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How to Start a Successful Data Science Career?

How to Start a Successful Data Science Career?

The most common question we come across in DexLab Analytics HQ is how to take a step into the world of analytics and data science. Of course, grabbing a data science job isn’t easy, especially when there is so much hype going around. This is why we have put together top 5 ways to bag the hottest job in town. Follow these points and swerve towards your dream career.

Deep Learning and AI using Python

Enhance Your Skills

At present, LinkedIn in the US alone have 24,697 vacant data scientist positions. Python, SQL and R are the most common skills in demand followed by Tensorflow, Jupyter Notebooks and AWS. Gaining statistical literacy is the best way to grab these hot positions but for that, you need hands-on training from an expert institute.

If interested, you can check out analytics courses in Delhi NCR delivered by DexLab Analytics. They can help you stay ahead of the curve.

Create an Interesting Portfolio

A portfolio filled with machine learning projects is the best bet. Companies look for candidates who have prior work experience or are involved in data science projects. Your portfolio is the potential proof that you are capable enough to be hired. Thus, make it as attractive as possible.

Include projects that qualify you to be a successful data scientist. We would recommend including a programming language of your choice, your data visualization skill and your ability to employ SQL.

Get Yourself a Website

Want to standout from the rest? Build up your website, create a strong online presence and continuously add and update your Kaggle and GitHub profile to exhibit your skills and command over the language. Profile showcasing is of utmost importance to get recognized by the recruiters. A strong online presence will not only help you fetch the best jobs but also garner the attention of the leads of various freelance projects.

Be Confident and Apply for Jobs You Are Interested In

It doesn’t matter if you possess the skills or meet the job requirements mentioned on the post, don’t stop applying for the jobs that interest you. You might not know every skill given on a job description. Follow a general rule, if you qualify even half of the skills, you should apply.

However, while job hunting, make sure you contact recruiters, well-versed in data science and boost your networking skills. We would recommend you visit career fairs, approach family, friends or colleagues and scroll through company websites. These are the best ways to look for data science jobs. 

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Improve Your Communication Skills

One of the key skills of data scientists is to communicate insights to different users and stakeholders. Since data science projects run across numerous teams and insights are often shared across a large domain, hence superior communication skill is an absolute must-have.

Want more information on how to become a data scientist? Follow DexLab Analytics. We are a leading data analyst training institute in Delhi offering in-demand skill training courses at affordable prices.

 

The blog has been sourced fromwww.forbes.com/sites/louiscolumbus/2019/04/14/how-to-get-your-data-scientist-career-started/#67fdbc0e7e5c

 

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5 Full-Stack Data Science Projects You Need to Add to Your Resume Now

5 Full-Stack Data Science Projects You Need to Add to Your Resume Now

Small or big, most of the organizations seek aspiring data scientists. The reason being this new breed of data experts helps them stay ahead of the curve and churns out industry-relevant insights.

It hardly matters if you are a fresher or a college dropout, with the right skill-set and basic understanding of nuanced concepts of machine learning, you are good to go and pursue a lucrative career in data science with a decent pay scale.

However, whenever a company hires a new data scientist, the former expects that the candidate had some prior work experience or at least have been a part in a few data science-related projects. Projects are the gateway to hone your skills and expertise in any realm.  In such projects, a budding data scientist not only learns how to develop a successful machine learning model but also solves an array of critical tasks, which needs to be fulfilled single-handedly. The tasks include preparing a problem sheet, crafting a suitable solution to the problem, collect and clean data and finally evaluate the quality of the model.

Below, we have charted down top 5 full-stack data science projects that will boost your efforts of preparing an interesting resume.

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Face Detection

In the last decade, face detection gained prominence and popularity across myriad industry domains. From smartphones to digitally unlocking your house door, this robust technology is being used at homes, offices and everywhere.

Project: Real-Time Face Recognition

Tools: OpenCV, Python

Algorithms: Convolution Neural Network and other facial detection algorithms

Spam Detection

Today, the internet plays a crucial role in our lives. Nevertheless, sharing information across the internet is no mean feat. Communication systems, such as emails, at times, contain spam, which results in decreased employee productivity and needs to be avoided.

