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Stay Home and Upskill to Beat the Impact of a Global Recession

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Stay Home and Upskill to Beat the Impact of a Global Recession

The US economy, as it was officially announced by the United States National Bureau of Economic Research on June 8, entered a recession in February after hitting a peak of economic activity and growth. This is the first time the US economy has undergone a recession since the global financial crisis of 2008-09, says a report.

In the US alone, 19.6 lakh cases of covid-19 positive patients have been reported till date with 1.1 lakh cases of deaths recorded, the highest for any country in the world. In such a dire situation, the silver lining seems to be the fact that this recession, intensified by the lockdown that the country has imposed on itself to abate the spread of the disease, might be deep but short lived, The New York Times reported.

Irrespective of when the recession will end, poverty levels have already begun spiking the world over. The World Bank has said that, “the highest share of countries in 150 years would enter recessions at the same time. As many as 90% of the 183 economies () examined are expected to suffer from falling levels of gross domestic product (GDP) in 2020, even more than the 85% of nations suffering from recession during the Great Depression of the 1930s”, The Guardian reported.

This will lead to dramatic rise in levels of poverty the world over. However, India might fare better on the global front for more reasons than one. Some economists feel “the (Indian) economy may do better than some other developing economies, which are heavily dependent on world trade” because of “lower dependence on exports (that) means less exposure to the decline in world trade. This and the low price of crude oil, our biggest import, may mean that we don’t suffer an external shock”.

In such circumstances, it is advisable that you stay home and not despair. Doing nothing but fretting will only add to your woes and not help the situation. Neither will binge-watching web series help. Instead, what you can do is ready yourself for a post COVID-19 world. You can do this by primarily upskilling yourself i.e.upgrading your skill set.

The only way to do this is remotely, though online classes available by the dozen. In fact, celebrities like Shakira have begun taking online classes (she in ancient philosophy) this lockdown while others like director Kevin Smith have finished old pending projects. The best skills to upgrade would, however, be those pertaining to computer science courses like big data, machine learning, deep learning or even credit risk modelling. These high-in-demand courses will look good on your résumé and instantly add to your employability wherever you plan to move to next.

Data Science Machine Learning Certification

In India, DexLab Analytics, a premier institute offering some of the best credit risk modelling training courses and R programming courses in Gurgaon, suggests you try and learn a new programming language or enrol in a new business analytics course so your résumé stands stronger than it was before the lockdown. This will help you beat competition when you will be searching for work opportunities post the lockdown.

 


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Bayes’ Theorem – Application in R and Python

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Bayes’ Theorem – Application in R and Python

Bayes’ theorem, named after 18th century (1763) British mathematician Thomas Bayes, is a mathematical formula for determining conditional probability.  In the discussion of conditional probability we indicated that revising probability when new information is obtained is an important phase of probability analysis. Often, we begin our analysis with initial or prior probability estimates for specific events of interest. Then, from sources such as a sample, a special report, a product test, etc we obtain some additional information about the events. Given this new information, we update the prior probability values by calculating revised probabilities, referred to as posterior probabilities.

The steps involved in this probability revision process are depicted in the digram below:

  • Theorem:

An event A can occur only if one of the mutually exclusive and exhaustive set of events B1, B2,… ,Bn occurs. Suppose that the unconditional probabilities

And the conditional probabilities

are known. Then the conditional probability of a specified event Bi, when A is stated to have actually occurred, is given by

This is known as Bayes’ Theorem.

  • Proof:

An event A can happen in mutually exclusive ways, B1 A, B2A,… Bn A, i.e. either when has occurred, or. So by the theorem of total probability

 

Again,

Since the events ABi and BiA are equivalent, their probabilities are also equal.

Hence

So that

Substituting for P(A) from above, the theorem is proved.

Equation (1) is also known as “Bayes” formula for calculating probabilities of hypothesis. Because B1, B2,…Bn may be considered as hypothesis which account for the occurrence of A. The probabilities P(B1),P(B2 ),…P(Bn) are called ‘a prior’ probabilities of the hypothesis.

While are known as a‘a posteriori’ probabilities of the same hypothesis.

Data Science Machine Learning Certification

For more on this, do peruse the Dexlab Analytics website today. Dexlab Analytics is a premiere institute for R programming courses in Gurgaon.

 


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R Vs Python: A Debate Forever

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R Vs Python: A Debate Forever

In this blog, we will bring forth the age old question and check which one is better, R programming and Python programming, when it comes to data science?

To be very honest, this question does not have a strict answer to it. However, in this blog we will lay down the key components of both the languages to give you a clearer picture. In the end, please decide for yourself and leave your comments in the section below.

