DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. When business decisions are made based on bad models, the consequences can be severe. What is a model?

Risk 111

Risk Modeling IT Risk Management 111

Jedox

MAY 17, 2022

Financial planners , Chief Financial Officers, and analysts have all struggled to build accurate methods for predicting what’s likely to happen. Prior to the dawn of advanced statistical analysis and machine learning, predictive analytics efforts fell into 4 broad categories: Guessing , which is the default that most people revert to.

Predictive Analytics 81

Predictive Analytics Finance Forecasting Analytics 81

Sisense

AUGUST 11, 2019

Typically, this involves using statistical analysis and predictive modeling to establish trends, figuring out why things are happening, and making an educated guess about how things will pan out in the future. BA primarily predicts what will happen in the future. What About “Business Intelligence”?

Business Intelligence 75

Business Intelligence Business Analytics Analytics OLAP 75

Sisense

APRIL 10, 2020

R is a tool built by statisticians mainly for mathematics, statistics, research, and data analysis. Here, we will implement the XG-Boost algorithm, an algorithm that learns on the basis of training data (which we loaded earlier in both R and Python programming languages) with the help of probability and statistics.

Deep Learning 98

Deep Learning Data Science Machine Learning Visualization 98

Smarten

JUNE 26, 2018

This article provides a brief definition of the multinomial-logistic regression classification algorithm and its uses and benefits. All of these tools are designed for business users with average skills and require no special skills or knowledge of statistical analysis or support from IT or data scientists.

IT 40

IT Business Intelligence Predictive Modeling Statistics 40

Ms SQL Girl

MAY 19, 2016

To simplify, “In-database Advanced Analytics”: you can run powerful statistical / predictive modelling (from R) inside SQL Server. Read the official definition here. As you may already know In-database Analytics (also known as Advanced Analytics) is available in SQL Server 2016. Check Out SQL Latest Bits.

Visualization 45

Visualization Predictive Modeling Statistics Reporting 45

datapine

MARCH 25, 2022

While some experts try to underline that BA focuses, also, on predictive modeling and advanced statistics to evaluate what will happen in the future, BI is more focused on the present moment of data, making the decision based on current insights. What Is Business Intelligence And Analytics?

Business Intelligence 264

Business Intelligence Analytics Statistics Dashboards 264

Ms SQL Girl

MAY 19, 2016

To simplify, “In-database Advanced Analytics”: you can run powerful statistical / predictive modelling (from R) inside SQL Server. Read the official definition here. As you may already know In-database Analytics (also known as Advanced Analytics) is available in SQL Server 2016. Check Out SQL Latest Bits.

Visualization 40

Visualization Predictive Modeling Statistics Reporting 40

Smarten

NOVEMBER 19, 2018

While self-serve predictive analytics tools are designed to satisfy the needs of business users, these tools can also be used by skilled data scientists and business analysts for statistical and predictive analytics algorithms , to perform more sophisticated and complex analysis, achieve clarity and provide detailed, meaningful advanced analytics and (..)

Business Objectives 40

Business Objectives Predictive Analytics Analytics Forecasting 40

Data Science and Beyond

JULY 22, 2018

Two years later, I published a post on my then-favourite definition of data science , as the intersection between software engineering and statistics. This article is a short summary of my understanding of the definition of data science in 2018. Recent definitions by Hernán, Hawkins, and Dubossarsky.

Data Science 79

Data Science Machine Learning Statistics Predictive Modeling 79

Domino Data Lab

APRIL 21, 2021

Rules-based fraud detection (top) vs. classification decision tree-based detection (bottom): The risk scoring in the former model is calculated using policy-based, manually crafted rules and their corresponding weights. Let’s also look at the basic descriptive statistics for all attributes. 3f" % x) dataDF.describe().

Statistics 69

Statistics Machine Learning Modeling Metrics 69

Domino Data Lab

AUGUST 12, 2021

In a previous blog , we have covered how Pandas Profiling can supercharge the data exploration required to bring our data into a predictive modelling phase. Excellent, let us look at the descriptive statistics for our dataset. If we were to use this column in a model, we are now aware that we have an unbalanced dataset.

Machine Learning 126

Machine Learning Reporting Statistics Visualization 126

Smarten

JULY 10, 2018

This article summarizes our recent article series on the definition, meaning and use of the various algorithms and analytical methods and techniques used in predictive analytics for business users, and in augmented data preparation and augmented data discovery tools.

