Category Archives: Data Science
Binomial Distribution Explained with Examples
Have you ever wondered how to predict the number of successes in a series of independent trials? Or perhaps you’ve been curious about the probability of achieving a specific outcome in a sequence of yes-or-no questions. If so, we are essentially talking about the binomial distribution. It’s important for data scientists to understand this concept as binomials are used often in business applications. The binomial distribution is a discrete probability distribution that applies to binomial experiments (experiments with binary outcomes). It’s the number of successes in a specific number of trials. Sighting a simple yet real-life example, the binomial distribution may be imagined as the probability distribution of a number …
Difference between Data Science & Data Analytics
What’s the difference between data science and data analytics? Many people use these terms interchangeably, but there is a big distinction between the two fields. Data science is more focused on understanding and deriving insights from data while leveraging statistical and machine learning methods, while data analytics is an overarching term used to solve problems using analytical techniques while leveraging data. Both the terms are in a way related. In this blog post, we’ll explore the differences between data science and data analytics in greater detail, with examples of each. The following are key topics in relation to the difference between data science and data analytics: Different forms/purposes Different techniques …
Hold-out Method for Training Machine Learning Models
The hold-out method for training the machine learning models is a technique that involves splitting the data into different sets: one set for training, and other sets for validation and testing. The hold-out method is used to check how well a machine learning model will perform on the new data. In this post, you will learn about the hold-out method used during the process of training the machine learning model. Do check out my post on what is machine learning? concepts & examples for a detailed understanding of different aspects related to the basics of machine learning. Also, check out a related post on what is data science? When evaluating …
One-way ANOVA test: Concepts, Formula & Examples
The one-way analysis of variance (ANOVA) test is a statistical procedure commonly used to compare the means values on a specific variable between three or more groups. The significance of the difference between the means of two samples can be judged through either t-test or z-test depending upon different criteria, but it becomes tricky when there is a need to simultaneously evaluate the significance of the difference amongst three or more sample means. This is where one-way ANOVA test comes to rescue. The ANOVA technique enables us to perform this simultaneous test and as such is considered to be an important tool of analysis. As data scientists, it is of …
Neyman-Pearson Lemma: Hypothesis Test, Examples
Have you ever faced a crucial decision where you needed to rely on data to guide your choice? Whether it’s determining the effectiveness of a new medical treatment or assessing the quality of a manufacturing process, hypothesis testing becomes essential. That’s where the Neyman-Pearson Lemma steps in, offering a powerful framework for making informed decisions based on statistical evidence. The Neyman-Pearson Lemma holds immense importance when it comes to solving problems that demand decision making or conclusions to a higher accuracy. By understanding this concept, we learn to navigate the complexities of hypothesis testing, ensuring we make the best choices with greater confidence. In this blog post, we will explore …
Pandas CSV to Dataframe Python Example
Converting CSV files to DataFrames is a common task in data analysis. In this blog, we’ll explore a Python code example using the Pandas library to efficiently convert CSV files to DataFrames. This approach offers flexibility, speed, and convenience, making it a valuable technique for handling large datasets. Read CSV into Pandas Dataframe The following is the code which can be used to read the CSV file from local drive: In case, you want to read CSV file from the URL, the following will be the code. As a matter of fact, nothing changes except for the fact that you pass the URL to read_csv function. The following are some …
Occam’s Razor in Machine Learning: Examples
“Everything should be made as simple as possible, but not simpler.” – Albert Einstein Consider this: According to a recent study by IDC, data scientists spend approximately 80% of their time cleaning and preparing data for analysis, leaving only 20% of their time for the actual tasks of analysis, modeling, and interpretation. Does this sound familiar to you? Are you frustrated by the amount of time you spend on complex data wrangling and model tuning, only to find that your machine learning model doesn’t generalize well to new data? As data scientists, we often find ourselves in a predicament. We strive for the highest accuracy and predictive power in our …
Outlier Detection Techniques in Python: Examples
In the realm of data science, mastering outlier detection techniques is paramount for ensuring data integrity and robust machine learning model performance. Outliers are the data points which deviate significantly from the norm. The outliers data points can greatly impact the accuracy and reliability of statistical analyses and machine learning models. In this blog, we will explore a variety of outlier detection techniques using Python. The methods covered will include statistical approaches like the z-score method and the interquartile range (IQR) method, as well as visualization techniques like box plots and scatter plots. Whether you are a data science enthusiast or a seasoned professional, it is important to grasp these …
Boston Housing Dataset Linear Regression: Predicting House Prices
