Smart Data Collective

DECEMBER 9, 2021

Possible goals could be to increase conversion for an underperforming product or to test market-fit for a new product. Based on the data available, define strategies to achieve these goals. KPIs are important outcomes and positive or negative shifts show the effectiveness of different strategies. Test first. Iterations.

Big Data 125

Big Data Data-driven Key Performance Indicator Testing 125

Occam's Razor

MARCH 8, 2010

Like good little Reporting Squirrels we collect and stack metrics as if preparing for an imminent ice age. In this case its making right choices about the web metrics we knight and sent to the battle to come back with insights for our beloved corporation to monetize. It is called the Three Layers of So What test. And yet we do.

Metrics 118

Metrics Testing Key Performance Indicator KPI 118

IBM Big Data Hub

APRIL 13, 2023

Creating train/test partitions of the dataset Before collecting deeper insights into the data, I’ll divide this dataset into train and test partitions using Db2’s RANDOM_SAMPLING SP. outtable=FLIGHT.FLIGHTS_TRAIN, by=FLIGHTSTATUS') Copy the remaining records to a test PARTITION. Create a TRAIN partition.

Modeling 81

Modeling Statistics Machine Learning Testing 81

IBM Big Data Hub

APRIL 9, 2024

. “With the data we’ve prepared we can then calculate the odds of a birdie or an eagle from a particular sector; we can also look across to the opposite side of the fairway for contrastive statistics,” says Baughman. ” Training and testing models The Masters digital team used watsonx.ai ” Watsonx.ai

Management 78

Management IT Machine Learning Metrics 78

DataKitchen

JULY 3, 2023

This innovative approach merges the agility of Agile Development, the stability of DevOps, and the meticulousness of Statistical Process Controls, orchestrating a dynamic, enriched, and nimble data ecosystem that is truly remarkable. They need help creating data tests and observing the entire Data Journey for success.

Testing 130

Testing Risk Data-driven Statistics 130

Occam's Razor

SEPTEMBER 24, 2012

FBe's recommendation was (paraphrasing a 35 min talk): Don't invent new metrics, use online versions of Reach and GRPs to measure success. Based on results of value identified for Facebook, optimize their advertising mix strategy for future product launches. I don't think it is simply a metrics/measurement problem.

Advertising 165

Advertising ROI Metrics Marketing 165

IBM Big Data Hub

MAY 17, 2024

” Given the statistics—82% of surveyed respondents in a 2023 Statista study cited managing cloud spend as a significant challenge—it’s a legitimate concern. A successful cloud strategy requires a comprehensive assessment of cloud maturity. Why move to cloud?

Modeling 96

Modeling Cost-Benefit Optimization Digital Transformation 96

Occam's Razor

MARCH 23, 2021

I lovingly call our strategy analytics on the bleeding edge. upgrades to processes to create deeper integration with Finance & Strategy teams. What may or may not be as common, but is an integral part of our analytics strategy is the extensive use of controlled experiments to answer life’s hardest questions. The slow music.

Analytics 133

Analytics Scorecard Strategy Testing 133

CIO Business Intelligence

JUNE 25, 2024

The CIO so-what test Given Apple’s status as company with the world’s second-highest market capitalization and second-highest overall profitability it’s hard to be too critical. And remember your company’s stalled Digital strategy — the one that was going to leverage information technology to increase marketshare, mindshare, and walletshare?

Risk 118

Risk Risk Management Statistics Management 118

CIO Business Intelligence

JUNE 11, 2024

A 1958 Harvard Business Review article coined the term information technology, focusing their definition on rapidly processing large amounts of information, using statistical and mathematical methods in decision-making, and simulating higher order thinking through applications.

IT 136

IT Digital Transformation Broadcasting Business Objectives 136

IBM Big Data Hub

SEPTEMBER 19, 2023

Data science is an area of expertise that combines many disciplines such as mathematics, computer science, software engineering and statistics. Having the right data strategy and data architecture is especially important for an organization that plans to use automation and AI for its data analytics.

Data Science 76

Data Science Data Analytics Prescriptive Analytics Analytics 76

CIO Business Intelligence

FEBRUARY 13, 2023

The name references the Greek letter sigma, which is a statistical symbol that represents a standard deviation. Larger is Better involves a “lower specification limit,” such as test scores — where the target is 100%. During the improve phase, the focus is on testing the best potential solutions identified in the earlier phases.