The aim of this blog is to objectively put forward the pros and cons of both languages strictly from the perspective of data science.

We will discuss only about three main components, which are as follows:

  • Syntax
  • Performance
  • Applicability

There are other metrics, such as, trends in Industries and adaptation in the recent years which are beyond the scope of this blog. However, you can safely declare Python as the clear winner if those perspectives were concerned.

So let’s get started:

Syntax

Both R and Python are object-oriented languages. This is to say that everything is created as an object in which the information is mapped with the idea of using that object later in the analysis. However, when it comes to the syntax, i.e., the grammar of programming, R and Python are indeed very different.

R Programming

R programing is more suited to more seasoned coders who have prior experience of coding. The syntax is actually very similar to that of the previous languages, such as C, or C++ or Java and so on. The fundamental rules are that of C programming language. Also, use of semicolons is deemed optional in R. However, semicolons are necessary for multiple lines in a code inside a code block.

Deep Learning and AI using Python

Python

Python on the other hand, is the language more adaptable to the new generation of programmers. You can come from a non-programming background and still learn Python with relative ease.

Python is one of the most user friendly languages for the beginners. The syntax is designed to prioritize readability over preciseness of the code. In layman’s terms – coding in Python is very close to reading and writing with hand. In this regard, it is really popular amongst beginners in Data Science.

Performance

The performance is essentially measured by speed essentially when it comes to programming.

R Programming

As far as the general consensus goes R programming is much slower in terms of speed. The reason behind this is that R programming was initially designed to be used by statisticians for data analysis. Thus, R programming stresses more on precision than the speed.

Python

Python on the other hand, is relatively faster than R. Python offers the same level of precision whilst acting on a faster speed.

Note – The speed is taken into account independent of packages and libraries.

Applicability

Lastly, we will discuss the popular domains in which these languages are used.

2

R Programming

As mentioned above, R was developed specifically for statisticians. For this reason, R is mainly used in various research organizations and academia in general. However, R is now quickly being absorbed in the enterprises as well, mainly because of its popularity and the availability of a large number of packages for statistical computation.

Python

Python is a gene

As Python is a general-purpose programming language we can use to build different kinds of applications. We can use Python to build web applications using popular frameworks like Django or Flask.

Lately, Python is becoming popular amongst data scientists as the language of choice given the simplicity of syntax, high speed and performance it has to offer. There has been a trend which has seen a sharp rise in the adaptability of Python over R in the last few years in Data Science.

So, there you have it folks. Decide for yourself now! We will meet you soon in the next blog.

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Statistical Application in R and Python: Calculating Binomial Distribution

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Statistical Application in R and Python: Calculating Binomial Distribution

In this blog, we will take a look at the Binomial distribution. This blog is among the series of blogs through which you’ll have a vivid idea of the Statistical Application using R and Python. Statistical Application In R & Python: Chapter 1 – Measure Of Central Tendency is the first of such blogs.

The binomial distribution is an extension of the Bernoulli distribution. In Bernoulli, we have only one parameter, i.e. the probability of success.

Now, consider a case where we have “n” number of trials and we want to predict the probability of success from it. This is the Binomial case.

Binomial distribution has two parameters, i.e.: number of trails (n) AND probability of success (p). The mean of the binomial is a product of its two parameters, i.e. n multiplied by p. It is a discrete probability distribution. Here, each trial is assumed to have only two outcomes, either success or failure.

If X be a discrete random variable (taking only non-negative values), it is said to be following binomial distributions with a probability mass function as:-


Application:

A food shop starts a offer for a festive season, They have 12 different baskets, each basket has 5 combos and only 1 of them is non-veg. Find the probability of having 4 or less non-veg combos, if a consumer tries every combos at random.

Since, only 1 out of 5 combos is non-veg, the probability of choose a non-veg combos by random is 1/5 = 0.2

Calculate Binomial Distribution in R:

In R the probability of one non-veg combos choose by random in 5 is 13.28%, whereas the probability of four or less combos choose by random in a twelve baskets is 92.44%

Calculate Binomial Distribution in Python:

In Python the probability of one non-veg combos choose by random in 5 is 16.66%.

Conclusion:-

Binomial Distribution is the process by which we can calculate the probability of success from “n” number of trails. In Binomial Distribution we can find only two outcomes like “Yes” or “No”.

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Calculating the Standard Deviation Using R & Python

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Calculating the Standard Deviation Using R & Python

When it comes to summarizing the data, standard deviation (σ) is the value which tells us about the spread of the data. More specifically, it gives information about the dispersion of each observation from the mean of the data. Now, if you are interested in understanding Mean and knowing how to calculate it, then we have shown you in CALCULATING GEOMETRIC MEAN USING R AND PYTHON And APPLICATION OF HARMONIC MEAN USING R AND PYTHON.