Project: Spam Classification

Tools: Python, Matplotlib

Algorithm: NLTK

Sentiment Analysis

If you are from the Natural Language Processing and Machine Learning domain, sentiment analysis must have been the hot-trend topic. All kinds of organizations use this technology to understand customer behaviors and frame strategies. It works by combining NLP and suave machine learning technologies.

Project: Twitter Sentiment Analysis

Tools: NLTK, Python

Algorithms: Sentiment Analysis 

Time Series Prediction

Making predictions regarding the future is known as extrapolation in the classical handling of time series data. Modern researchers, however, prefer to call it time series forecasting. It is a revolutionary phenomenon of taking models perfect on historical data and using them for future prediction of observations.

Project: Web Traffic Time Series Forecasting

Tools: GCP

Algorithms: Long short-term memory (LSTM), Recurrent Neural Networks (RNN) and ARIMA-based techniques

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Recommender Systems

Bigwigs, such as Netflix, Pandora, Amazon and LinkedIn rely on recommender systems. The latter helps users find out new and relevant content and items. In simple terms, recommender systems are algorithms that suggest users meaningful items based on his preferences and requirements.

Project: Youtube Video Recommendation System

Tools: Python, sklearn

Algorithms: Deep Neural Networks, classification algorithms

If you are a budding data scientist, follow DexLab Analytics. We are a premier data science training platform specialized in a wide array of in-demand skill training courses. For more information on data science courses in Gurgaon, feel free to drop by our website today.

 

The blog has been sourced fromwww.analyticsindiamag.com/5-simple-full-stack-data-science-projects-to-put-on-your-resume

 

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Top 6 Data Science Interview Red Flags

Top 6 Data Science Interview Red Flags

Excited to face your first data science interview? Probably, you must have double-checked your practical skills and theoretical knowledge. Technical interviews are tough yet interesting. Cracking them and bagging your dream job is no mean feat.

Thus, to lend you a helping hand, we’ve compiled a nifty list of some common red flags that plague data science interviews. Go through them and decide how to handle them well!

Boring Portfolio

Having a monotonous portfolio is not a crime. Nevertheless, it’s the most common allegation against data scientists by the recruiters. Given the scope, you should always exhibit your organizational and communication abilities in an interesting way to the hiring company. A well-crafted portfolio will give you instant recognition, so why not try it!

Deep Learning and AI using Python

Sloppy Code

Of course, your analytical skills, including coding is going to be put to test during any data science interview. A quick algorithm coding test will bring out the technical value you would add to the company. In such circumstances, writing a clumsy code or a code with too many bugs would be the last thing you want to do. Improving the quality of coding will accelerate your hiring process for sure.

Confusion about Job Role

No wonder if you walk up to your interviewer having no idea about your job responsibilities, your expertise and competence will be questionable. The domain of data science includes a lot of closely related job profiles. But, they differ widely in terms of skills and duties. This is why it’s very important to know your field of expertise and the skills your hiring company is looking for.

Zero Hands-on Experience

A decent, if not rich, hands-on experience in Machine Learning or Data Science projects is a requisite. Organizations prefer candidates who have some experience. The latter may include data cleaning projects, data-storytelling projects or even end-to-end data projects. So, keep this in mind. It will help you score well in the upcoming data science interview.

Lack of Knowledge over Data Science Technicalities

Data analytics, data science, machine learning and AI – are all closely associated with one another. To excel in each of these fields you need to possess high technical expertise. Being technically sound is the key. An interview can go wrong if the recruiter feels you lack command over data science technicalities, even though you have presented an excellent portfolio of projects.

Therefore, you have to be excellent in coding and harbor a vast pool of technical knowledge. Also, be updated with the latest industry trends and robust set of algorithms.

Ignoring the Basics

It happens. At times, we fumble while answering some very fundamental questions regarding our particular domain of work. However, once we come out of the interview venue, we tend to know everything. Reason: lack of presence of mind. Therefore, the key is to be confident. Don’t lose your presence of mind in the stifling interview room.

