Occam's Razor

FEBRUARY 7, 2022

Since you're reading a blog on advanced analytics, I'm going to assume that you have been exposed to the magical and amazing awesomeness of experimentation and testing. And yet, chances are you really don’t know anyone directly who uses experimentation as a part of their regular business practice. Wah wah wah waaah.

Experimentation 101

Experimentation Testing Optimization Marketing 101

CIO Business Intelligence

JUNE 28, 2023

As Belcorp considered the difficulties it faced, the R&D division noted it could significantly expedite time-to-market and increase productivity in its product development process if it could shorten the timeframes of the experimental and testing phases in the R&D labs.

Digital Transformation 92

Digital Transformation Cost-Benefit Informatics Data mining 92

CIO Business Intelligence

MARCH 21, 2022

Data scientists are often engaged in long-term research and prediction, while data analysts seek to support business leaders in making tactical decisions through reporting and ad hoc queries aimed at describing the current state of reality for their organizations based on present and historical data.

Unstructured Data 135

Unstructured Data Data Analytics Analytics Structured Data 135

DataRobot Blog

JULY 28, 2022

This article presents a case study of how DataRobot was able to achieve high accuracy and low cost by actually using techniques learned through Data Science Competitions in the process of solving a DataRobot customer’s problem. If this knock leveling could be automated, it would result in significant cost savings.

Data Science 72

Data Science Machine Learning Statistics Modeling 72

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

Sisense

JANUARY 21, 2020

This is an example of Simpon’s paradox , a statistical phenomenon in which a trend that is present when data is put into groups reverses or disappears when the data is combined. It’s time to introduce a new statistical term. As an example, I’ll present a case from The Book of Why by Judea Pearl.

Testing 104

Testing Risk Data-driven Statistics 104

The Unofficial Google Data Science Blog

DECEMBER 14, 2021

Some of that uncertainty is the result of statistical inference, i.e., using a finite sample of observations for estimation. But there are other kinds of uncertainty, at least as important, that are not statistical in nature. Among these, only statistical uncertainty has formal recognition. Vignette: Data Science at fluff.ai

Uncertainty 56

Uncertainty Statistics Measurement Cost-Benefit 56

IBM Big Data Hub

APRIL 18, 2024

LLMs like ChatGPT are trained on massive amounts of text data, allowing them to recognize patterns and statistical relationships within language. Education Imagine an AGI tutor who doesn’t present information but personalizes the learning journey. It wouldn’t treat all students the same.

Cost-Benefit 88

Cost-Benefit Modeling Manufacturing Interactive 88

Occam's Razor

MARCH 23, 2021

This is very hard to do, we now have a proven seven-step experimentation process, with one of the coolest algorithms to pick matched-markets (normally the kiss of death of any large-scale geo experiment). What does the diminishing returns curve look like for TV GRPs for our company? More shouting is not really better – and it is expensive!

Analytics 131

Analytics Scorecard Strategy Testing 131

O'Reilly on Data

APRIL 19, 2021

We’ll look at this later, but being able to reproduce experimental results is critical to any science, and it’s a well-known problem in AI. It’s more concerning that workflow reproducibility (3%) is in second-to-last place. This makes sense, given that we don’t see heavy usage of tools for model and data versioning. Maturity by Continent.

Enterprise 356

Enterprise Modeling Risk Manufacturing 356

The Unofficial Google Data Science Blog

JANUARY 16, 2018

We present data from Google Cloud Platform (GCP) as an example of how we use A/B testing when users are connected. Experimentation on networks A/B testing is a standard method of measuring the effect of changes by randomizing samples into different treatment groups. This simulation is based on the actual user network of GCP.

Testing 58

Testing Experimentation Measurement Modeling 58

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

Ontotext

APRIL 3, 2024

In this post we present you with insight gathered at the Knowledge Graph Forum during the panel on Financial Services. Nimit Mehta: I think that 2024 is going to be a buckle-down year, but, at the same time, we’ll see a rapid explosion of experimentation. These are not statistical inferences. What is a customer? What is fraud?

Technology 59

Technology Risk Digital Transformation Measurement 59

Domino Data Lab

DECEMBER 4, 2020

Domino Lab supports both interactive and batch experimentation with all popular IDEs and notebooks (Jupyter, RStudio, SAS, Zeppelin, etc.). We can also check for missing values, although it appears that none are present. We can group by study arm and calculate various statistics as mean and standard deviation. x)), pain_df).

