Central Limit Theorem: Concepts & Examples
The central limit theorem is one of the most important concepts in statistics. This theorem states that, given a large enough sample size, the distribution of sample averages will be approximately normal. This is a huge deal because it means that we can use the normal distribution to make predictions about populations based on samples. In this article, we’ll explore the central limit theorem in more detail and look at some examples of how it works. As data scientists, it is important to understand the central limit theorem so that we can apply it to real-world situations. What is the central limit theorem and why is it important? The central …
Probability concepts, formulas & real-world examples
Probability is a branch of mathematics that deals with the likelihood of an event occurring. It is important to understand probability concepts if you want to get good at data science and machine learning. In this blog post, we will discuss the basic concepts of probability and provide examples to help you understand it better. We will also introduce some common formulas associated with probability. So, let’s get started! What is probability and what are the different types? Probability is a concept in mathematics that measures the likelihood of an event occurring. It is typically expressed as a number between 0 and 1, with 0 indicating that an event is …
Different Types of Probability Distributions: Examples
In this post, you will learn the definition of 25 different types of probability distributions. Probability distributions play an important role in statistics and in many other fields, such as economics, engineering, and finance. They are used to model all sorts of real-world phenomena, from the weather to stock market prices. Before we get into understanding different types of probability distributions, let’s understand some fundamentals. If you are a data scientist, you would like to go through these distributions. This page could also be seen as a cheat sheet for probability distributions. What are Probability Distributions? Probability distributions are a way of describing how likely it is for a random …
Statistics – Random Variables, Types & Python Examples
Random variables are one of the most important concepts in statistics. In this blog post, we will discuss what they are, their different types, and how they are related to the probability distribution. We will also provide examples so that you can better understand this concept. As a data scientist, it is of utmost importance that you have a strong understanding of random variables and how to work with them. What is a random variable and what are some examples? A random variable is a variable that can take on random values. The key difference between a variable and a random variable is that the value of the random variable …
Histogram Plots using Matplotlib & Pandas: Python
Histograms are a graphical representation of the distribution of data. In Python, there are several ways to create histograms. One popular method is to use the Matplotlib library. In this tutorial, we will show you how to create different types histogram plots in Python using Matplotlib. As data scientists, it is important to learn how to create visualizations to communicate our findings. Histograms are one way to do this effectively. What are Histogram plot? Histogram plots are a way of representing the distribution of data. A histogram is made up of bars, with each bar representing a certain range of data values. The height of the bar indicates how many …
How to Create Pandas Dataframe from Numpy Array
Pandas is a library for data analysis in Python. It offers a wide range of features, including working with missing data, handling time series data, and reading and writing data in different formats. Pandas also provides an efficient way to manipulate and calculate data. One of its key features is the Pandas DataFrame, which is a two-dimensional array with labeled rows and columns. A DataFrame is a table-like structure that contains columns and rows of data. Creating a Pandas DataFrame from a NumPy array is simple. In this post, you will get a code sample for creating a Pandas Dataframe using a Numpy array with Python programming. Step 1: Load …
Data-Driven Decision Making: What, Why & How?