Thus, beware of these drooping gaps; being a victim of these critical objections might keep you away from bagging that dream data analyst job. Instead, work on them and win a certain edge over others while cracking the toughest data science interview session.

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Note:

If interested in Data Science Courses in Gurgaon, check out DexLab Analytics. We are a premier training platform specialized in in-demand skills, including machine learning using Python, Alteryx and customer analytics. All our courses are industry-relevant and crafted by experts.

 

The blog has been sourced from upxacademy.com/eleven-most-common-objections-in-data-science-interviews-and-how-to-handle-them

 

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The Rising Popularity of Python in Data Science

The Rising Popularity of Python in Data Science

Python is the preferred programming language for data scientists. They need an easy-to-use language that has decent library availability and great community participation. Projects that have inactive communities are usually less likely to maintain or update their platforms, which is not the case with Python.

What exactly makes Python so ideal for data science? We have examined why Python is so prevalent in the booming data science industry — and how you can use it for in your big data and machine learning projects.

Deep Learning and AI using Python

Why Python is Dominating?

Python has long been known as a simple programming language to pick up, from a syntax point of view, anyway. Python also has an active community with a vast selection of libraries and resources. The result? You have a programming platform that makes sense of how to use emerging technologies like machine learning and data science.

Professionals working with data science applications don’t want to be bogged down with complicated programming requirements. They want to use programming languages like Python and Ruby to perform tasks in a hassle-free way.

Ruby is excellent for performing tasks such as data cleaning and data wrangling, along with other data pre-processing tasks. However, it doesn’t feature as many machine learning libraries as Python. This gives Python the edge when it comes to data science and machine learning.

Python also enables developers to roll out programs and get prototypes running, making the development process much faster. Once a project is on its way to becoming an analytical tool or application, it can be ported to more sophisticated languages such as Java or C, if necessary.

Newer data scientists gravitate toward Python because of its ease of use, which makes it accessible.

Why Python is Ideal for Data Science?

Data science involves extrapolating useful information from massive stores of statistics, registers, and data. These data are usually unsorted and difficult to correlate with any meaningful accuracy. Machine learning can make connections between disparate datasets but requires serious computational sophistry and power.

Python fills this need by being a general-purpose programming language. It allows you to create CSV output for easy data reading in a spreadsheet. Alternatively, more complicated file outputs that can be ingested by machine learning clusters for computation.

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Consider the Following Example:

Weather forecasts rely on past readings from a century’s worth of weather records. Machine learning can help make more accurate predictive models based on past weather events. Python can do this because it is lightweight and efficient at executing code, but it is also multi-functional. Also, Python can support object-orientated and functional styles, meaning it can find an application anywhere.

There are now over 70,000 libraries in the Python Package Index, and that number continues to grow. As previously mentioned, Python offers many libraries geared toward data science. A simple Google search reveals plenty of Top 10 Python libraries for data science lists. Arguably, the most popular data analysis library is an open-source library called pandas. It is a high-performance set of applications that make data analysis in Python a much simpler task.

No matter what data scientists are looking to do with Python, be it predictive causal analytics or prescriptive analytics, Python has the toolset to perform a variety of powerful functions. It’s no wonder why data scientists embrace Python.

If you are interested in Python Certification Training in Delhi, drop by DexLab Analytics. With a team of expert consultants, we provide state-of-the-art Machine Learning Using Python training courses for aspiring candidates. Check out our course itinerary for more information.

 

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A Regression Line Is the Best Fit for the Given PRF If the Parameters Are OLS Estimations – Elucidate

A Regression Line Is the Best Fit for the Given PRF If the Parameters Are OLS Estimations - Elucidate

Regression analysis is extensively used in business applications. It’s one of the most integral statistical techniques that help in estimating the direction and strength between two or more (financial) variables – thus determining a company’s sales and profits over the past few years.

In this blog, we have explained how a regression line is the best fit for a given PRF if the parameters are all OLS estimations.

