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Statistical Application in R & Python: EXPONENTIAL DISTRIBUTION

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Statistical Application in R & Python: EXPONENTIAL DISTRIBUTIONStatistical Application in R & Python: EXPONENTIAL DISTRIBUTION

In this blog, we will explore the Exponential distribution. We will begin by questioning the “why” behind the exponential distribution instead of just looking at its PDF formula to calculate probabilities. If we can understand the “why” behind every distribution, we will have a head start in figuring out its practical uses in our everyday business situations.

Much could be said about the Exponential distribution. It is an important distribution used quite frequently in data science and analytics. Besides, it is also a continuous distribution with one parameter “λ” (Lambda). Lambda as a parameter in the case of the exponential distribution represents the “rate of something”. Essentially, the exponential distribution is used to model the decay rate of something or “waiting times”.

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For instance, you might be interested in predicting answers to the below-mentioned situations:

  • The amount of time until the customer finishes browsing and actually purchases something in your store (success).
  • The amount of time until the hardware on AWS EC2 fails (failure).
  • The amount of time you need to wait until the bus arrives (arrival).

In all of the above cases if we can estimate a robust value for the parameter lambda, then we can make the predictions using the probability density function for the distribution given below:

Application:-

Assume that a telemarketer spends on “average” roughly 5 minutes on a call. Imagine they are on a call right now. You are asked to find out the probability that this particular call will last for 3 minutes or less.

 

 

Below we have illustrated how to calculate this probability using Python and R.

Calculate Exponential Distribution in R:

In R we calculate exponential distribution and get the probability of mean call time of the tele-caller will be less than 3 minutes instead of 5 minutes for one call is 45.11%.This is to say that there is a fairly good chance for the call to end before it hits the 3 minute mark.

Calculate Exponential Distribution in Python:

We get the same result using Python.

Conclusion:

We use exponential distribution to predict the amount of waiting time until the next event (i.e., success, failure, arrival, etc).

Here we try to predict that the probability of the mean call time of the telemarketer will be less than 3 minutes instead of 5 minutes for one call, with the help of Exponential Distribution. Similarly, the exponential distribution is of particular relevance when faced with business problems that involve the continuous rate of decay of something. For instance, when attempting to model the rate with which the batteries will run out. 

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Hopefully, this blog has enabled you to gather a better understanding of the exponential distribution. For more such interesting blogs and useful insights into the technologies of the age, check out the best Analytics Training institute Gurgaon, with extensive Data Science Courses in Gurgaon and Data analyst course in Delhi NCR.

Lastly, let us know your opinions about this blog through your comments below and we will meet you with another blog in our series on data science blogs soon.

 

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Alteryx is Inclined to Make Things Easy

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Alteryx is Inclined to Make Things Easy

Alteryx Analytics is primarily looking to ease the usability of the platform in all of the updates that are yet to come. The esteemed data analytics platform is concentrating on reducing the complexities to attract more users and thus, widen their age-old user base beyond that of the data scientists and data analytics professionals.

Alteryx is headquartered in Irvine, California. It was founded as SRC LLC in 1997 and comes with a suite of four tools to help the world of data scientists and data analysts to manage and interpret data easily. Alteryx Connect, Alteryx Designer, Alteryx Promote and Alteryx Server are the main components of the analytics platform of Alteryx. Thus, it is worth mentioning that the Alteryx Certification Course is a must if you are looking to make a career out of data science/data analytics.

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A Quick Glance at the Recent Updates 

The reputed firm launched a recent version of Alteryx 2019.3, in October, and is likely to release the Alteryx 2019.4 as a successor to it. The latter is scheduled for a December release.

What’s in the Update?

Talking about the all-new version Alteryx 2019.3, Ashley Kramer, senior vice president of product management at Alteryx, said that the latest version promises 25 new and upgraded features, all of them focussing on the user-friendliness of the platform at large.

One of the prominent features of the new version is a significant decrease in the total number of clicks that a user will take to arrive at the option of visualizing data to make analytic decisions.

Data profiling helps the users to visualize the data while they are working with it. Here, Alteryx discovered a painless way to work with data by modeling the bottom of the screen in a format similar to that of MS Excel.

All of these changes and additions are done keeping in mind the features that the “customers had been asking for,” according to Kramer.