Predicting house prices accurately is crucial in the real estate industry. However, it can be challenging to determine the factors that significantly impact house prices. Without a clear understanding of these factors, accurate predictions are difficult to achieve. The Boston Housing Dataset addresses this problem by providing a comprehensive set of variables that influence house prices in the Boston area. However, effectively utilizing this dataset and building robust predictive models require appropriate techniques and evaluation methods. In this blog, we will provide an overview of the Boston Housing Dataset and explore linear regression, LASSO, and Ridge regression as potential models for predicting house prices. Each model has its unique properties …
ChatGPT Cheat Sheet for Data Scientists
With the explosion of data being generated, data scientists are facing increased pressure to analyze and interpret large amounts of text data effectively. However, this can be a challenging task, especially when dealing with unstructured data. Additionally, data scientists often spend a significant amount of time manually generating text and answering complex questions, which can be a time-consuming process. Welcome ChatGPT! ChatGPT offer a powerful solution to these challenges. By learning different ChatGPT prompts, data scientists can significantly become super productive while generating relevant insights, answer complex questions, and perform machine learning tasks with ease such as data preprocessing, hypothesis testing, training models, etc. In this blog, I will provide …
Python Tesseract PDF & OCR Example
Have you ever needed to extract text from an image or a PDF file? If so, you’re in luck! Python has an amazing library called Tesseract that can perform Optical Character Recognition (OCR) to extract text from images and PDFs. In this blog, I will share sample Python code using with you can use Tesseract to extract text from images and PDFs. As a data scientist, it can be very helpful and useful to be able to extract text from images or PDFs, especially when working with large amounts of data found in receipts, invoices, etc. Tesseract is an OCR engine widely used in the industry, known for its accuracy …
Gaussian Mixture Models: What are they & when to use?
In machine learning and data analysis, it is often necessary to identify patterns and clusters within large sets of data. However, traditional clustering algorithms such as k-means clustering have limitations when it comes to identifying clusters with different shapes and sizes. This is where Gaussian mixture models (GMMs) come in. But what exactly are GMMs and when should you use them? Gaussian mixture models (GMMs) are a type of machine learning algorithm. They are used to classify data into different categories based on the probability distribution. Gaussian mixture models can be used in many different areas, including finance, marketing and so much more! In this blog, an introduction to gaussian …
Seaborn: Multiple Line Plots with Markers, Legend
Do you want to learn how to create visually stunning and informative line plots that will captivate your audience by providing most apt information? Do you have the requirement of creating multiple line plots in the same figure representing sales of different products across different months in a year? Are you looking for a takeaway Python code with Seaborn library for creating line plots? If yes, you are in the right place. In this blog post, we’ll explore how to create multiple line plots with Seaborn, a powerful data visualization library built on top of Matplotlib. I will also show how to add markers to the line plots to make …
ChatGPT for Data Science Projects – Examples
Data science is all about turning raw data into actionable insights and outcomes that drive value for your organization. But as any data science professional knows, coming up with new, innovative ideas for your projects is only half the battle. The real challenge is finding a way to turn those ideas into results that can be used to drive business success by doing proper data analysis and building machine learning models using most appropriate algorithms. Unfortunately, many data science professionals struggle with this second step, which can lead to frustration, wasted time and resources, and missed opportunities. That’s where ChatGPT comes in. As a language model trained by OpenAI, ChatGPT …
Hypothesis Testing in Business: Examples
Are you a product manager or data scientist looking for ways to identify and use most appropriate hypothesis testing for understanding business problems and creating solutions for data-driven decision making? Hypothesis testing is a powerful statistical technique that can help you understand problems during exploratory data analysis (EDA) and identify most appropriate hypotheses / analytical solution. In this blog, we will discuss hypothesis testing with examples from business. We’ll also give you tips on how to use it effectively in your own problem-solving journey. With this knowledge, you’ll be able to confidently create hypotheses, run experiments, and analyze the results to derive meaningful conclusions. So let’s get started! Before going …
Sklearn Algorithms Cheat Sheet with Examples
The Sklearn library, short for Scikit-learn, is one of the most popular and widely-used libraries for machine learning in Python. It offers a comprehensive set of tools for data analysis, preprocessing, model selection, and evaluation. As a beginner data scientist, it can be overwhelming to navigate the various algorithms and functions within Sklearn. This is where the Sklearn Algorithms Cheat Sheet comes in handy. This cheat sheet provides a quick reference guide for beginners to easily understand and select the appropriate algorithm for their specific task. In this cheat sheet, I have compiled a list of common supervised and unsupervised learning algorithms, along with their Sklearn classes and example use …
I found it very helpful. However the differences are not too understandable for me