DataRobot

AUGUST 5, 2021

AI and Uncertainty. Some people react to the uncertainty with fear and suspicion. Recently published research addressed the question of “ When Does Uncertainty Matter?: Understanding the Impact of Predictive Uncertainty in ML Assisted Decision Making.”. People are unsure about AI because it’s new. AI you can trust.

Uncertainty 98

Uncertainty Sales Risk Statistics 98

CIO Business Intelligence

FEBRUARY 20, 2025

In addition, they can use statistical methods, algorithms and machine learning to more easily establish correlations and patterns, and thus make predictions about future developments and scenarios. Most use master data to make daily processes more efficient and to optimize the use of existing resources.

Big Data 84

Big Data Measurement Visualization Machine Learning 84

CIO Business Intelligence

NOVEMBER 14, 2022

A DSS supports the management, operations, and planning levels of an organization in making better decisions by assessing the significance of uncertainties and the tradeoffs involved in making one decision over another. Commonly used models include: Statistical models. They emphasize access to and manipulation of a model.

Data mining 144

Data mining Data-driven Statistics OLAP 144

Data Science and Beyond

JANUARY 7, 2019

Bootstrap sampling techniques are very appealing, as they don’t require knowing much about statistics and opaque formulas. Instead, all one needs to do is resample the given data many times, and calculate the desired statistics. Don’t compare confidence intervals visually. Pitfall #1: Inaccurate confidence intervals.

Statistics 77

Statistics Uncertainty Testing Modeling 77

Smart Data Collective

SEPTEMBER 22, 2020

Statistics over time have proven that the firearms industry does exceptionally well under two conditions: right before a presidential election and during a national crisis. Likewise, when a national crisis emerges, people rush to buy firearms and ammunition out of fear, uncertainty, and preparedness. Currently, the U.S.

Big Data 127

Big Data Marketing Sales Manufacturing 127

CIO Business Intelligence

FEBRUARY 12, 2024

Such bleak statistics suggest that indecision around how to proceed with genAI is paralyzing organizations and preventing them from developing strategies that will unlock value. Even as organizations plan to boost spending on genAI in 2024. Even as organizations plan to boost spending on genAI in 2024.

IT 137

IT Consulting Cost-Benefit Uncertainty 137

Cloudera

DECEMBER 3, 2021

Systems should be designed with bias, causality and uncertainty in mind. Uncertainty is a measure of our confidence in the predictions made by a system. We need to understand and provide the greatest human oversight on systems with the greatest levels of uncertainty. System Design. Human Judgement & Oversight.

Uncertainty 102

Uncertainty Measurement Metrics Risk 102

Rocket-Powered Data Science

JULY 19, 2023

This was not a scientific or statistically robust survey, so the results are not necessarily reliable, but they are interesting and provocative. I recently saw an informal online survey that asked users which types of data (tabular, text, images, or “other”) are being used in their organization’s analytics applications.

Data-driven 188

Data-driven Enterprise Analytics Machine Learning 188

O'Reilly on Data

FEBRUARY 11, 2020

The responses show a surfeit of concerns around data quality and some uncertainty about how best to address those concerns. His insight was a corrective to the collective bias of the Army’s Statistical Research Group (SRG). Key survey results: The C-suite is engaged with data quality. The SRG could not imagine that it was missing data.

Data Quality 362

Data Quality Metadata Data Governance Publishing 362

CIO Business Intelligence

JUNE 28, 2022

More importantly, we also have statistical models that draw error bars that delineate the limits of our analysis. Good data scientists can also reduce some of this uncertainty through cleansing. People even spell their names differently from year to year, day to day, or even line to line on the same form.

Management 138

Management Internet of Things Data-driven Data Science 138

Sisense

OCTOBER 6, 2020

Most commonly, we think of data as numbers that show information such as sales figures, marketing data, payroll totals, financial statistics, and other data that can be counted and measured objectively. All descriptive statistics can be calculated using quantitative data. Digging into quantitative data. This is quantitative data.

Statistics 98

Statistics Unstructured Data Data-driven Visualization 98

CIO Business Intelligence

JANUARY 2, 2024

CIOs are readying for another demanding year, anticipating that artificial intelligence, economic uncertainty, business demands, and expectations for ever-increasing levels of speed will all be in play for 2024. But at the end of the day, it boils down to statistics. Statistics can be very misleading.

IT 144

IT Cost-Benefit Statistics Consulting 144

CIO Business Intelligence

AUGUST 14, 2023

Capitalizing on SAP’s in-memory database, the solution is renowned for meeting the exact challenges Huabao hoped to address navigating uncertainty and refining business results. Rise with SAP S/4HANA Cloud, Private Edition , an ERP tool for large enterprises, would be utilized as the digital core of the new platform.