Now, with the December update, which will come with an enhanced mapping tool, the Alteryx analytics will strive to further lower the difficulties surrounding the platform.

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If you are interested in knowing all the latest features, it is better to join one of the finest AlterYX Training institutes in Delhi NCR, with exhaustive Analytics Courses in Delhi NCR, along with other demanding courses like Python for Data Analysis, R programming courses in Gurgaon, matchless course of Big Data, Data Analytics and more.

 
The blog has been sourced from ― searchbusinessanalytics.techtarget.com/news/252474294/Alteryx-analytics-platform-focuses-on-ease-of-use
 

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Machine Learning in the Healthcare Sector

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Machine Learning in the Healthcare Sector

The healthcare industry is one of the most important industries when it comes to human welfare. Research analysis from the U.S. federal government actuaries say that Americans spent $3.65 trillion on health care in 2018(report from Axios) and the Indian healthcare market is expected to reach $ 372 billion by 2022. To reduce cost and to move towards a personalized healthcare system, the industry faces three major hurdles: –

1) Electronic record management
2) Data integration
3) Computer-aided diagnoses.

Machine learning in itself is a vast field with a wide array of tools, techniques, and frameworks that can be exploited and manipulated to cope with these challenges. In today’s time, Machine Learning Using Python is proving to be very helpful in streamlining the administrative processes in hospitals, map and treat life-threatening diseases and personalizing medical treatments.

This blog will focus primarily on the applications of Machine learning in the domain of healthcare.

Real-life Application of Machine learning in the Health Sector

  1. MYCIN system was incepted at Stanford University. The system was developed in order to detect specific strains of bacteria that cause infections. It proposed a good therapy in 69% of the cases which was at that time better than infectious disease experts.

  2. In the 1980s at the University of Pittsburgh, a diagnostic tool named INTERNIST-I was developed to diagnose symptoms of various diseases like flu, pneumonia, diabetes and more. One of the key functionalities of the INTERNIST-I was to be able to detect the problem areas. This is done with a view of being able to remove diagnostics’ likelihood.

  3. AI trained by researchers from Pennsylvania has been developed recently which is capable of predicting patients who are most likely to die within a year. This is assessed based on their heart test results. This AI is capable of predicting the death of patients even if the figures look quite normal to the doctors. The researchers have trained the AI with 1.77 million electrocardiograms (ECG) results. The researchers have made two versions of this Al: one with just the ECG data and the other one with ECG data along with the age and gender of the patients.
  4. P1vital’s PReDicT (Predicting Response to Depression Treatment) built on the Machine Learning algorithms aims to develop a commercially feasible way to diagnose and provide treatment of depression in clinical practice.
  5. KenSci has developed machine learning algorithms to predict illnesses and their cure to enable doctors with the ability to detect specific patterns and indicators of population health risks. This comes under the purview of model disease progression.
  6. Project Hanover developed by Microsoft is using Machine Learning-based technologies for multiple purposes, which includes the development of AI-based technology for cancer treatment and personalizing drug combination for Acute Myeloid Leukemia (AML).
  7. Preserving data in the health care industry has always been a daunting task. However, with the forward-looking steps in analytics-related technology, it has become more manageable over the years. The truth is that even now, a majority of the processes take a lot of time to complete.

    8. Machine learning can prove to be disruptive in the medical sector by automating processes relating to data collection and collation. This is highly profitable in terms of cost-effectiveness. Newer algorithms such as Vector Machines or OCR recognition are designed to automate the task of document reading and classification with high levels of precision and accuracy.

  8. PathAI’s technology uses machine learning to help pathologists make faster and more accurate diagnoses. Furthermore, it also helps in identifying patients who might benefit from a new and different type of treatments or therapies in the future.

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To Sum Up:

As the modern technologies of Machine Learning, Artificial Intelligence and Big Data Analytics are tottering forth in multiple domains, there is a long path they need to walk to ensure an unflinching success. Besides, it is also important for every one of us to be accustomed to all these new-age technologies.

With an expansion of the quality Machine Learning course in India and Neural Network Machine learning Python, all the reputed institutes are joining hands together to bring in the revolution. The initial days will be slow and hard, but it is no doubt that these cutting edge technologies will transform the medical industry along with a range of other industries, making early diagnoses possible along with a reduction of the overall cost. Besides, with the introduction of successful recommender systems and other promises of personalized healthcare, coupled with systematic management of medical records, Machine Learning will surely usher in the future for good! 

