CIO Business Intelligence

JUNE 28, 2022

Philosophers and economists may argue about the quality of the metaphor, but there’s no doubt that organizing and analyzing data is a vital endeavor for any enterprise looking to deliver on the promise of data-driven decision-making. And to do so, a solid data management strategy is key.

Management 138

Management Internet of Things Statistics Data-driven 138

IBM Big Data Hub

APRIL 18, 2024

While these large language model (LLM) technologies might seem like it sometimes, it’s important to understand that they are not the thinking machines promised by science fiction. LLMs like ChatGPT are trained on massive amounts of text data, allowing them to recognize patterns and statistical relationships within language.

Cost-Benefit 93

Cost-Benefit Modeling Manufacturing Interactive 93

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. Because individual observations have so little information, statistical significance remains important to assess. We must therefore maintain statistical rigor in quantifying experimental uncertainty.

Experimentation 41

Experimentation Statistics Metrics Measurement 41

The Unofficial Google Data Science Blog

APRIL 23, 2024

If $Y$ at that point is (statistically and practically) significantly better than our current operating point, and that point is deemed acceptable, we update the system parameters to this better value. Crucially, it takes into account the uncertainty inherent in our experiments. And sometimes even if it is not[1].)

Experimentation 52

Experimentation Optimization Uncertainty Metrics 52

The Unofficial Google Data Science Blog

APRIL 17, 2017

Selection and aggregation of forecasts from an ensemble of models to produce a final forecast. Quantification of forecast uncertainty via simulation-based prediction intervals. We conclude with an example of our forecasting routine applied to publicly available Turkish Electricity data.

Forecasting 83

Forecasting Modeling Statistics Uncertainty 83

The Unofficial Google Data Science Blog

DECEMBER 4, 2019

by THOMAS OLAVSON Thomas leads a team at Google called "Operations Data Science" that helps Google scale its infrastructure capacity optimally. Others argue that there will still be a unique role for the data scientist to deal with ambiguous objectives, messy data, and knowing the limits of any given model.

Forecasting 113

Forecasting Data Science Statistics Uncertainty 113

The Unofficial Google Data Science Blog

JULY 22, 2020

For example, imagine a fantasy football site is considering displaying advanced player statistics. A ramp-up strategy may mitigate the risk of upsetting the site’s loyal users who perhaps have strong preferences for the current statistics that are shown. One reason to do ramp-up is to mitigate the risk of never before seen arms.

Experimentation 95

Experimentation Statistics Testing Strategy 95

The Unofficial Google Data Science Blog

JULY 18, 2023

Editor's note : The relationship between reliability and validity are somewhat analogous to that between the notions of statistical uncertainty and representational uncertainty introduced in an earlier post. But for more complicated metrics like xRR, our preference is to bootstrap when measuring uncertainty.

Measurement 52

Measurement Metrics Uncertainty Slice and Dice 52

Data Science and Beyond

JANUARY 7, 2019

Bootstrap sampling techniques are very appealing, as they don’t require knowing much about statistics and opaque formulas. Instead, all one needs to do is resample the given data many times, and calculate the desired statistics. Don’t compare confidence intervals visually. Pitfall #1: Inaccurate confidence intervals.

Statistics 77

Statistics Uncertainty Testing Modeling 77

The Unofficial Google Data Science Blog

JULY 11, 2017

SCOTT Time series data are everywhere, but time series modeling is a fairly specialized area within statistics and data science. This post describes the bsts software package, which makes it easy to fit some fairly sophisticated time series models with just a few lines of R code. by STEVEN L.

Forecasting 64

Forecasting Statistics Modeling Software 64

The Unofficial Google Data Science Blog

MARCH 31, 2016

KUEHNEL, and ALI NASIRI AMINI In this post, we give a brief introduction to random effects models, and discuss some of their uses. Through simulation we illustrate issues with model fitting techniques that depend on matrix factorization. Random effects models are a useful tool for both exploratory analyses and prediction problems.