Key Performance Indicator 98

Key Performance Indicator Sales Manufacturing KPI 98

CIO Business Intelligence

NOVEMBER 3, 2023

Women disproportionately affected by burnout For women, the statistics around burnout are even worse. Keeping in line with employees’ clear desire to have flexible work options, 43% also said that they valued remote work business allowances, to ensure they have all the necessary resources at home to effectively perform their jobs.

IT 133

IT Reporting Uncertainty Cost-Benefit 133

Perceptual Edge

APRIL 21, 2019

Seeing the actual data as well helps us keep in mind that statistical models are estimates, built on assumptions, which are never entirely true. So, to recap, noise in communication, including data visualization, is content that isn’t part of and doesn’t support the intended message or content that isn’t truthful.

Visualization 76

Visualization Statistics Uncertainty Modeling 76

Jen Stirrup

NOVEMBER 15, 2022

From a data science perspective, it is possible to begin immediately by framing problems regarding machine learning or statistical issues. VUCA stands for volatility, uncertainty, complexity, and ambiguity; these terms could be relevant to many data-based projects. Data strategy in a VUCA environment.

Data Science 145

Data Science Digital Transformation Data-driven Measurement 145

The Unofficial Google Data Science Blog

AUGUST 27, 2019

But importance sampling in statistics is a variance reduction technique to improve the inference of the rate of rare events, and it seems natural to apply it to our prevalence estimation problem. Statistical Science. Statistics in Biopharmaceutical Research, 2010. [4] High Risk 10% 5% 33.3% How Many Strata? 16 (2): 101–133. [3]

Metrics 98

Metrics Statistics Uncertainty Optimization 98

CIO Business Intelligence

NOVEMBER 27, 2023

Cybersecurity risks This one is no surprise, given the scary statistics on the growing number of cyberattacks, the rate of successful attacks, and the increasingly high consequences of being breached. Surveys show a mixed executive outlook, indicating a level of uncertainty about what to expect.

IT 138

IT Digital Transformation Reporting Finance 138

CIO Business Intelligence

JUNE 28, 2023

These circumstances have induced uncertainty across our entire business value chain,” says Venkat Gopalan, chief digital, data and technology officer, Belcorp. “As To address the challenges, the company has leveraged a combination of computer vision, neural networks, NLP, and fuzzy logic.

Digital Transformation 105

Digital Transformation Cost-Benefit Informatics Data mining 105

The Unofficial Google Data Science Blog

APRIL 23, 2024

If $Y$ at that point is (statistically and practically) significantly better than our current operating point, and that point is deemed acceptable, we update the system parameters to this better value. Crucially, it takes into account the uncertainty inherent in our experiments.

Experimentation 52

Experimentation Optimization Uncertainty Metrics 52

Insight

APRIL 10, 2020

Their latest placement and salary statistics are: 88% of Insight Fellows accept a job offer in their chosen field within 6 months of finishing the Fellows Program, and the median time to accept a job offer is 8 weeks. They work at over 700 companies across North America, with many of them working as heads of their teams.

Uncertainty 74

Uncertainty Statistics Machine Learning Publishing 74

The Unofficial Google Data Science Blog

JULY 22, 2020

For example, imagine a fantasy football site is considering displaying advanced player statistics. A ramp-up strategy may mitigate the risk of upsetting the site’s loyal users who perhaps have strong preferences for the current statistics that are shown. One reason to do ramp-up is to mitigate the risk of never before seen arms.

Experimentation 96

Experimentation Statistics Testing Knowledge Discovery 96

BI-Survey

MARCH 16, 2021

Markets and competition today are highly dynamic and complex, and the future is characterized by uncertainty – not least because of COVID-19. This uncertainty is currently at the forefront of everyone‘s minds. Satisfying customer needs and securing solvency in volatile markets both require quick decisions and decisive action. .

Forecasting 52

Forecasting Management Uncertainty Predictive Modeling 52

BI-Survey

MARCH 16, 2021

Markets and competition today are highly dynamic and complex, and the future is characterized by uncertainty – not least because of COVID-19. This uncertainty is currently at the forefront of everyone‘s minds. Satisfying customer needs and securing solvency in volatile markets both require quick decisions and decisive action. .

Forecasting 52

Forecasting Management Uncertainty Predictive Modeling 52

Jet Global

MAY 16, 2023

To adapt to continued market uncertainty, businesses need to be agile and resilient in order to ensure continued growth. Both statistics are alarming considering market uncertainty increases the demand for more frequent, more accurate forecasts and reporting.

