Tag: statistics

statistics in data science and analytics

Expected Value (Formula, Explanation, Everyday Usage and a Game)

Why are people losing at the casinos? Why shouldn’t you buy a lottery ticket? How do you account for uncertainty when you invest a smaller or bigger amount…

statistics in data science and analytics

Statistical Variability (Standard Deviation, Percentiles, Histograms)

In my previous article about statistical averages, we discussed how you can describe your dataset with a few central values (mean, median and mode). That’s well and good……

statistics in data science and analytics

Statistical Significance in A/B testing (and How People Misinterpret Probability)

A few years ago we were running a major homepage A/B test with one of my clients. Huge traffic, huge potential, huge expectations — and huge risk, of…

coding in data science and analytics

Pandas Tutorial 1: Pandas Basics (Reading Data Files, DataFrames, Data Selection)

Pandas is one of the most popular Python libraries for Data Science and Analytics. I like to say it’s the “SQL of Python.” Why? Because pandas helps you…

thoughts about data science and analytics

Why Become a Data Scientist? (7+1 Selfish Reasons)

Why become a data scientist? From time to time, I get this question from people who are flirting with the idea of becoming a data professional. Since you…

statistics in data science and analytics

Statistical Averages – Mean, Median and Mode

As I have mentioned several times, Data Science has 3 important pillars: Coding, Statistics and Business. To succeed, you have to be well-versed in all three. In this…

statistics in data science and analytics

How not to be biased

In the last 2 weeks I’ve introduced 9 common statistical bias types. If you went through them, you have already taken the first very important step towards overcoming…

statistics in data science and analytics

Statistical Bias Types explained – part 2 (with examples)

It’s time to continue our discourse about Statistical Bias Types. This is part 2 – if you missed part 1, read it here: Statistical Bias Types part 1….

statistics in data science and analytics

Statistical Bias Types explained (with examples) – part 1

Humans are stupid. We all are, because our brain has been made that way. The most obvious evidence of this built-in stupidity is the different biases that our…