Analytics

Data VisualizationAn introduction to risk management principlesBasic risk management principles are presented from a data scientist point of view using the theory of expected utility. The risk management strategies are summarized in one chart (with detailed explanations on how to read the chart) where iso-risk curves are materialized.Risk map with risk object (G. de Longeaux)Let us first assume that we have a total wealth W₀. Now, if we are exposed to the risk of losing an amount L (obviously less than W₀) with a…

Photo by Amador Loureiro on UnsplashIn the English language, more than 38% of words are polysemous, a term referring to a single word which may have multiple definitions, or “senses” (Edmonds, 2006). The word “set” for instance — which can be used as a noun, verb, and adjective — has dozens of unique definitions, making it one of the most polysemous words recorded in the English dictionary. Thus, if we were to ask someone to “please set the set of cutlery on the table”, how would we instinctively know the difference…

Overcome the challenges faced in scaling green initiatives that prevent organizations from achieving their sustainability goalsPhoto by Fabio Tura on UnsplashFinancial regulations now push companies to commit to carbon reduction roadmaps by 2030.As customer awareness grows, companies dedicate substantial resources and effort to design and implement cross-functional green initiatives.Defining a supply chain as multiple parties exchanging material and information flows — (Image by Author)The main challenge lies in the fact…

Too Long; Didn't ReadExcel is an indispensable tool for data analysis and with the right datasets and techniques, beginners can learn to uncover insights and make informed decisions. In this article, we have compiled a list of 15 Excel Datasets for Data Analytics Beginners. These Excel datasets covering topics like financial analysis, market analysis and time series analysis, can be used to gain insights into real-world scenarios. Too Long; Didn't ReadExcel is an indispensable tool for data analysis and with the right…

The role of big data analytics in transforming the Indian business landscape is enlisted in this article Data is the new fuel for businesses in today’s digital age. Companies are producing enormous amounts of data each day as a result of the unprecedented expansion of technology and the internet. However, business success cannot be achieved solely with this raw data; It takes a lot of research and interpretation to come up with useful insights that can help businesses make better decisions. Big data analytics comes into…

Data analytics has revolutionized the way we gather, analyze, and interpret data. From business to healthcare, education to sports, data analytics has transformed how decisions are made and how we perceive the world around us. This article delves into the impact of data analytics on society and the benefits and challenges it presents. The Benefits of Data Analytics Data analytics has numerous benefits for society. One of the most significant benefits is its ability to improve decision-making. Data analytics can help…

Google Analytics has introduced the capability to process item-specific custom parameters from ecommerce events occurring on your website or app. These parameters can be registered as custom dimensions and utilized in exploratory analysis. What they do. Custom parameters on an item-level grant you the opportunity to gather more data about products on your website or app, extending beyond the standard parameters provided by default. For instance, item-specific custom parameters can be employed to obtain information…

Too Long; Didn't ReadI sat together (virtually) with Amir Movafaghi, CEO at Mixpanel, to better understand the evolution and consumerization of data analytics and what the future holds for it. Before joining Mixpanel, Amir served as CFO at Spiceworks Inc., an online community where users can collaborate and seek advice from one another, and also engage in a marketplace to purchase IT-related services. Previously, he held various leadership roles at Twitter Inc., where, according to TheOrg.Com, he helped scale the company…

If you don’t have real data, you got to fake it!Photo by Leif Christoph Gottwald on UnsplashIn the world of data analytics, getting your hands on a good dataset is of paramount importance. In the real world, you probably have access to a lot of uncleaned data that you likely need to spend some time cleaning. What if you do not have the required data and wanted to hack something out quickly for a proof-of-concept demo? In this type of situation, you often have to cook up your own data, and at the same time you need your…

How R and Shiny Can Help You Find the Best Youtube Videos for Your KidsHow to Engage with Users By Storytelling: Show Data Analytics in R and Shiny | Image By AuthorData is more engaged with storytelling. As a data professional, I seek less complicated ways to convey the gap between data analysis and communication. A dashboard is traditionally the default way to visualize and share data. It also carries the responsibility for communication. However, I found the limitations of the dashboard: limited chart selections and…