Learn what statistical analytics is and how it can be used to collect, analyze, and interpret data. This blog covers statistical analysis types, methods, and more.
Predictive modeling is the process of using known results to create a statistical model that can be used for predictive analysis and forecasting future behaviors. Think of predictive modeling as under the umbrella of predictive analytics. Predictive analytics is a field of data mining that tries to ...
Data science is an interdisciplinary field that uses scientific methods, processes, algorithms, and systems to extract knowledge and insights from structured and unstructured data. In simpler terms, data science is about obtaining, processing, and analyzing data to gain insights for many purposes. The...
1. Predictive data analytics Predictive analyticsmay be the most used type of data analytics. Businesses use predictive analytics to identify trends, correlations, and causation. The category can be further broken down intopredictive modelingandstatistical modeling, which go hand in hand. ...
Predictive analytics is the art of using historical & current data to make projections about what might happen in the future. Learn more for your business.
Machine Learning:For data science, machine learning is very important. A Data Scientist must know the foundations of statistics as well as the principles of ML, for them to be able to extract and analyze the data properly. Modeling:In this case, mathematical models are used to make predictions...
When people think of statistics, they will probably think of distributions. Probability distributions help us describe statistical events and understand the frequency and probability of specific outcomes from these events. Their primary critical use in data science is to help us understand the type of...
Data science is an essential part of many industries today, given the amounts of data that are produced, & is one of the most debated topics in IT circles. Know More!
As an area of expertise, data science is much larger in scope than the task of conducting data analytics and is considered its own career path. Those who work in the field of data science are known as data scientists. These professionals build statistical models, develop algorithms, train mach...
The role of topic modeling in business According to some sources, the average person generates in excess of 1.7MB of digital data per second. This number amounts to more than 2.5 quintillion bytes of data per day, of which 80-90% is unstructured. ...