The OLS estimators for a given regression line has been obtained as: a = y ̅ – bx ̅ and b = (Cov(x,y))/(v(x)). The regression line on the basis of these OLS estimate has been given as: Y ̂_ i-Y ̅ = b(x_i-x ̅ )….. (1)

The regression line (1) constructed above is a function of the least square i.e. the parameters of the regression equation have been selected so that the residual sum of squares is minimized. Thus, the estimators ‘a’ & ‘b’ explains the population parameters, the best relative to any other parameters. Given, the linearity of the parameters, these estimators share the minimum variations with the population parameters, i.e. they explain the maximum variations in the model, in relation to the population parameters, as compared to any other estimators, in a class of unbiased estimators.

Thus, the regression line would be the ‘best fit’ for a given PRF. If ‘a’ & ‘b’ are best linear unbiased estimators for  respectively. Thus, to show ‘best fit’, we need to prove:

  1. To ‘b’ is Best unbiased estimator for :-

From the OLS estimation; we have ‘b’ as:

i.e.b is a linear combination of w’is & y’is.

Hence; ‘b’ is a linear estimator for β. Therefore, the regression line would be linear in parameters as far as ‘b’ is concerned.

Now,

Let us test for the prevalence of this conditions:

For unbiasedness, we must have :- E(b)=β. To test this, we take expectation on both sides of (3) & get:

From (1) & (4) we can say that ‘b’ is a linear unbiased estimator for β.

To check whether ‘b’ is the best estimator or not we need to check whether it has the minimum variance in a class of linear unbiased estimator.

Thus, we need to calculate the variance for ‘b’ & show that it is the minimum in a class of unbiased estimations. But, first, we need to calculate the variance for ‘b’.

Now; we need to construct another linear unbiased estimator and find its variance.

Let another estimator be: b^*=∑ci yi….(6)  For unbiasedness ∑ci =0,∑cixi =1.

Now; from (6) we get:

∴b* is an unbiased estimator for  Now; the variance for  can be calculated as:-

Now;

Hence; from (9) we can say V(b) is the least among a class of unbiasedness estimators.

Therefore, ‘b’ is the best linear unbiased estimator for  in a class of linear unbiased estimators.

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  1. To prove ‘a’ is the best linear unbiased estimator for α:-

Form the OLS estimation we have ‘a’ as:-

Here; ‘b’ is a function of Y and Y is a linear function of X(orUi).

‘a’ is also a linear function of Y. i.e. has linearity.

There, ‘a’ is a linear estimator for   ……. (11)

Now, for ‘a’ to be an unbiased estimator; we must have From (10) we have:-

Taking expectations on both sides of the equation; we get:

Therefore, ‘a’ is an unbiased estimator for  ……… (12)

From (11) & (12) ‘a’ is a linear unbiased estimator for

Now, if ‘a’ is to be the best estimator for then is most have the minimum variance. Thus; we first need to calculate the variance of ‘a’.

Now, 

Now; let us consider an estimator in the class of linear unbiased estimator.

Further we know,

Now;

Hence;

Now;

Therefore;

Hence; from (16) we can say that is the Min Variance Unbiased estimator in a class of unbiased estimator.

Hence; we can now safely conclude that a regression line composed of OLS estimators is the ‘best fit’ line for a given PRF, compared to any other estimator.

Thus, the best-fit regression line can be depicted as

Thus, a regression line is the best fit for a given PRF if the estimators are OLS.

End Notes

The beauty and efficiency of Regression method of forecasting never fail to amaze us. The way it crunches the data to help make better decisions and improve the current position of the business is incredible. If you are interested in the same, follow us at DexLab Analytics. A continues blog series on regression model and analysis is upcoming. Watch this space for more.

DexLab Analytics offers premium data science courses in Gurgaon crafted by the experts. After thorough research, each course is prepared keeping student’s needs and industry demands in mind. You can check out our course offerings here.