 


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An All-Inclusive Guide on Python and its Changing Trends

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An All-Inclusive Guide on Python and its Changing Trends

Python is an extremely readable and versatile high-level programming language. Many companies such as Google, YouTube, Dropbox use the language for developing applications. It also finds its use extensively in diverse fields as in Python for data analysis, Machine Learning Using Python, Natural Language Processing, Web Development, Scientific Computing, Image processing, Robotics, Computer Vision and many more.

It supports both Object-oriented programming and Functional programming. Python is generally referred to as an interpreted language which implies that each line of code is executed one by one and if the interpreter finds an error, it stops immediately with an error message on the screen.

Another important feature of Python is its interactive prompt. A Python statement can be typed and immediately executed, which is in sharp contradiction to any other compiled language.

What are Python 2.x and Python 3.x?

There are two main versions of Python: Python 2.x and Python 3.x. If someone is new to Python, then he/she might be in confusion about which version to use. However, in the current scenario, we can easily migrate from Python 2 to Python 3, as the Python Software Foundation has finally taken the step to formally announce that Python 2 will reach the end of life (EOL) on January 1st, 2020.

Key differences between Python 2.x and Python 3.x

This article discusses the differences between these two versions of Python, making Python 3 less confusing for a new programmer.

  1. Print Function

In Python 2, print is a statement. There is no need of parenthesis.

In Python 3, print is a function. It needs parenthesis.

  1. Integer Division

In Python 2, if the division operator is performed on two integers, then the output will be an integer for example: – 7/3 = 2.

In Python 3, if the division operator is performed on two integers, then the output will be accurate. It can also be in float for example: – 7/3 = 2.33.

To get the result in an integer only a different division operator is used that is (//) it returns an integer result for example, – 7//3 = 2.

 3. Unicode Support

Both the versions of Python can handle strings (sequences of characters) differently.

Python 2 uses the ASCII encoding standard by default. ASCII is limited to representing 256 characters. This limits the flexibility of Python to encode the characters, particularly non-standard ones. Using Unicode in Python 2 requires extra syntax—for example when using print, the input text is to be wrapped in the Unicode() function to handle special characters.

In Python 3, Unicode is the default. The Unicode standard is much more versatile—it supports over 128,000 characters. There is no need for an extra syntax to define the Unicode values—they get printed automatically as utf-8 strings.

  1. Range Function

In Python 2, the range function returns a list of numbers.

In Python 2, the xrange class represents an iterable that provides the same object.

 In Python 3, original range function is removed and xrange is renamed to range:

In Python 3, it is needed to convert the range object to a list if someone desires the same result as the range function provides in Python 2.

  1. ­­­­Input() Method

Mainly what is expected from the input() method is that it reads input as string, then it can be converted into any datatype as per the requirement.

In Python 2, it has both the input() and raw_input() methods for taking input. The difference between the raw_input() and input()is that the raw_input() reads input as a string while the input() reads input as string only if it is inside quotes else reads as an integer.

In Python 3, there is no raw_input() method. The raw_input() method is replaced by input() in python 3. 

If someone still wants to use the input() method like in python 2, then it can be availed by using eval() method.

There are many other differences between Python 2 and Python 3 like: –

  1. Next() Method

In Python 2, .next() method is used and in Python 3 next() function is used to iterate the next element of an iterator.

  1. Raising Exception

To raise an exception in Python 3, the argument should be in parenthesis, while in Python 2, it is not necessary.

  1. Handling Exception

Handling exception is also changed in Python 3, “as” keyword is used in Python 3, while it is not necessary in Python 2.

So, if someone is a beginner, then it is strongly recommended to use Python 3 because it is the future of Python and also January 1, 2020, will be the last day of Python 2. It means that no improvement will be done anymore after that day, even if someone finds a security problem in it.

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It is highly recommended to upgrade the version of the programming language to Python 3. Some ways can help the Python 2 users in porting their code from Python 2 to Python 3 and get the feel of Python 3 and figure out how it is different from Python 2. The code can be imported by using tools like “Futurize” and “Modernize”. Also, if someone wants to check the availability of Python 3 as part of his tests, then “caniusepython3.check()” can be used.