Management 97

Management Statistics Manufacturing Measurement 97

O'Reilly on Data

MARCH 31, 2020

This means that the AI products you build align with your existing business plans and strategies (or that your products are driving change in those plans and strategies), that they are delivering value to the business, and that they are delivered on time. AI product estimation strategies. Machine learning adds uncertainty.

Management 339

Management Machine Learning Experimentation Metrics 339

O'Reilly on Data

DECEMBER 12, 2019

In addition to newer innovations, the practice borrows from model risk management, traditional model diagnostics, and software testing. Because ML models can react in very surprising ways to data they’ve never seen before, it’s safest to test all of your ML models with sensitivity analysis. [9] What can you do? Data augmentation.

Machine Learning 197

Machine Learning Modeling Testing Risk Management 197

datapine

JANUARY 6, 2022

More often than not, it involves the use of statistical modeling such as standard deviation, mean and median. Let’s quickly review the most common statistical terms: Mean: a mean represents a numerical average for a set of responses. Standard deviation: this is another statistical term commonly appearing in quantitative analysis.

Visualization 246

Visualization Dashboards Cost-Benefit Measurement 246

Octopai

OCTOBER 26, 2022

Continuous pipeline monitoring with SPC (statistical process control). SPC is the continuous testing of the results of automated manufacturing processes. products or product components) are checked to make sure that they do not deviate in a statistically significant way from the expected results. Results (i.e.

Data Quality 52

Data Quality Data Analytics Analytics Manufacturing 52

DataRobot Blog

MAY 26, 2022

In this post, we will dive deeper into how members from both the first and second line of defense within a financial institution can adapt their model validation strategies in the context of modern ML methods. This may be accomplished through a wide variety of tests, to develop a deeper introspection into how the model behaves.

Risk 52

Risk Modeling Metrics Business Objectives 52

Occam's Razor

OCTOBER 17, 2023

They contain 39 strategies to recognize scapegoating (a selection below), in addition to detailed guidance on models, algorithms, frameworks in the Analyst Fix Thyself section (subheadings shared below). Common Scapegoating Strategies. We can’t solve for this metric in the short-term, how can you possibly say the campaign did not work?

KPI 60

KPI Metrics Finance Key Performance Indicator 60

datapine

JULY 17, 2019

These reports are interactive, dynamic, and tailored to the individual user, department, or organization depending on their operational needs, strategies, aims, goals, and objectives. In doing so, you’ll gain a panoramic perspective of where to aim your efforts as well as the metrics and insights that are worth measuring for success.

KPI 223

KPI Reporting Key Performance Indicator Dashboards 223

Smart Data Collective

MARCH 30, 2021

A data-driven approach allows companies of any scale to develop SEO and marketing strategies based not on the opinion of individual marketers but on real statistics. Big data helps better understand your customers, adjust your strategy according to the obtained results, and even decide on the further development of your product line.

Data-driven 89

Data-driven Sales Big Data Marketing 89

datapine

MARCH 19, 2019

According to the statistics portal Statista , there are currently around 4.78 It offers ease of access through mobile devices, on the go, with critical metrics displayed at-a-glance. You should hold internal focus groups to test how ‘scannable’ your dashboard designs are and find out which areas need improvement.

Dashboards 112

Dashboards Visualization Metrics KPI 112

AWS Big Data

APRIL 3, 2024

Many organizations already use AWS Glue Data Quality to define and enforce data quality rules on their data, validate data against predefined rules , track data quality metrics, and monitor data quality over time using artificial intelligence (AI). The metrics are saved in Amazon S3 to have a persistent output.

Data Quality 93

Data Quality Visualization Metadata Metrics 93

Cloudera

DECEMBER 3, 2021

There are a number of metrics that can be used to measure the performance of a system; they include accuracy, precision and F-score to name only three. Tracking key metrics and statistical distributions over time and alerting humans when either of these significantly drift can ensure that systems remain performant and fair.

Uncertainty 105

Uncertainty Measurement Metrics Risk 105

datapine

NOVEMBER 15, 2022

1) What Are Product Metrics? 2) Types Of Product Metrics. 3) Product Metrics Examples You Can Use. 4) Product Metrics Framework. The right product performance metrics will give you invaluable insights into its health, strength and weaknesses, potential issues or bottlenecks, and let you improve it greatly.

Metrics 141

Metrics KPI Measurement Dashboards 141

CIO Business Intelligence

JULY 20, 2022

The 2022 State of the CIO research confirmed talent acquisition and retention strategies are a key issue for CIOs, cited by 38% of respondents, with cybersecurity skills, data science/analytics, and artificial intelligence (AI) and machine learning (ML) in top demand. It’s death by 1,000 paper cuts. That’s the real issue.”.