 

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Bayesian Thinking & Its Underlying Principles

Bayesian Thinking & Its Underlying Principles

In the previous blog on Bayes’ Theorem, we left off at an interesting junction where we just touched upon the ideas on prior odds ratio, likelihood ratio and the resulting Posterior Odds Ratio. However, we didn’t go into much detail of what it means in real life scenarios and how should we use them.

In this blog, we will introduce the powerful concept of “Bayesian Thinking” and explain why it is so important. Bayesian Thinking is a practical application of the Bayes’ Theorem which can be used as a powerful decision-making tool too!

We’ll consider an example to understand how Bayesian Thinking is used to make sound decisions.

For the sake of simplicity, let’s imagine a management consultation firm hires only two types of employees. Let’s say, IT professionals and business consultants. You come across an employee of this firm, let’s call him Raj. You notice something about Raj instantly. Raj is shy. Now if you were asked to guess which type of employee Raj is what would be your guess?

If your guess is that Raj is an IT guy based on shyness as an attribute, then you have already fallen for one of the inherent cognitive biases. We’ll talk more about it later. But what if it can be proved Raj is actually twice as likely to be a Business Consultant?!

This is where Bayesian Thinking allows us to keep account of priors and likelihood information to predict a posterior probability.

The inherent cognitive bias you fell for is actually called – Base Rate Neglect. Base Rate Neglect occurs when we do not take into account the underlying proportion of a group in the population. Put it simply, what is the proportion of IT professionals to Business consultants in a business management firm? It would be fair to assume for every 1 IT professional, the firm hires 10 business consultants.

Another assumption could be made about shyness as an attribute. It would be fair to assume shyness is more common in IT professionals as compared to business consultants. Let’s assume, 75% of IT professionals are in fact shy corresponding to about 15% of business consultants.

Think of the proportion of employees in the firm as the prior odds. Now, think of the shyness as an attribute as the Likelihood. The figure below demonstrates when we take a product of the two, we get posterior odds.

Plugging in the values shows us that Raj is actually twice as likely to be a Business consultant. This proves to us that by applying Bayesian Thinking we can eliminate bias and make a sound judgment.

Now, it would be unrealistic for you to try drawing a diagram or quantifying assumptions in most of the cases. So, how do we learn to apply Bayesian Thinking without quantifying our assumptions? Turns out we could, if we understood what are the underlying principles of Bayesian Thinking are.

Principles of Bayesian Thinking

Rule 1 – Remember your priors!

As we saw earlier how easy it is to fall for the base rate neglect trap. The underlying proportion in the population is often times neglected and we as human beings have a tendency to just focus on just the attribute. Think of priors as the underlying or the background knowledge which is essentially an additional bit of information in addition to the likelihood. A product of the priors together with likelihood determines the posterior odds/probability.

Rule 2 – Question your existing belief

This is somewhat tricky and counter-intuitive to grasp but question your priors. Present yourself with a hypothesis what if your priors were irrelevant or even wrong? How will that affect your posterior probability? Would the new posterior probability be any different than the existing one if your priors are irrelevant or even wrong?

Rule 3 – Update incrementally

We live in a dynamic world where evidence and attributes are constantly shifting. While it is okay to believe in well-tested priors and likelihoods in the present moment. However, always question does my priors & likelihood still hold true today? In other words, update your beliefs incrementally as new information or evidence surfaces. A good example of this would be the shifting sentiments of the financial markets. What holds true today, may not tomorrow? Hence, the priors and likelihoods must also be incrementally updated.

Conclusion

In conclusion, Bayesian Thinking is a powerful tool to hone your judgment skills. Developing Bayesian Thinking essentially tells us what to believe in and how much confident you are about that belief. It also allows us to shift our existing beliefs in light of new information or as the evidence unfolds. Hopefully, you now have a better understanding of Bayesian Thinking and why is it so important.

On that note, we would like to say DexLab Analytics is a premium data analytics training institute located in the heart of Delhi NCR. We provide intensive training on a plethora of data-centric subjects, including data science, Python and credit risk analytics. Stay tuned for more such interesting blogs and updates!

About the Author: Nish Lau Bakshi is a professional data scientist with an actuarial background and a passion to use the power of statistics to tackle various pressing, daily life problems.

