22, 2019

An exploration of three types of errors inherent in all financial models. At Hedged Capital , an AI-first financial trading and advisory firm, we use probabilistic models to trade the financial markets. All financial models are wrong. Clearly, a map will not be able to capture the richness of the terrain it models.

Modeling 135

Modeling Finance Uncertainty Data mining 135

The Unofficial Google Data Science Blog

JANUARY 14, 2016

by AMIR NAJMI Running live experiments on large-scale online services (LSOS) is an important aspect of data science. We must therefore maintain statistical rigor in quantifying experimental uncertainty. In this post we explore how and why we can be “ data-rich but information-poor ”.

Experimentation 41

Experimentation Statistics Metrics Measurement 41

The Unofficial Google Data Science Blog

APRIL 23, 2024

Crucially, it takes into account the uncertainty inherent in our experiments. Experiments, Parameters and Models At Youtube, the relationships between system parameters and metrics often seem simple — straight-line models sometimes fit our data well. It is a big picture approach, worthy of your consideration.

Experimentation 52

Experimentation Optimization Uncertainty Metrics 52

The Unofficial Google Data Science Blog

JULY 22, 2020

For this reason we don’t report uncertainty measures or statistical significance in the results of the simulation. In practice, one may want to use more complex models to make these estimates. For example, one may want to use a model that can pool the epoch estimates with each other via hierarchical modeling (a.k.a.

Experimentation 95

Experimentation Statistics Testing Strategy 95

The Unofficial Google Data Science Blog

FEBRUARY 29, 2016

The result is that experimenters can’t afford to be sloppy about quantifying uncertainty. These typically result in smaller estimation uncertainty and tighter interval estimates. Rare binary event example In the previous post , we discussed how rare binary events can be fundamental to the LSOS business model.

Experimentation 40

Experimentation Metrics Statistics Measurement 40