Uncertainty 52

Uncertainty Finance Reporting Cost-Benefit 52

Jet Global

JUNE 21, 2023

This statistic will likely widen an already sizable skills gap as more financial professionals retire from the workforce. CEOs are increasingly partnering with CFOs to guide companies through this current uncertainty. Achieving predictability amidst uncertainty requires finance teams to enter a new stage of digital transformation.

Finance 52

Finance Uncertainty Reporting Digital Transformation 52

Perceptual Edge

JULY 22, 2019

You should describe the uncertainty of your findings. You should document the steps that you took, including the statistics that you used, and maintain the data that you produced during the course of your work. You should present your findings as comprehensively as necessary to enable the level of understanding that’s needed.

Sales 73

Sales Uncertainty Statistics Business Intelligence 73

IBM Big Data Hub

SEPTEMBER 28, 2023

For many businesses and organizations, this can introduce uncertainties that slow adoption of generative AI, particularly in highly regulated industries. will enable organizations to create synthetic tabular data that is pre-labeled and preserves the statistical properties of their original enterprise data.

Testing 87

Testing Finance Enterprise Modeling 87

The Unofficial Google Data Science Blog

APRIL 17, 2017

Quantification of forecast uncertainty via simulation-based prediction intervals. Prediction Intervals A statistical forecasting system should not lack uncertainty quantification. Journal of Official Statistics 6.1 Large-Scale Parallel Statistical Forecasting Computations in R ”, Google Research report. [8]

Forecasting 83

Forecasting Modeling Statistics Uncertainty 83

Insight

MAY 15, 2020

In this time of terrifying uncertainty, some might focus on their own career journey over others. Wishlists are especially off-putting to women, who statistically will only apply to job opportunities if they meet 100% of the listed requirements, versus men applying when they meet 60%. However, many are looking out for their colleagues.

Uncertainty 76

Uncertainty Data Science Statistics Marketing 76

BI-Survey

FEBRUARY 14, 2022

Overnight, the impact of uncertainty, dynamics and complexity on markets could no longer be ignored. Local events in an increasingly interconnected economy and uncertainties such as the climate crisis will continue to create high volatility and even chaos. The COVID-19 pandemic caught most companies unprepared.

Forecasting 52

Forecasting Uncertainty Measurement Cost-Benefit 52

The Unofficial Google Data Science Blog

JULY 11, 2017

SCOTT Time series data are everywhere, but time series modeling is a fairly specialized area within statistics and data science. They may contain parameters in the statistical sense, but often they simply contain strategically placed 0's and 1's indicating which bits of $alpha_t$ are relevant for a particular computation. by STEVEN L.

Forecasting 66

Forecasting Statistics Modeling Software 66

Jet Global

APRIL 12, 2023

With 66% of respondents seeing an increase in demand for operational reporting in 2022, it’s crucial that organizations invest in automating these processes to stabilize through economic uncertainty. Key findings include: Operational reporting costs 71% of IT departments, on average, 1 day per week, or $23,730 per year in salary costs.

Operational Reporting 52

Operational Reporting Finance Reporting IT 52

Occam's Razor

APRIL 8, 2013

Remember that the raw number is not the only important part, we would also measure statistical significance. They might deal with uncertainty, but they're not random. The result? The properties with professional photography had 2-3 times the number of bookings! Airbnb had enough data points to be confident in their results.

Metrics 157

Metrics Analytics KPI Key Performance Indicator 157

Peter James Thomas

AUGUST 12, 2018

Integrity of statistical estimates based on Data. Having spent 18 years working in various parts of the Insurance industry, statistical estimates being part of the standard set of metrics is pretty familiar to me [7]. The thing with statistical estimates is that they are never a single figure but a range. million ± £0.5

Metrics 49

Metrics Statistics Data Quality Measurement 49

The Unofficial Google Data Science Blog

MARCH 31, 2016

We often use statistical models to summarize the variation in our data, and random effects models are well suited for this — they are a form of ANOVA after all. In the context of prediction problems, another benefit is that the models produce an estimate of the uncertainty in their predictions: the predictive posterior distribution.

Modeling 40

Modeling Statistics Advertising Testing 40

Cloudera

MARCH 2, 2018

For example, applying machine learning to wind forecasting is expected to reduce uncertainty in wind energy production by more than 45% and will allow utilities to integrate wind more easily with traditional forms of power supply.

Data-driven 43

Data-driven Prescriptive Analytics Machine Learning Descriptive Analytics 43