This rubric covers the use of statistical tools working on large datasets to create models and derive inferences, as well as coverage of the field in its entirety. This differs from machine learning primarily in that the latter focuses on functional gradient analysis or neural networks (kernels) to derive models.
Business intelligence has been making waves all over the world lately, especially in the business side of things. Organizations across all industries have it as… Read More »Business Intelligence: Top Use Cases for the New-Age Businesses
In this new paper (Rubin, 2021), I consider when researchers should adjust their alpha level (significance threshold) during multiple testing and multiple comparisons. I consider… Read More »When to Adjust Alpha During Multiple Testing
Download and use a free box and whisker outlier and anomaly detection template that first launched on KDNuggets.com in 2021. Or, copy, paste and run this FREE… Read More »Box Plot Graph Template Debuts on KDNuggets: Now Use the Free Source Code on Your Own Data
Image Source: Statistical Aid Sampling is a statistical procedure of selecting some representative part from an existing population or study area. Specifically, draw a sample from the… Read More »An Introduction to Statistical Sampling
Image Source: Statistical Aid Variance is one of the best measures of dispersion which measure the difference of all observation from the center value… Read More »Variance vs Standard Deviation
Image source: Statistical Aid Cluster sampling is defined as a sampling method where multiple clusters of people are created from a population where they are indicative of… Read More »Cluster sampling: A probability sampling technique
Predictive analytics tools are a key asset in detecting natural disasters. With higher accuracy than other weather detection sensors, they can detect early signs of… Read More »Detect natural disasters with the help of predictive analytics tools
Data analysis is the process of evaluating data using analytical and statistical tools to discover useful information and help you make business decisions. There are… Read More »What is data analysis and why is it important?
Forecasting is the process of making prediction of the future based on past and present data. In many cases a reliable forecast can be worth a… Read More »A Few Useful Techniques for Business Forecasting
Data mesh is an architectural paradigm that unveils analytical data at scale, rapidly releasing access to an increasing number of distributed domain data sets for… Read More »What is a Data Mesh?