Data-driven decision-making is a data-driven approach to making decisions to achieve desired outcome. More precisely, data-driven decision making is an insights-driven approach to drive decisions and related actions. The data can come from internal and external data sources to avoid data biases. Data-driven decision-makers use data in their decision process to validate existing actions or take new actions (predictive or prescriptive analytics). They make decisions based on the actionable insights generated from the data. The goal is to make informed decisions while ensuring trust & transparency across the stakeholders & organization as a whole. It can be noted that data-driven decision making provides great thrust to digital transformation initiatives. In …
Ensemble Methods in Machine Learning: Examples
Machine learning models are often trained with a variety of different methods in order to create a more accurate prediction. Ensemble methods are one way to do this, and involve combining the predictions of several different models in order to get a more accurate result. When different models make predictions together, it can help create a more accurate result. Data scientists should care about this because it can help them create models that are more accurate. In this article, we will look at some of the common ensemble methods used in machine learning. Data scientists should care about this because it can help them create models that are more accurate. …
Learning Curves Python Sklearn Example
In this post, you will learn about how to use learning curves using Python code (Sklearn) example to determine machine learning model bias-variance. Knowing how to use learning curves will help you assess/diagnose whether the model is suffering from high bias (underfitting) or high variance (overfitting) and whether increasing training data samples could help solve the bias or variance problem. You may want to check some of the following posts in order to get a better understanding of bias-variance and underfitting-overfitting. Bias-variance concepts and interview questions Overfitting/Underfitting concepts and interview questions What are learning curves & why they are important? Learning curve in machine learning is used to assess how models will …
Machine Learning Sklearn Pipeline – Python Example
In this post, you will learning about concepts about machine learning (ML) pipeline and how to build ML pipeline using Python Sklearn Pipeline (sklearn.pipeline) package. Getting to know how to use Sklearn.pipeline effectively for training/testing machine learning models will help automate various different activities such as feature scaling, feature selection / extraction and training/testing the models. It is recommended for data scientists (Python) to get a good understanding of Sklearn.pipeline. Introduction to Machine Learning Pipeline & Sklearn.pipeline Machine Learning (ML) pipeline, theoretically, represents different steps including data transformation and prediction through which data passes. The outcome of the pipeline is the trained model which can be used for making the predictions. …
Sequence Models Quiz 1 – Test Your Understanding
Sequence modeling is extremely important for data scientists as it can be used in a variety of real-world applications. Sequence modeling is used in speech recognition, image recognition, machine translation, and text summarization. These are all important applications that data scientists must be familiar with. As a data scientist, it is important to have a good understanding of sequence modeling and how it can be used to solve real-world problems. In this blog, we’ll be looking at a quiz around sequence models, more specifically the different types of sequence models. This will help us understand how sequence models work and can be used in an interview situation. Before getting into …
Credit Risk Modeling & Machine Learning Use Cases
Credit risk modeling is a process of estimating the probability that a borrower will default on their loan. This is done by analyzing historical data about borrowers’ credit behavior. Credit risk models are used by banks and financial institutions to make better decisions about who to lend money to, how much to extend, and when to pull back. Banks and financial institutions are under constant pressure to improve their business outcomes. One way they are doing this is by using machine learning to better predict credit risk. By understanding the factors that contribute to a borrower’s likelihood of default, banks can make more informed decisions about who to lend money …
Data Lineage Concepts, Examples & Tools
Data lineage can be a complex and confusing topic. It’s hard to know where your data comes from, how it’s been changed, and what the impact of those changes has been. Data lineage tools make tracing data easy and straightforward. By understanding your data’s history you can more effectively troubleshoot issues, optimize processes, and make better decisions. In this blog, you will learn about data lineage concepts, examples, and tools. As a data professional, you must have a strong understanding of data lineage. What is Data Lineage and why is it important? Data lineage is a term used in data management to describe the path that data takes from its …
Google Colab: Read File from Local Drive
Google Colab is a powerful tool that allows you to run Python code in the cloud. This can be useful for a variety of tasks, including data analysis and machine learning. One of the lesser known features of Google Colab is that you can also access files stored on your local computer. In this article, we will show you how to read a file from your local drive in Google Colab using a quick code sample. There are a few reasons why you as a data scientist might need to learn how to read files from your local drive in Google Colab. One reason is that you may not have …
Data Storytelling Explained with Examples
Have you ever told a story to someone, but they just didn’t seem to understand it? They might have been confused about the plot or why the characters acted in certain ways. If this has happened to you before, then you are not alone. Many people struggle with data storytelling because they do not know how to communicate their data effectively. Data storytelling is a powerful tool that can be used to educate, inform or persuade an audience. By using charts, graphs, images and other visuals, data can be made more interesting and engaging. Data storytelling involves taking data and presenting it in a way that is easy to understand and …
Data Analyst Technical & Soft Skills
Do you want to become a data analyst? It’s a great career choice! Data analysts are in high demand these days. Companies rely on data analysts to help them make better decisions by turning data into insights. In order to be successful, data analysts need a mix of technical skills and soft skills. Technical skills include expertise in analyzing data. Soft skills include communication and problem-solving skills. Data analysts must be able to take data and turn it into insights that help their company make better decisions. They also need to be able to effectively communicate those insights to people who may not have a technical background. In this blog …