As a final note, everyone must look for upgrading their Python version to Python 3 to understand the subtleties of the new version and usher in the future. However, if you are interested in Deep learning for computer vision with Python and similar courses, then opt for the premium Python training institute in Delhi now!


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Deep Learning and its Progress as Discussed at Intel’s AI Summit

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Deep Learning and its Progress as Discussed at Intel’s AI Summit

At the latest AI summit organized by Intel, Mr. Naveen Rao, Vice President and General Manager of Intel’s AI Products Group, focused on the most vibrant age of computing that is the present age we are living. According to Rao, the widespread and sudden growth of neural networks is putting the capability of the hardware into a real test. Therefore, we now have to reflect deeply on “how processing, network, and memory work together” to figure a pragmatic solution, he said.

The storage of data has seen countless improvements in the last 20 years. We can now boast of our prowess of handling considerably large sets of data, with greater computing capability in a single place. This led to the expansion of the neural network models with an eye on the overall progress in neural Network Machine Learning Python and computing in general.

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With the onset of exceedingly large data sets to work with, Deep learning for Computer Vision Course and the other models of Deep Learning to recognize speech, images, and text are extensively feeding on them. The technological giants were undoubtedly the early birds to grab the technical: the hardware and the software configuration to have an edge on the others.  

Surely, Deep Learning is on its peak now, where computers can identify the images with incredible vividness. On the other hand, chatbots can carry on with almost natural conversations with us. It is no wonder that the Deep learning Training Institutes all over the world are jumping in the race to bring all of these new technologies efficiently to the general mass.

The Big Problem

We are living in the dynamic age of AI and Machine Learning, with the biggies like Google, Facebook, and its peers, having the technical skills and configuration to take up the challenges. However, the neural networks have fattened up so much lately that it has already started to give the hardware a tough time, getting the better of them all the time.

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The number of parameters of the Neural network models is increasing as never before. They are “actually increasing on the order of 10x year on year”, as per Rao. Thus, it is a wall looming in AI. Though Intel is trying its best to tackle this obvious wall, which might otherwise give the industry a severe setback, with extensive research to bring new chip architectures and memory technologies into play, it cannot solve the AI processing problem single-handedly. Rao concluded on a note of requesting the partners in the present competitive scenario.

 

Sourced from: www.datanami.com/2019/11/13/deep-learning-has-hit-a-wall-intels-rao-says

 

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Credit Risk Modeling: A Comprehensive Guide

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Credit Risk Modeling: A Comprehensive Guide

Credit Risk Modeling is the analysis of the credit risk of a borrower. It helps in understanding the risk, which a lender may face when he offers a credit.

What is Credit Risk?

Credit risk is the risk involved in any kind of loan. In other words, it is the risk that a lender runs when he lends a sum to somebody. It is thus, the risk of not getting back the principal sum or the interests of it on time.
Suppose, a person is lending a sum to his friend, then the credit risk models will help him to assess the probability of timely payments and estimate the total loss in case of defaulters.

Credit Risk Modelling and its Importance

In the fast-paced world of now, a loss cannot be afforded at any cost. Here’s where the Credit Risk Modeling steps in. It primarily benefits the lenders by accurate approximation of the credit risk of a borrower and thereby, cutting the losses short.

Credit Risk Modelling is extensively used by financial institutions around the world to estimate the credit risk of potential borrowers. It helps them in calculating the interest rates of the loans and also deciding on whether they would grant a particular loan or not.

The Changing Models for the Analysis of Credit Risks

With the rapid progress of technology, the traditional models of credit risks are giving way to newer models using R and Python. Moreover, credit risk modeling using the state-of-the-art tools of analytics and Big Data are gaining huge popularity.

Along with the changing technology, the advancing economies and the successive emergence of a range of credit risks have also transformed the credit risk models of the past.

What Affects Credit Risk Modeling?

A lender runs a varying range of risks from disruption of cash flows to a hike in the collection costs, from the loss of interest/interests to losing the whole sum altogether. Thus, Credit Risk Modelling is paramount in importance at this age we are living. Therefore, the process of assessing credit risk should be as exact as feasible.