Thus, in essence standard deviation gives us valuable information about the robustness of the mean. The deviation is in both positive and negative direction of the mean.

Therefore, it is desirable for the standard deviation to be a low value in comparison to the mean. This would indicate a smaller spread.

Mathematically speaking, standard deviation is known as the second moment about Mean. Variance is standard deviation squared. The variance does not have any mathematical significance on its own. Think of the variance as a mere mathematical maneuver.

The formula for the Variance is:

Application:

An investor wants to calculate the Standard Deviation experience by his investment portfolio in last 12 months (Year 2017-2018).  The returns are:-

Month (Year 2017-18)

Returns (%)

April

12%

May

10%

June

-8%

July

4%

August

12.25%

September

18%

October

13%

November

-9%

December

-4%

January

3%

February

9%

March

11.05%

Calculate Standard Deviation in R:

Examining the Standard Deviation of the investment portfolio returns of a year in R, we get the deviation = 8.803533 or, 8.81% (Approx).

Calculate Standard Deviation in Python:

First, create a Data Frame in Python.

Now, calculate Standard Deviation of the returns,

Examining the Standard Deviation of the investment portfolio returns of a year in Python, we get the deviation = 8.803533209439092 or, 8.81% (Approx)

Standard Deviation is a key part of calculating margins of errors.

Standard deviation shows the variation from the mean. A low standard deviation indicates that the observations (series of number) are very close to the mean. A high standard deviation indicates that the observations (series of numbers) are spread out over a large range.

In this data the mean of the returns is 5.95%, and standard deviation is 8.81% which is close to the mean. So, the deviation of the data is low.

Thus, the investor now knows that the returns of his portfolio fluctuate by approximately 8.81% month-over-month. The information can be used to modify the portfolio to better the investor’s attitude towards risk. If the investor is risk-loving and is comfortable with investing in higher-risk, higher-return securities and can tolerate a higher standard deviation, he/she may consider adding in some small-cap stocks or high-yield bonds. Conversely, an investor who is more risk-averse may not be comfortable with this standard deviation and would want to add in safer investments such as large-cap stocks or mutual funds.

Endnotes

This article will surely help you to figure out the standard deviation with R and Python. However, if you want to have a general idea about Central tendency, about Mean, Median and Mode, then go through our blog on STATISTICAL APPLICATION IN R & PYTHON: CHAPTER 1 – MEASURE OF CENTRAL TENDENCY.

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Application of Median Using R And Python: Calculating Median On the Go

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Application of Median Using R And Python: Calculating Median On the Go

This blog is in continuation of STATISTICAL APPLICATION IN R & PYTHON: CHAPTER 1 – MEASURE OF CENTRAL TENDENCY and takes you through a comprehensive way to calculate the Median in R and Python.

The term ‘Median’ is derived from the Latin word – ‘Medius’ means the center of something. In mathematics, Median is treated is that unique observation which would divide your data set into two equal halves.

If you are still unclear about Mean and/or seeking easier ways to calculate Mean using R & Python, then check APPLICATION OF HARMONIC MEAN USING R AND PYTHON and CALCULATING GEOMETRIC MEAN USING R AND PYTHON.

Median is special because unlike its rival, the Mean, Median is not ridiculed by the curse of extreme values. To illustrate the curse of extreme values, we bring you the following example:

Imagine I had the following data about the average annual salaries:

In Lacs

8.5
9
11
7
8
8.5
36

The mean of the above data set is: 88/7 = 12.57 lacs.

Whereas, to get the median we would have to first arrange the data into ascending order and look for the midpoint of my data i.e.,(1/2 + n/2)th observation. Where “n” is the number of observations.

The median would then be:

7
8
8.5
8.5
9
11
36

Median is the 4th observation, which is 8.5 lacs.

Looking at the mean and median, it would be fair to conclude that median is the better choice to accurate summarizing the data set whenever extreme values are present. However, this may be a crude generalization which should be taken with a pinch of salt. Despite its flaws, the mean still has statistical properties used in predictive analytics which the median lacks.

Application:

A construction company gave wages to their 10 labor (Let name A to J)  as a weekly basis, the wages are 2000, 2100, 1900, 2150, 2500, 2450, 1800, 2600, 2200, 2300. Compute the Median wages of the construction company.

Sr.NoLaborsWages (Weekly)
1A2000
2B2100
3C1900
4D2150
5E2500
6F2450
7G1800
8H2600
9I2200
10J2300

Calculation Median in R:

Python Certification

The Median wage is 2175, calculate in R.

