Smart Data Collective

MARCH 2, 2023

However, there are even more important benefits of using big data during a bad economy. As a result, they will need to invest in data analytics tools to sustain a competitive edge in the face of growing economic uncertainty. They can use data mining tools to evaluate the average interest rate of different lenders.

Big Data 82

Big Data Uncertainty Risk Data mining 82

O'Reilly on Data

JANUARY 22, 2019

Finance is not physics. Despite all the complicated mathematics of modern finance, its theories are woefully inadequate, especially when compared to those of physics. Perhaps finance is harder than physics. This observation is particularly applicable to finance. Image by Mike Shwe and Deepak Kanungo. Used with permission.

Modeling 134

Modeling Finance Uncertainty Data mining 134

Smart Data Collective

FEBRUARY 4, 2021

Big Data is Vital to the Survival of Countless Businesses. With increasing uncertainty and evolving consumer demand, running a business seems like an enormous challenge. There are a lot of budgeting tools that use big data to separate your finances. Use Digital Archiving to Keep Records of Invoices & Receipts.

Data Analytics 141

Data Analytics Analytics Cost-Benefit Big Data 141

The Unofficial Google Data Science Blog

JANUARY 14, 2016

Unlike experimentation in some other areas, LSOS experiments present a surprising challenge to statisticians — even though we operate in the realm of “big data”, the statistical uncertainty in our experiments can be substantial. We must therefore maintain statistical rigor in quantifying experimental uncertainty.

Experimentation 41

Experimentation Statistics Metrics Measurement 41

The Unofficial Google Data Science Blog

JULY 22, 2020

For the first example, consider a small website that is a platform for content on personal finance. How willing your users are to engage with personal finance content depends on whether or not it’s the weekend. For this reason we don’t report uncertainty measures or statistical significance in the results of the simulation.

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. We previously went into some detail as to why observations in an LSOS have particularly high coefficient of variation (CV).

Experimentation 40

Experimentation Metrics Statistics Measurement 40