Metrics 59

Metrics Data Science Knowledge Discovery Measurement 59

Alation

SEPTEMBER 28, 2022

Technical environments and IDEs must be disposable so that experimental costs can be kept to a minimum. Quality must be monitored continuously to catch unexpected variation cases and produce statistics on its operation. This presents a huge time and energy saver for the analytics teams at large! Disposable environments.

Cost-Benefit 52

Cost-Benefit Data Quality Manufacturing Testing 52

Occam's Razor

AUGUST 22, 2011

Consultants, Analysts: Present Impactful Analysis, Insightful Reports. Build A Great Web Experimentation & Testing Program. Experimentation and Testing: A Primer. Tip #9: Leverage Statistical Control Limits. Tip#1: Statistical Significance. Web Analytics Career Advice: Statistics, Business, IT & Mushrooms.

KPI 124

KPI Metrics Measurement ROI 124

Occam's Razor

JUNE 4, 2018

I mean developing and inserting a subtle collection of gentle nudges that can help increase the conversion rate by a statistically significant amount. Present a yummy spreadsheet that quantifies the cost of inaction , how much money you’ll lose by not delivering a 25% improvement every week. I don’t mean: BUY IT NOW OR ELSE!

Strategy 124

Strategy Cost-Benefit Testing Sales 124

Jet Global

APRIL 27, 2023

And you’ll be able to complete provisioning faster because data is presented in real-time, without needing to wait on data consolidation or processing. This timely and comparative reporting is exactly what you need to see your group’s effective tax rate (ETR) much earlier on and act if needed.

Manufacturing 52

Manufacturing Marketing Risk Experimentation 52

Occam's Razor

JUNE 6, 2007

Bonus: Interactive CD: Contains six podcasts, one video, two web analytics metrics definitions documents and five insightful powerpoint presentations. Experimentation & Testing (A/B, Multivariate, you name it). In 480 pages the book goes from from beginner's basics to a advanced analytics concepts. Clicks and outcomes.

Analytics 60

Analytics Metrics Marketing Dashboards 60

Domino Data Lab

JUNE 23, 2019

Pete Skomoroch presented “ Product Management for AI ” at Rev. 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. Session Summary.

Management 110

Management Machine Learning Experimentation Metrics 110

O'Reilly on Data

MARCH 23, 2023

And it can look up an author and make statistical observations about their interests. If you are using ChatGPT in any situation where correctness matters, you must be extremely careful to check ChatGPT’s logic and anything it presents as a statement of fact. It does a great job of collecting and presenting data.

IT 262

IT Modeling Testing Risk 262

The Unofficial Google Data Science Blog

MAY 31, 2016

However, meaningful insights require a representative panel or an analysis that corrects for the sampling bias that may be present. A geo experiment is an experiment where the experimental units are defined by geographic regions. The expected precision of our inferences can be computed by simulating possible experimental outcomes.

Advertising 42

Advertising Testing Sales Statistics 42

AWS Big Data

JULY 3, 2023

Similarly, if the existing dataset has stocks that are not present in the new dataset, those records will remain expired with a status code of ‘expired’. Buy Experimentation findings The following table shows Sharpe Ratios for various holding periods and two different trade entry points: announcement and effective dates.

Snapshot 80

Snapshot Data Lake Testing Strategy 80

Occam's Razor

NOVEMBER 17, 2008

There is a tendency to think experimentation and testing is optional. So you don't have to worry about integrations with analytics tools, you don't have to worry about rushing to get a PhD in Statistics to interpret results and what not. So as my tiny gift for you here are five experimentation and testing ideas for you.

Testing 112

Testing Experimentation Risk Optimization 112

Domino Data Lab

MAY 8, 2019

They also require advanced skills in statistics, experimental design, causal inference, and so on – more than most data science teams will have. Backstage at Strata UK, I got to chat briefly with James Burke just before he walked on stage to present one of the most fascinating keynote talks I’ve ever attended.

Machine Learning 105

Machine Learning Data Science Modeling Visualization 105

Occam's Razor

FEBRUARY 8, 2021

At different points of the day, sometimes from one minute to the next, I have to switch gears so that I can be fully present as both a good employee and a good people leader. From observing behavior closely, and from my own experimentation and failure, I've noticed consistent patterns in what great employees do and great bosses do.

