Selected articles, blog posts and forum questions from DSC, AnalyticBridge, BigDataNews

• Extreme Data Science…
  
  

The business computing always occurs in enterprises, which plays an important role in enterprises operations, and mainly handled by the business users. The key business computing is usually characterized with timeliness and weak predication. There is no ready answer in the ERP, CRM, and other business systems. For example, find out the materials whose inventory level is below the warning limit for 3 consecutive days in the recent 2 weeks. Among those materials, which are used to produce the…

This week we are proud to feature another bright student of ours who, with hard work and determination, translated her dreams of being a data analyst into reality. Fully realizing the potential of analytics in India, Smriti realized that the path to rich career growth lay in obtaining the skills that were in demand in the analytics industry.…

Propensity Score Matching is a statistical matching technique that attempts to estimate the effect of a treatment, policy or other intervention by accounting for the covariates that predict receiving the treatment. It helps to reduce bias due to confounding and can be used to estimate the counterfactual outcome.

For example, many of you will have been to a particular university or school and achieved a certain…

By Ian Morton. Ian worked in credit risk for big banks for a number of years. He learnt about how to (and how not to) build “good” statistical models in the form of scorecards using the SAS Language.

Read original post and similar articles…

Analytic Edge is a provider of high impact business solutions leveraging advanced analytics and technology. Headquartered in Bangalore, India, it is the brainchild of Santosh Nair. With over 12 years of experience in statistical modeling and advanced analytics consulting, Santosh and his team bring a refreshing and dynamic approach to their business. By integrating myriad sources and applying cutting edge…

Analytics can offer a key possibility identifying which products are sold together, because that information can be used to influence targeted communication efforts, store layouts, and in-store promotions.

Facing this topic I have made a personal research, and realize a synthesis, which has helped me to clarify some ideas. The attached presentation does not intend to be exhaustive on the subject, but could perhaps bring you some useful insights.

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Here's my rebuttal to this article published in Wired in 2008.

Vincent's rebuttal:

A lot can be done with black-box pattern…

R squared, also known as coefficient of determination, is a popular measure of quality of fit in regression. However, it does not offer any significant insights into how well our regression model can predict future values. Instead, the PRESS statistic (the predicted residual sum of squares) can be used as a measure of predictive power. The PRESS statistic can be computed in the leave-one-out cross validation…

A colleague of mine wanted to understand how to build predictive models, and asked if I had a strategy for building them. I thought it would be useful to share this. For more details about each stage see my personal blog (My suggested strategy for building a “good” predictive model).…

This week we are happy to introduce and welcome our guest blogger Alastair Kane. Alastair is a freelance writer and has provided this article on behalf of Acxiom a company providing big data analytics services.In this post he talks about how Big Data can enhance Customer Experience.

What is Big Data, and why is it different from other data

As the world becomes…

Here are the top 10, in alphabetical order. Wiley's full list mentions many interesting statistical blogs.

• The Analysis…

BI (Business Intelligence) refers to the intelligence and ability to enhance the enterprises competitiveness, involving report presentation, reporting result calculation, OLAP analysis, business data calculation, data mining and predication. Among these, there are both the technician-oriented high-level systems, and the business user-oriented agile desktop BI tools. In this post, we only talk about agile desktop BI…

One of the most popular application of predictive analytics is optimization of marketing campaign management. I've implemented it several times for clients in four different industries and here is my solution.

Introduction to campaign management

Marketing departments are usually responsible for management the marketing campaigns. Campaigns always have some triggers - may be planned, triggered by customer events and various alerts. Campaigns are run for a…

Jigsaw Academy, a premier online analytics training academy has spent the last six months, visiting business schools across India, spreading awareness about analytics and the exciting and rewarding career options it opens up. They found that Business schools are only just waking up to the realization that data science and SAS skills are imperative for business graduates today.

The recent Graduate Management Admission Council® (GMAC®) Corporate Recruiters…

Beer has been a beverage with a history that dates back to the 6th millennium BC. Beer finds its place in most ancient civilizations and has become a part of popular culture  – one that brings together people over a pint. Until about 2 centuries back, there was no set process for beer brewing and it was more of trial and error method. Things changed as the science of the process improved and beer brewing became an industry. Read on as what goes into processing and making of the beer.…

Well, here are some stupid math tricks to keep you occupied for a while. They can be elegant tricks from random samples or brute force, either way, they avoid all the acrobatics in determining the shape of a distribution and going to an obscure textbook to find the best measure of central tendency. Here at the dashboard factory, we hear certain assertions as to the claim that the median is always the best or that the mean is always the best.

In spreadsheet models that get passed from…