IT 136

IT Software Cost-Benefit Strategy 136

datapine

FEBRUARY 9, 2024

4) How to Select Your KPIs 5) Avoid These KPI Mistakes 6) How To Choose A KPI Management Solution 7) KPI Management Examples Fact: 100% of statistics strategically placed at the top of blog posts are a direct result of people studying the dynamics of Key Performance Indicators, or KPIs. 3) What Are KPI Best Practices?

KPI 221

KPI Management Key Performance Indicator Measurement 221

BizAcuity

MAY 16, 2022

Fast food companies like Domino’s, McDonald’s and KFC collect massive amounts of data which includes customer data and other key business metrics for their own operations. His name was William Gosset and he is credited to have developed the student t-test. Your data strategy and roadmap will eventually lead you to a BI strategy.

Business Intelligence 52

Business Intelligence Data mining Visualization Data Lake 52

Occam's Razor

AUGUST 22, 2011

" ~ Web Metrics: "What is a KPI? " + Standard Metrics Revisited Series. Barriers To An Effective Web Measurement Strategy [+ Solutions!]. "Engagement" Is Not A Metric, It's An Excuse. Defining a "Master Metric", + a Framework to Gain a Competitive Advantage in Web Analytics.

KPI 125

KPI Metrics Measurement ROI 125

Birst BI

AUGUST 23, 2018

If your data science resources are strained, here is an example data scientist workflow that leverages Birst to speed up tasks throughout the application development lifecycle – data preparation, model development and testing with R integration, deployment into the business, and governance and management.

Machine Learning 73

Machine Learning Data Science Testing Metrics 73

The Unofficial Google Data Science Blog

DECEMBER 14, 2021

Some of that uncertainty is the result of statistical inference, i.e., using a finite sample of observations for estimation. But there are other kinds of uncertainty, at least as important, that are not statistical in nature. Among these, only statistical uncertainty has formal recognition.

Uncertainty 56

Uncertainty Statistics Measurement Cost-Benefit 56

Occam's Razor

FEBRUARY 7, 2022

Since you're reading a blog on advanced analytics, I'm going to assume that you have been exposed to the magical and amazing awesomeness of experimentation and testing. Insights worth testing. The entire online experimentation canon is filled with landing page optimization type testing. You can test landing pages.

Experimentation 103

Experimentation Testing Optimization Marketing 103

CDW Research Hub

AUGUST 19, 2019

Will it include a readout summary of volumes of orders and customers, distilled application monitoring metrics, review and signoff of marketing content? Business strategy. This requires coordination across multiple teams to get all of these applied and tested within the various environments, so don’t leave it to the last minute.

Testing 49

Testing Optimization Data Processing Strategy 49

FineReport

MAY 18, 2024

In scientific research, histograms are commonly used to illustrate the distribution of test scores among students, providing insights into performance patterns and areas for improvement. This technique helps identify correlations or patterns between variables and is widely used in statistical analysis and research studies.

Visualization 52

Visualization Interactive Cost-Benefit Dashboards 52

Occam's Razor

OCTOBER 31, 2011

It artificially inflates the importance of a change in the metric might not be all that important. In this case for my data it is not statistically significant (more on that later in this post), but there is no way you would know that (or not know that) just from the data in front of you. Statistical Significance is Your BFF.

Statistics 131

Statistics Testing Reporting Key Performance Indicator 131

Birst BI

OCTOBER 30, 2018

Descriptive analytics techniques are often used to summarize important business metrics such as account balance growth, average claim amount and year-over-year trade volumes. To generate accurate probabilities of future behavior, predictive analytics combine historical data from any number of applications with statistical algorithms.

Predictive Analytics 73

Predictive Analytics Descriptive Analytics Analytics Metrics 73

Occam's Razor

JANUARY 6, 2010

Change is hard, even if we know that we should be executing a multiplicity strategy to win in the web analytics 2.0 I hope that before you go for massive web analytics glory that your use your wonderful powers first to make sure your site and customer acquisition strategy does not suck. 2 Learn basic statistics. A cartoon book?

Analytics 99

Analytics IT Statistics Metrics 99

Smarten

NOVEMBER 22, 2017

These tools allow the enterprise to establish and monitor key metrics and to objectively assess results. Your business users can perform advanced analytics, using sophisticated tools in an easy-to-use, drag and drop interface, with no advanced skill requirement for statistical analysis, algorithms or technical knowledge.

Analytics 40

Analytics IT Business Intelligence Visualization 40