Strategy 132

Strategy Statistics Cost-Benefit Marketing 132

O'Reilly on Data

DECEMBER 9, 2019

We develop an ordinary least squares (OLS) linear regression model of equity returns using Statsmodels, a Python statistical package, to illustrate these three error types. CI theory was developed around 1937 by Jerzy Neyman, a mathematician and one of the principal architects of modern statistics. and an error term ??

Statistics 27

Statistics Uncertainty Risk Marketing 27

Occam's Razor

JANUARY 9, 2012

It is a lot easier to predict the present. Rather, I'm going to share a clump of realities/rules garnered from the present to help ready you for the predictable near future. This is why owing your own strong digital outpost (your own website) and being present in a space someone else owns (Facebook) matters. Absorb them.

Marketing 140

Marketing B2B Measurement Risk 140

Occam's Razor

SEPTEMBER 13, 2016

Here is my slide the first time I presented the concept in a keynote… Cute, right? :). Hypothesis development and design of experimentation. Ok, maybe statistical modeling smells like an analytical skill. Pattern recognition and understanding trends. Argumentation and logical thinking. Strategic thinking skills.

Modeling 127

Modeling Reporting Strategy Consulting 127

Darkhorse

NOVEMBER 8, 2016

Many charting taxonomies include distributions, but they only present a few options. Strip plots in the flesh: NPR looks at school funding The LA Times on pop music’s evolution Eurostat’s key European statistics Jittered Strip Plot. FlowingData has given us 9 ways to visualize proportions and 11 ways for changes over time.

Visualization 72

Visualization Experimentation Measurement Statistics 72

Occam's Razor

MARCH 23, 2010

Part of it is fueled by a vocal minority genuinely upset that 10 years on we are still not a statistically powered bunch doing complicated analysis that is shifting paradigms. If you don't have a robust experimentation program in your company you are going to die. Part of it fueled by some Consultants. Likely not.

Analytics 118

Analytics Consulting Metrics Experimentation 118

Domino Data Lab

AUGUST 26, 2019

To support the iterative and experimental nature of industry work, Domino reached out to Addison-Wesley Professional (AWP) for appropriate permissions to excerpt the “Tuning Hyperparameters and Pipelines” from the book, Machine Learning with Python for Everyone by Mark E. Choice and Assessment of Statistical Predictions by Stone.

Testing 79

Testing Modeling Machine Learning Metrics 79

The Unofficial Google Data Science Blog

OCTOBER 12, 2017

1]" Statistics, as a discipline, was largely developed in a small data world. More people than ever are using statistical analysis packages and dashboards, explicitly or more often implicitly, to develop and test hypotheses. Data was expensive to gather, and therefore decisions to collect data were generally well-considered.

Experimentation 61

Experimentation Testing Statistics Metrics 61

Smarten

DECEMBER 11, 2017

Advanced Data Discovery ensures data democratization and can drastically reduce the time and cost of analysis and experimentation. A business user with average skills can do all of this without specialized skills, knowledge of statistical analysis or support from IT or professional data scientists.

Experimentation 65

Experimentation Statistics Visualization Dashboards 65

Domino Data Lab

AUGUST 22, 2019

In the present chapter [excerpt], we cover code that will enable you to create your own word vectors as well as to provide them as an input into a deep learning model. Although it’s not perfect, [Note: These are statistical approximations, of course!] representations using RNN encoder-decoder for statistical machine translation.

Deep Learning 111

Deep Learning Modeling Metrics Testing 111

Smarten

JULY 3, 2017

By the time the user receives the report, the data may be outdated or it may be presented in a way that makes it difficult to interpret and use. Tools like plug n’ play predictive analysis and smart data visualization ensure data democratization and drastically reduce the time and cost of analysis and experimentation.

Predictive Modeling 40

Predictive Modeling Visualization Business Intelligence Experimentation 40

IBM Big Data Hub

SEPTEMBER 25, 2023

Presto provides a long list of functions, operators, and expressions as part of its open source offering, including standard functions, maps, arrays, mathematical, and statistical functions. Data Exploration and Innovation: The flexibility of Presto has encouraged data exploration and experimentation at Uber.

OLAP 90

OLAP Data Lake Data-driven Snapshot 90