Category: Predictive Analytics

Statistical Power

Published February 14, 2017.

Introduction What is statistical power? Sometimes called the sensitivity of a hypothesis test, statistical power describes the ability for a statistical test to identify whether the effect it is trying to find or measure exists or not. If you’re wondering how a test designed to measure a statistical effect might be unable to measure that […]

From Insights to Actionables

Published January 25, 2017.

Today’s businesses are faced with surmounting pressure not only to appeal to the right audience but also to achieve maximum results with minimum loss under tough constraints. Knowing which customers to target is just half the battle, the other half is balancing internal business affairs such as goals, constraints, or budgets. Sometimes predictive models are […]

Why are Decision Trees so popular?

Published January 5, 2017.

For many years Decision Trees have been a popular modelling approach amongst Data Scientists and Analysts due to their visual nature, ease of use and understanding, lack of data assumptions and simple deployment. If model explanation is key, explaining a visual, rules-based tree to senior managers is far easier than explaining complex neural networks or […]