 

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The Almighty Central Limit Theorem

The Almighty Central Limit Theorem

The Central Limit Theorem (CLT) is perhaps one of the most important results in all of the statistics. In this blog, we will take a glance at why CLT is so special and how it works out in practice. Intuitive examples will be used to explain the underlying concepts of CLT.

First, let us take a look at why CLT is so significant. Firstly, CLT affords us the flexibility of not knowing the underlying distribution of any data set provided if the sample is large enough. Secondly, it enables us to make “Large sample inference” about the population parameters such as its mean and standard deviation.

The obvious question anybody would be asking themselves is why it is useful not to know the underlying distribution of a given data set?

To put it simply in real life, often times than not the population size of anything will be unknown. Population size here refers to the entire collection of something, like the exact number of cars in Gurgaon, NCR at any given day. It would be very cumbersome and expensive to get a true estimate of the population size. If the population size is unknown its underlying distribution will be known too and so will be its standard deviation. Here, CLT is used to approximate the underlying unknown distribution to a normal distribution. In a nutshell, we don’t have to worry about knowing the size of the population or its distribution. If the sample sizes are large enough, i.e. – we have a lot of observed data, it takes the shape of a symmetric bell-shaped curve. 

Now let’s talk about what we mean by “Large sample inference”. Imagine slicing up the data into ‘n’ number of samples as below:

Now, each of these samples will have a mean of their own.

Therefore, effectively the mean of each sample is a random variable which follows the below distribution:

Imagine, plotting each of the sample mean on a line plot, and as “n”, i.e. the number of samples goes to infinity or a large number the distribution takes a perfect bell-shaped curve, i.e – it tends to a normal distribution.

Large sample inferences could be drawn about the population from the above distribution of x̅. Say, if you’d like to know the probability that any given sample mean will not exceed quantity or limit.

The Central Limit Theorem has vast application in statistics which makes analyzing very large quantities easy through a large enough sample. Some of these we will meet in the subsequent blogs.

Try this for yourself: Imagine the average number of cars transiting from Gurgaon in any given week is normally distributed with the following parameter . A study was conducted which observed weekly car transition through Gurgaon for 4 weeks. What is the probability that in the 5th week number of cars transiting through Gurgaon will not exceed 113,000?

If you liked this blog, then do please leave a comment or suggestions below.

About the Author: Nish Lau Bakshi is a professional data scientist with an actuarial background and a passion to use the power of statistics to tackle various pressing, daily life problems.

About the Institute: DexLab Analytics is a premier data analytics training institute headquartered in Gurgaon. The expert consultants working here craft the most industry-relevant courses for interested candidates. Our technology-driven classrooms enhance the learning experience.

 

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Bayes’ Theorem: A Brief Explanation

Bayes’ Theorem: A Brief Explanation

(This is in continuation of the previous blog, which was published on 22nd April, 2019 – www.dexlabanalytics.com/blog/a-beginners-guide-to-learning-data-science-fundamentals )

In this blog, we’ll try to get a hands-on understanding of the Bayes’ Theorem. While doing so, hopefully we’ll be able to grasp a basic understanding of concepts such as Prior odds ratio, Likelihood ratio and Posterior odds ratio.

Arguably, a lot of classification problems have their root in Bayes’ Theorem. Reverend T. Bayes came up with this superior logical function, which mathematically deducts the probability of an event occurring from a larger set by “flipping” the conditional probabilities.

 


 

Consider,  E1, E2, E3,……..En to be a partition a larger set “S” and now define an Event – A, such that A is a subset of S.

Let the square be the larger set “S” containing mutually exclusive events Ei’s. Now, let the yellow ring passing through all Ei’s be an event – A.

Using conditional probabilities, we know,

Also, the relationship:

Law of total probability states:

Rearranging the values of  &  gives us the Bayes Theorem:

The values of  are also known as prior probabilities, the event A is some event, which is known to have occurred and the conditional probability   is known as the posterior probability.