However, in this process, there are 3 main factors that regulate the risk of the credit of the borrowers. Here they are:

  1. The Probability of Default (PD) – This refers to the possibility of a borrower defaulting a loan and is thus, a significant factor to be considered when modeling credit risks. For the individuals, the PD score is modeled on the debt-income ratio and existing credit score. This score helps in figuring out the interest rates and the amount of down payment.
  2. Loss Given Default (LGD) – The Loss Given Default or LGD is the estimation of the total loss that the lender would incur in case the debt remains unpaid. This is also a critical parameter that you should weigh before lending a sum. For instance, if two different borrowers are borrowing two different sums, the credit risk profiles of the borrower with a large sum would vary greatly to the other, who is borrowing a much smaller sum of money, even though their credit score and debt-income ratio match exactly with each other.
  3. Exposure at Default (EAD) – EAD helps in calculating the total exposure that a lender is subjected to at any given point in time. This is also a significant factor exposing the risk appetite of the lender, which considerably affects the credit risk.

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Endnotes

Though credit risk assessment seems like a tough job to assume the repayment of a particular loan and its defaulters, it is a peerless method which will give you an idea of the losses that you might incur in case of delayed payments or defaulters.

 


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8 Amazing Things That Artificial Intelligence Can Do

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8 Amazing Things That Artificial Intelligence Can Do

AI plays a crucial role in our everyday lives. By now, we are aware of AI’s glaring significance in our very existence. Nevertheless, you would be surprised to know that AI has already imbibed some of the skills that we, humans, possess. Ahead, we’ve 8 incredible skills that AI has learnt over the years:

Read

Wondering how to summarize all those kilobytes of information? AI-powered SummarizeBot is the answer. Whether its books, news articles, weblinks, audio/image files or legal documents, ATS (automatic text summarization) reads everything and records the important information. Natural Language Processing (NLP), artificial intelligence, machine learning and blockchain technologies are in play here.  

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Write

Did you know that myriad news enterprises and seasoned journalists rely on AI to write? The New York Times, Reuters, Washington Post and more have turned to artificial intelligence to craft interesting reading pieces. Also, AI is expected to enhance the process of creative writing as well.  Even, it has generated a novel that was shortlisted for a prestigious award.

See

Machine vision is in the hype. It is implemented in different ways in today’s world, such as facilitating self-driven cars, facial recognition for payment portals, police work and more. The main concept of machine vision is to let the computers ‘visualize’ the world, analyze key data and make decisions thereafter.

Speak

We are fortunate enough to have Google Maps and Alexa to give us directions and respond to our queries but Google Duplex takes it to a whole new level, courtesy AI. With the help of this robust technology, Duplex can schedule appointments and finish tasks on phone in a very interactive language. It can also respond perfectly to human behaviors.

Hear and Understand

Detecting gunshots and alerting to-the-purpose agencies is one of the greatest things achieved by AI. It means AI can hear and understand sound. It is very well evident in how digital voice assistants respond to your queries regarding weather or a day’s agenda. Working professionals simply love the efficiency, accuracy and convenience of automated meeting minutes provided by AI.

Touch

With the help of cameras and sensors, a robot can identify and handpick ‘supermarket ripe’ blueberries and put them in your basket. The creator of the robot even asserts that it is designed to pick one blueberry every 10 seconds for 24 hours a day!

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Smell

A team of AI researchers are at present developing robust AI models that can detect illnesses – simply by smelling. The model is designed in such a way so that it can notice chemicals, known as aldehydes that cause human stress and diseases, including diabetes, cancer and brain injuries. AI bots can even identify other caustic chemicals or gas leaks. Of late, IBM is using AI to formulate new perfumes.

Perceive Emotions

Today, AI tools can observe human emotions and track them down as one watches videos. Artificial emotional intelligence can collect meaningful data from a person’s facial expressions or body language, analyze it to determine what emotion he/she is likely to express and then ascertain an action base on that detail.

For more such interesting updates, follow DexLab Analytics. Our Machine Learning Using Python course is a bestseller. To know more, click here <www.dexlabanalytics.com>

 

This post originally appeared on – www.forbes.com/sites/bernardmarr/2019/11/11/13-mind-blowing-things-artificial-intelligence-can-already-do-today/#2777e5ec6502

 

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Machine Learning Jobs in 2019: Freezing your own Job

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Machine Learning Jobs in 2019: Freezing your own Job

Machine Learning surely needs no introduction. Joining forces with Data Science and Big Data, Machine Learning is one of the principal technologies, which is carving the future for us. From self-propelled cars to voice assistants, to surgical robots, Artificial Intelligence is already amongst us.