Calculate Median in Python:

Create a data frame of the data in Python.

R Programming Certification

Now, calculate Median in Python.

R Programming Certification

The Median wage is 2175, calculated in R.

This concludes the post. If you have any queries with regards to this post, you can reach us at Dexlab Analytics. Furthermore, you can also look up for interesting and quality courses of R Programming Certification, Python Certification. Also, you can enroll with us for our combined courses of Data Science with Python Certification, Deep Learning and AI using Python, among others. So, hurry up and grab the best course!

 

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6 Essential Skills Data Scientists Need to Add to Their Resumes

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6 Essential Skills Data Scientists Need to Add to Their Resumes

Like all other career paths, cracking the hottest job of 21st century is mainly about gaining knowledge and developing important skills relevant to the job. And your resume should reflect all these skills. So what must the resume of a professional data scientist look like? Here are 6 key skills that must be in the fingertips of a good data scientist.

Stats and Math:

Not only blue-chip tech companies, even medium and small scale enterprises are operated by data science these days. And statistical knowledge is vital for that. You should be thorough with general statistical concepts, like distributions, tests, range, likelihood estimators, etc.

In mathematics, one must know the basics of linear algebra and multivariable calculus. This will definitely make a difference in your work outcomes as it enables you to improve predictive presentations.

2

Excellent Programming and Computing Skills:

Simply put, being good at coding is a must. So, if you are a budding data scientist you must actively work towards developing a computing mind; you should be able to understand, write and even analyze code whenever necessary. This level of dexterity only comes through meticulous study and practice of not one, but a number of programming languages.

If you want to develop a programming skill which is especially designed for data scientists, then get enrolled for R programming certification. Over 40 percent data scientists prefer R for solving stat problems. But it must be noted that R isn’t easy to learn, especially for those who aren’t comfortable with codes.

Python is another language which is highly preferred by data scientists because it is very adaptable and hence, can be employed in all the different steps part of a data science project. Moreover, data sets can be created with ease and SQL tables can be imported into working codes when required. Considering these benefits and the fact that over 50% data scientists favor Python, an excellent Python Certification in Delhi should be first in your list of courses to undertake.

Live Projects

Learning isn’t effective unless you implement it practically. Moreover, your skills get duly appreciated when it’s demonstrated. Hence, always look for live projects you can join and try to understand the data architecture behind the screen. It may be up there in your head, but it needs to be implemented. Large companies actually prefer candidates who have more practical experience rather than just bookish knowledge.

Managing Unstructured Data

Unstructured data is any type of content that doesn’t fit into traditional database tables. These data types aren’t well organized and hence, sorting them becomes very difficult. Blogs, videos and customer reviews are some examples of unstructured data. Being able to manage unstructured data is an important skill for data scientists. Apache Hadoop, NoSQL and Microsoft HDI insight are some good software for tackling unstructured data. If you are interested to learn the techniques, you can look up the course details for Hadoop certification in Delhi at DexLab Analytics.

Storytelling with Data

Data scientists might have to work with complicated models and datasets, but they must know how to express their deductions in lucid language that’s simple and engaging. Hence their raw data must be expressed in the form of tables, charts and graphs, which are visually appealing and can capture the attention of stakeholders.

Academics and Degrees

A strong educational background is the door to the world of data science. Big companies prefer applicants who are master degree holders in either stats or math or computer science or physical science.

Data science is definitely the trendiest job and you might be eager to land one, but it’s not easy to acquire the above mentioned skills. If you are looking for guidance from experts who have previously worked in this field, then you should get enrolled for Data Science Courses in Delhi right away. The industry experts at DexLab Analytics tailor the courses to the unique needs of students and incorporate ample practical cases to help them get ready for the challenges ahead.

 

Reference: www.analyticsindiamag.com/7-things-data-scientists-must-have-in-their-resumes

 

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Most Popular R Programming Interview Questions with Answers to Help You Get Started

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Most Popular R Programming Interview Questions with Answers to Help You Get Started

Brainchild of Ross Ihaka and Robert Gentleman, R programming language was first developed in 1993 with an exclusive and extensive catalog of statistical and graphical techniques and processes, including machine learning, time series, linear regression, statistical inference and lot more.

In the following section, we’re about to talk about top interview questions on R programming –perfect for both freshers and experienced consultants, this interesting interview guide covers almost all the major concepts of R and its applications.

Dive Down!

2

What is R programming?

R programming is an ideal language used for data analysis, and to build incredible statistical software. It’s widely used for a wide range of machine learning applications.

How to write syntax for R commands?

