Solving business problems using big data depends upon the approach taken. For example, if an organization only knows data warehouses, then challenges will be framed to fit using a data warehouse. As Abraham Maslow, a prominent psychologist eloquently said “I suppose it is tempting, if the only tool you have is a hammer, to treat […]
What Is the Karl Pearson Correlation and How Is It Useful for Enterprise Analysis?
Click to learn more about Kartik Patel. This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business. Correlation is a statistical measure that indicates the extent to which two variables fluctuate together. A positive correlation indicates the extent to which those variables increase or decrease in parallel. A […]
Data Science and AI Use Cases
A business use case is generally defined as a sequence of business actions that lead to a predetermined, value-added outcome. Data Flair shares the Top 6 Data Science Use Cases slated to bring in another industrial revolution. From banking to transportation in the physical business world, and from social media to e-commerce on the digital business […]
What Is Data Security?
Data security describes the implementation of policies and procedures to ensure people and things take the right actions with data and information assets, even in the presence of malicious inputs. The right actions mean controlling and enabling data activity by balancing needs from: Stakeholders: Protect personal information while allowing access for legitimate transactions agreed upon […]
What Is Naïve Bayes Classification and How Is It Used for Enterprise Analysis?
Click to learn more about author Kartik Patel. What Is Naïve Bayes Classification? Naive Bayes is a classification algorithm that is suitable for binary and multiclass classification. It is a supervised classification technique used to classify future objects by assigning class labels to instances/records using conditional probability. In supervised classification, training data is already labeled with […]
The Importance of Data Science and Analytics in the Finance Industry
Click to learn more about author John Russell. It is estimated that by the end of 2020, there were approximately 40 zettabytes (40 trillion gigabytes) of data in the world. If it feels a bit difficult to wrap your head around that number, don’t worry – you are not alone! It is a truly staggering […]
A Brief History of Data Literacy
Data Literacy is essentially the ability to read and understand data, much as one might read and understand a magazine article. The primary advantage of having the bulk of the staff made up of people who are data literate is that it reduces the need for data scientists. People on staff can handle many of […]
Case Study: Crown College Uses Predictive Analytics to Retain At-Risk Students
Crown College in St. Bonifacius MN embraced a five-year persistence and completion project four years ago. The college’s Presidents’ Cabinet embraced persistence and completion as an improvement initiative to retain at-risk students and the school had been accepted into the Higher Learning Commission (HLC) Persistence and Completion Academy. HLC accredits colleges and universities in a […]
The Need for Flexible Data Management: Why Is Data Flexibility So Important?
Click to learn more about author David Leivesley. We live in an era of big data. Amazingly, statistics show that around 90 percent of this data is only two years old. That indicates that businesses, moving forward, will need to anticipate using more and more of it. However, Data Management and structuring are notoriously complex. […]
The Independent Samples T-Test Method and How it Benefits Organizations
Click to learn more about author Kartik Patel. The independent sample t-test is a statistical method of hypothesis testing that determines whether there is a statistically significant difference between the means of two independent samples. For example, one might use this method of analysis to determine whether the average value of a sedan type of car […]