Analytics 40

Analytics Forecasting Statistics Sales 40

Darkhorse

JULY 6, 2017

Let’s further pretend you’re starting out with the aim of doing a big predictive modeling thing using machine learning. Sometimes, you need to re-categorize the past to match up to the current category definitions. Summary statistics are not your friend – they may in fact lead you astray. So what is data wrangling?

Data Lake 74

Data Lake Sales Machine Learning Visualization 74

Rocket-Powered Data Science

OCTOBER 6, 2023

What is the point of those obvious statistical inferences? The point is that the 100% association between the event and the preceding condition has no special predictive or prescriptive power. How do predictive and prescriptive analytics fit into this statistical framework?

Business Analytics 157

Business Analytics Prescriptive Analytics Analytics Diagnostic Analytics 157

Domino Data Lab

AUGUST 20, 2019

The two major ways of rescaling are either by changing on a fixed scale or changing the values with respect to some statistic computed from the data. Standardization , a statistical rescaling, is a bit trickier. In the statistical world, the one-hot coding goes by the names of treatment or dummy coding. We’ll bring it back in.

Testing 68

Testing Modeling Interactive Measurement 68

Smarten

JUNE 25, 2018

This article provides a brief explanation of the definition and uses of the Descriptive Statistics algorithms. What is a Descriptive Statistics? Descriptive statistics helps users to describe and understand the features of a specific dataset, by providing short summaries and a graphic depiction of the measured data.

Statistics 40

Statistics Enterprise Measurement Business Intelligence 40

Domino Data Lab

JULY 9, 2019

Diving into examples of building and deploying ML models at The New York Times including the descriptive topic modeling-oriented Readerscope (audience insights engine), a prediction model regarding who was likely to subscribe/cancel their subscription, as well as prescriptive example via recommendations of highly curated editorial content.

Data Science 112

Data Science Machine Learning Advertising Modeling 112

datapine

NOVEMBER 27, 2019

The demand for real-time online data analysis tools is increasing and the arrival of the IoT (Internet of Things) is also bringing an uncountable amount of data, which will promote the statistical analysis and management at the top of the priorities list. It’s an extension of data mining which refers only to past data.

Business Intelligence 361

Business Intelligence Analytics Prescriptive Analytics Data Quality 361

O'Reilly on Data

MARCH 24, 2020

This definition of low-quality data defines quality as a function of how much work is required to get the data into an analysis-ready form. So when you’re missing data or have “low-quality data,” you use assumptions, statistics, and inference to repair your data. No other supervision is required!”

Machine Learning 346

Machine Learning Statistics Data Quality Modeling 346

Smarten

DECEMBER 3, 2023

If you are not already familiar with the term, ‘Citizen Data Scientist,’ you might want a definition of that term as well. The definition of Augmented Analytics can be broad, and all augmented analytics solutions are not equal in capabilities, features and functions. What is self-service analytics?

Key Performance Indicator 52

Key Performance Indicator Analytics IT Predictive Analytics 52

Alation

MAY 2, 2023

Data analytics techniques, such as machine learning (ML), artificial intelligence (AI), and predictive modeling, can help businesses extract valuable insights from this data to improve operations and customer experience. Meanwhile, predictive analytics enable them to analyze customer market trends.

Data Analytics 52

Data Analytics Analytics ROI Data Governance 52

Alation

MAY 2, 2023

Data analytics techniques, such as machine learning (ML), artificial intelligence (AI), and predictive modeling, can help businesses extract valuable insights from this data to improve operations and customer experience. Meanwhile, predictive analytics enable them to analyze customer market trends.

Data Analytics 40

Data Analytics Analytics ROI Data Governance 40

Data Science and Beyond

JANUARY 8, 2017

My main problem with the Kissmetrics infographic is that it helps feed an illusion of understanding that is prevalent among those with no statistical training. As mentioned above, Fader and Hardie provide Excel implementations of some of their models, which produce individual-level lifetime value predictions.

Statistics 100

Statistics Modeling Predictive Modeling Marketing 100

Jet Global

MAY 1, 2023

Introduction Why should I read the definitive guide to embedded analytics? The Definitive Guide to Embedded Analytics is designed to answer any and all questions you have about the topic. It is now most definitely a need-to-have. CRM, ERP, EHR/EMR) or portals (e.g., intranets or extranets).

Analytics 52

Analytics Cost-Benefit Visualization Dashboards 52