Modeling 40

Modeling Statistics Advertising Testing 40

The Unofficial Google Data Science Blog

AUGUST 27, 2019

But importance sampling in statistics is a variance reduction technique to improve the inference of the rate of rare events, and it seems natural to apply it to our prevalence estimation problem. Statistical Science. Statistics in Biopharmaceutical Research, 2010. [4] High Risk 10% 5% 33.3% How Many Strata? 7] Neyman, J.

Metrics 98

Metrics Statistics Uncertainty Optimization 98

Peter James Thomas

AUGUST 12, 2018

I explore some similar themes in a section of Data Visualisation – A Scientific Treatment. Integrity of statistical estimates based on Data. Having spent 18 years working in various parts of the Insurance industry, statistical estimates being part of the standard set of metrics is pretty familiar to me [7].

Metrics 49

Metrics Statistics Data Quality Measurement 49

O'Reilly on Data

FEBRUARY 11, 2020

The responses show a surfeit of concerns around data quality and some uncertainty about how best to address those concerns. Key survey results: The C-suite is engaged with data quality. His insight was a corrective to the collective bias of the Army’s Statistical Research Group (SRG). This last point is important.

Data Quality 304

Data Quality Metadata Data Governance Publishing 304

Insight

FEBRUARY 19, 2020

Using variability in machine learning predictions as a proxy for risk can help studio executives and producers decide whether or not to green light a film project Photo by Kyle Smith on Unsplash Originally posted on Toward Data Science. Hollywood is a $10 billion-a-year industry, and movies range from huge hits to box office bombs.

Risk 67

Risk ROI Modeling Metrics 67

Domino Data Lab

JUNE 23, 2019

All you need to know, for now, is that machine learning is a field of artificial intelligence that uses statistical techniques to give computer systems the ability to learn based on data by being trained on past examples. I assume a good number of people here have a fair amount of background there. It didn’t happen overnight.

Management 110

Management Machine Learning Experimentation Metrics 110

The Unofficial Google Data Science Blog

MAY 31, 2016

Statistical power is traditionally given in terms of a probability function, but often a more intuitive way of describing power is by stating the expected precision of our estimates. This is a quantity that is easily interpretable and summarizes nicely the statistical power of the experiment.

Advertising 42

Advertising Testing Sales Statistics 42

The Unofficial Google Data Science Blog

MARCH 13, 2017

By MUKUND SUNDARARAJAN, ANKUR TALY, QIQI YAN Editor's note: Causal inference is central to answering questions in science, engineering and business and hence the topic has received particular attention on this blog. We are all familiar with linear and logistic regression models. The top few features with the largest weight (i.e.,

IT 68

IT Visualization Modeling Uncertainty 68

The Unofficial Google Data Science Blog

FEBRUARY 29, 2016

In this post we explore why some standard statistical techniques to reduce variance are often ineffective in this “data-rich, information-poor” realm. Despite a very large number of experimental units, the experiments conducted by LSOS cannot presume statistical significance of all effects they deem practically significant.

Experimentation 40

Experimentation Metrics Statistics Measurement 40

The Unofficial Google Data Science Blog

OCTOBER 21, 2015

Our post describes how we arrived at recent changes to design principles for the Google search page, and thus highlights aspects of a data scientist’s role which involve practicing the scientific method. There has been debate as to whether the term “data science” is necessary. Some don’t see the point.

Slice and Dice 45

Slice and Dice Experimentation Data-driven Data Science 45

The Unofficial Google Data Science Blog

APRIL 16, 2019

Modern products often don't start with set-in-stone business models because starting and scaling costs are low. On the other hand, fledgling products often have neither the statistical power to identify the effects of small incremental changes, nor the luxury to contemplate small improvements. Wonders of the internet (and VC funding)!

Experimentation 68

Experimentation Sales Metrics Measurement 68

Jen Stirrup

NOVEMBER 15, 2022

How can systems thinking and data science solve digital transformation problems? Understandably, organizations focus on the data and the technology since data retrieval is often viewed as a data problem. However, the thrust here is not to diminish data science or data engineering.

Data Science 145

Data Science Digital Transformation Data-driven Measurement 145