Now that, you’ve got the maths behind it, it’s time to visualise its practical application. Bayesian thinking is a method of applying Bayes’ Theorem into a practical scenario to make sound judgements.

The next blog will be dedicated to Bayesian Thinking and its principles.

For now, imagine, there have been news headlines about builders snooping around houses they work in. You’ve got a builder in to work on something in your house. There is room for all sorts of bias to influence you into believing that the builder in your house is also an opportunistic thief.

However, if you were to apply Bayesian thinking, you can deduce that only a small fraction of the population are builders and of that population, a very tiny proportion is opportunistic thieves. Therefore, the probability of the builder in your house being an opportunistic thief is actually a product of the two proportions, which is indeed very-very small.

Technically speaking, we call the resulting posterior odds ratio as a product of prior odds ratio and likelihood ratio. More on applying Bayesian Thinking coming up in the next blog.

In the meantime try this exercise and leave your comments below in the comments section.

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In the above example on “snooping builders”, what are your:

  • Ei’s
  • Event – A
  • “S”

About the Author: Nish Lau Bakshi is a professional data scientist with an actuarial background and a passion to use the power of statistics to tackle various pressing, daily life problems.

About the Institute: DexLab Analytics is a premier data analyst training institute in Gurgaon specializing in an enriching array of in-demand skill training courses for interested candidates. Skilled industry consultants craft state-of-the-art big data courses and excellent placement assistance ensures job guarantee.

For more from the tech series, stay tuned!

 

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Being a Statistician Matters More, Here’s Why

Being a Statistician Matters More, Here’s Why

Right data for the right analytics is the crux of the matter. Every data analyst looks for the right data set to bring value to his analytics journey. The best way to understand which data to pick is fact-finding and that is possible through data visualization, basic statistics and other techniques related to statistics and machine learning – and this is exactly where the role of statisticians comes into play. The skill and expertise of statisticians are of higher importance.

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Below, we have mentioned the 3R’s that boosts the performance of statisticians:

Recognize – Data classification is performed using inferential statistics, descriptive and diverse other sampling techniques.

Ratify – It’s very important to approve your thought process and steer clear from acting on assumptions. To be a fine statistician, you should always indulge in consultations with business stakeholders and draw insights from them. Incorrect data decisions take its toll.

Reinforce – Remember, whenever you assess your data, there will be plenty of things to learn; at each level, you might discover a new approach to an existing problem. The key is to reinforce: consider learning something new and reinforcing it back to the data processing lifecycle sometime later. This kind of approach ensures transparency, fluency and builds a sustainable end-result.

Now, we will talk about the best statistical techniques that need to be applied for better data acknowledgment. This is to say the key to becoming a data analyst is through excelling the nuances of statistics and that is only possible when you possess the skills and expertise – and for that, we are here with some quick measures:

Distribution provides a quick classification view of values within a respective data set and helps us determine an outlier.

Central tendency is used to identify the correlation of each observation against a proposed central value. Mean, Median and Mode are top 3 means of finding that central value.

Dispersion is mostly measured through standard deviation because it offers the best scaled-down view of all the deviations, thus highly recommended.

Understanding and evaluating the data spread is the only way to determine the correlation and draw a conclusion out of the data. You would find different aspects to it when distributed into three equal sections, namely Quartile 1, Quartile 2 and Quartile 3, respectively. The difference between Q1 and Q3 is termed as the interquartile range.

While drawing a conclusion, we would like to say the nature of data holds crucial significance. It decides the course of your outcome. That’s why we suggest you gather and play with your data as long as you like for its going to influence the entire process of decision-making.

On that note, we hope the article has helped you understand the thumb-rule of becoming a good statistician and how you can improve your way of data selection. After all, data selection is the first stepping stone behind designing all machine learning models and solutions.

Saying that, if you are interested in learning machine learning course in Gurgaon, please check out DexLab Analytics. It is a premier data analyst training institute in the heart of Delhi offering state-of-the-art courses.

 

The blog has been sourced from www.analyticsindiamag.com/are-you-a-better-statistician-than-a-data-analyst

 

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