Besides, with this cutting-edge technology, marketing is also witnessing a fresh bloom, irrespective of the field you are working on. Thus, it is obvious that the career opportunities have quickly and radically shifted in the way of the candidates who are well-versed with Machine Learning platforms and languages. If you are also looking forward to shooting your career up, the premium Machine Learning course in India is the place you should reach now!

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Learning Machine Learning is No More a Pain Now!

Whether you are a professional or a fresher planning your way to be successful as a Machine Learning professional, you must ensure that you are updated. Besides, you should also be careful that you have certain skills in your grip that you can work on!

However, if you are not aware of them still, here are the skills that you need to focus on to rest assured:

Programming Languages

As you speak English and/or your regional languages accepted to your society in order to communicate comprehensibly, you also need to be well-versed with the languages specific to Machine Learning.

In a nutshell, R programming certification and Machine Learning Using Python are undoubtedly the most significant ones when it comes to Machine Learning.

Data Modeling

If you believe that you can already boast of considerable knowledge of R & Python, then you shall extend your knowledge a bit more towards the advanced methods of analysis. Brief know how of the coding structures, Data Modeling and Data Visualization will help you steer your career forwards.

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Statistics and Probability

If you are seeking to make a career out of Machine Learning, it is important to note that you should have a good grip of statistics and probability. Now, with the thorough courses of Python for Data Analysis along with extensive knowledge of statistics and probability from Dexlab Analytics, it will be easier than ever.

Besides all these, you also need to grasp significant insights into the improved algorithms and clustering methods. 

 

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The Future of AI and Machine Learning: What the Experts Say?

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The Future of AI and Machine Learning: What the Experts Say?

It’s hard to ignore the growing prowess of AI and machine learning.

Previously, Gartner predicted that AI will become one of the key priorities for more than 30% C-Suite professionals by 2020. Indeed, it’s true; software vendors across the globe are following this new gold rush. For them, data is like new oil. In this blog, we explore the future of this budding technology and gain some new insights and ideas. Let’s see what the heavyweights from the digital industry have to say:

Hyper-targeting and Personalization

Ben Wald, Co-Founder & VP of Solutions Implementation at Very

Though machine learning is a subset of data analysis, it’s rapidly influencing the IoT industry and its respective devices. In the last couple of years, nearly 90% of data was generated through an array of smartphones, watches and cars. These mountains of data help in forming better customer relationships.

How? Using Machine Learning Using Python of course! With this power tool, the corporate houses are trying to understand their target audience and extract crucial information regarding how well they receive their products and related after-sales services. Fine-tuning personalization on a wider scale is the key. Hopefully, soon, we will be able to achieve this goal. We are still in the nascent stage.

Improved Search Engine Experiences

Dorit Zilbershot, Chief Product Officer at Attivio

Did you know that AI algorithms have a massive impact on search engine results?

In the next few years, search engines are expected to enhance user and admin experience: courtesy breakthroughs in neural networks and deep learning technologies. These revolutionary technologies, especially deep learning for computer vision with Python will make sure users enjoy a fabulous searching experience and will deliver highly relevant answers. Currently, we are working on delivering results that are based on user’s query and profile. The process requires a lot of manual configurations and a fundamental understanding of how search engines work. Later, the results will be customized based on individuals’ past preferences, interactions and words used. It will be fun to see how machine learning algorithms transform the dynamo of content publishing and search engines.

Quantum Computing

Matt Reaney, Founder & CEO of Big Cloud

Real and revolutionary, the concept of quantum computing is wreaking havoc in the domain of science and technology. It is the future of machine learning triggering an array of innovations. Integrating quantum computing with machine learning is expected to transform the field triggering accelerated learning, quicker processing and better capabilities. This means the intricate challenges that we can’t solve now could be done in a fraction of time then.

The potential of quantum computing is huge in the future and is likely affect millions of lives, notably in medicine and healthcare industry.

Currently, there are no commercially-built quantum algorithms or hardware available in the market. However, several research facilities and government agencies have been investing in this new field of science of late.

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End Notes

At DexLab Analytics, we love to craft and curate insights from industry pundits, especially when it comes to something as significant as technological innovations that transform lives altogether. Follow us and stay updated!

 


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