This week we look at several case studies where success on the AI front was not sufficient to assure longer term business success. Our course spotlight is on: Aug 20 – Sep 17: Introduction to Design of Experiments Learn how to design experiments (especially costly ones) in ways that yield the most information for the […] The post Aug 5: AI success does not always lead to business success appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

  Program Cost $5,999 Financing fee $643 Number of payments 18 Payment Period monthly Payment amount $319 Total $6,642 Prepayment: There is no prepayment penalty or discount. Cancellation and Refunds: Payments and associated fees are non-refundable. Late Payment Fee: You may be charged up to $50 per payment for payments made more than 30 days […] The post Table Test appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

“In the age of Big Data we often believe that our predictions about the future are better than ever before. But …in the real world, we often get better results by using simple rules and considering less information.” (From a review of Gerd Gigerenzer’s Data Savvy) The Introduction to Data Literacy course, taught by Veronica Carlan, is your entry […] The post Oct 19: Data Literacy – The Chainsaw Case appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

A famous business school case by Harvard Professor Michael Porter on forecasting chainsaw sales dramatically illustrated the limits of statistical models when common business sense and clear-eyed thinking are missing. In the chainsaw case, students were asked to forecast the future U.S. demand for chainsaws, a growing market, and assess the relative positions of different […] The post Data Literacy – The Chainsaw Case appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

In deployed machine learning pipelines, “drift” is changes in the model environment that cause the model performance to degrade over time.  Drift might result from data quality changes.  For example, increasing amounts of missing values in the input data.  Or a company might alter the definitions in categories (e.g. product groupings) that are features in […] The post Word of the Week – Drift appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

  This week we look at several case studies where success on the AI front was not sufficient to assure longer term business success. Our course spotlight is on: Aug 20 – Sep 17: Introduction to Design of Experiments Learn how to design experiments (especially costly ones) in ways that yield the most information for the […] The post Aug 5: AI success does not always lead to business success appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

Who would have thought that an entire book devoted to the bias-variance tradeoff would make it to the NY Times business best seller list? The book is the recently-published Noise, by Daniel Kahneman, Olivier Sibony and Cass R. Sunstein, and, as of the beginning of August, it was #2 on the list. Kahneman, who wrote […] The post Book Review – Noise appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

A common problem in machine learning is the “rare case” situation. In many classification problems, the class of interest (fraud, purchase by a web visitor, death of a patient) is rare enough that a data sample may not have enough instances to generate useful predictions. One way to deal with this problem is, in essence, […] The post Word of the Week – Label Spreading appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

In their book Mining your Own Business, Jeff Deal and Gerhard Pilcher, COO and CEO of Elder Research respectively, describe what I’ll call “The Case of the Climbing Churn.” Churn is when a subscriber cancels or fails to renew a service or subscription. A successful predictive model for identifying likely churners was deployed for a […] The post AI Success, but Not Business Success appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more

  This week we look at odds and betting; our course spotlights are July 23 -Aug 20: SQL – Responsible Data ScienceJuly 30 -Aug 27: SQL – Biostatistics 1 – For Medical Science and Public Health See you in class! – Peter BruceFounder of The Institute for Statistics Education at Statistics.com …………………………….. News You Need to Know What’s […] The post July 22: Odds and Betting appeared first on Statistics.com: Data Science, Analytics & Statistics Courses ..read more