Category: Advanced Analytics

Notes on Sampling and Sample Validation

Published October 30, 2017.

The Rationale for Sampling Sampling is used to extract a smaller dataset from a large population of data for the purpose of analysis and modeling. Working on a small dataset, as opposed to the whole population, allows us to use computers with fewer resources, such as RAM and disk space, as well as performing the […]

Information Value – A Numerical Example

Published August 10, 2017.

Information Value is a widely used statistic in scorecard development, and in data mining in general. I hope you find the numerical example below on Information Value calculation useful. Information Value is a measure that can be leveraged in order to understand how well an Independent Variable (IV) is able to separate the categories of […]