When you start writing commands in R, start using # in the beginning of the line, so that the commands are written as #division.

How to project data analysis outcome through R language?

The best way to convey the results would be by combining the results of data, code and analysis on a document and present the data for further reproducible research. It would help the user recheck the result and take part in the following discussions. The reproducible research aids in performing experiments easily and solving crucial problems.

What are the data structures found in R programming?

Homogenous and Heterogeneous are two data structures found in R programming. For same kinds of objects, we suggest using homogenous data structures as for Array, Vectors and Matrix. And for different types of objects, it’s better to stick to heterogeneous data structures.

How should you import data in R language?

Importing of data in R is done with the help of R commander GUI – it’s used to type commands and is also known as Rcmdr.

Here are 3 ways to import data into R:

  • As soon as you select data set from the dialog box, enter the date set name as asked.
  • R command can also be used to enter data – Data-> New Data Set (It’s only applicable for small data sets).
  • The user can also import data directly from URL, through simple ASCII file, statistical package or from clipboards.

Highlight the advantages of R programming language.

  • The user doesn’t get entangled in license restrictions and norms for using R programming.
  • It’s an open source software and completely free of cost.
  • It has several graphical capabilities.
  • It is easily run on a majority of hardware and OS (including 32 and 64-bit processors).

Mention the limit for memory in R.

For a 32-bit system, the memory of R is limited to 3GB. And for a 64-bit system, the limit is extended to 8TB.

With this, hope you are ready to crack a tough job interview on R programming – however, for those, who want to dig deeper into the intricacies of this fascinating programming language, we have fabulous R programming courses in Gurgaon. With them discover the path towards a dream career!

 

The blog has been sourced from — www.janbasktraining.com/blog/r-interview-questions-answers

 

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3 Most Used Data Science Tools in 2018

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The humongous amount of data calls for advanced data science tools – to completely understand and analyze the information.

Data analytics fuels digital transformation. The best way to do this is by arming an expert pool of statisticians, math pundits and business analysts with suitable data science tools with which they can squelch out crucial insights from the ever-growing silos of corporate data. This kind of initiatives promote a data-driven business culture, which acts as a present prerequisite – and this why here we’ve jotted down top 3 data science tools that’s weaving wonders with the new oil of the world, data:

2

Python

Both, well-performing software and a powerful programming language perfect for developing custom algorithms, Python is the most must-have tool for all data scientists. In a recent KDnuggets survey of 2052 users, Python language was recommended by 65.6% of respondents.

“We use Python both for data science and back end, which provides us with rapid development and machine learning model deployment,” shared Alexander Osipenko, lead data scientist at Cindicator Inc. “It’s also of great importance for us to ensure the security of implemented tools.”

Leslie De Jesus, innovation director and lead data scientist at Wovenware emphasized on the importance of Python libraries. “[We use] Python Libraries, including Scrapy, for web scraping and being able to extract data from the internet and upload it into a data frame for analysis,” said De Jesus.

Few others vouched for Python because of its multifaceted nature and strong optimization skills.

For Python Certification Training in Delhi, drop by DexLab Analytics.

R

Quite similar to Python, R is the go-to programming language for many data scientists and they depend on it wholly because it’s simpler and more specifically-built for data science. According to the KDnuggets poll, 48.5% respondents voted it to be one of the leading data science tools.

As for all, R programming language is blessed with cultivated capabilities for machine learning and statistics, and professionals love using it. It’s another favorite of data analysts, especially those who deals with a lot of data exploration.

“I can quickly see summary stats like mean, median and quartiles; quickly create different graphs; and create test data sets, which can be easily shared and exported to CSV format,” said Jon Krohn, chief data scientist at Untapt Inc.

Seeking R language certification in Delhi? We have DexLab Analytics for you!

Tableau

Bridging the gap between skilled data science teams and more business-oriented analytics consultants, Tableau Software is the fastest data visualization and dashboard tool. “It is a fantastic tool for data scientists and noobs working on data science,” said Pooja Pandey, senior executive for SEO at Entersoft Security. “[It’s a] quick dashboarding tool to visualize insights and analytical data with a very short learning curve.”

The lightening speed of Tableau’s visualization and reporting functions is commendable. It’s easy to learn, quick to implement and intuitive to use. Moreover, it helps different segments of a company to customize exhaustive reports according to their requirements.

Now, if you are looking for ways to hone your visualization skills, we would recommend Tableau BI training courses from DexLab Analytics. Their training courses are comprehensive, well-research and as per industry standards.

 

The blog has been sourced from — searchbusinessanalytics.techtarget.com/feature/Data-scientists-weigh-in-5-data-science-tools-to-consider

 

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