My name is Daniel and I am in 4th grade. This week, parents were invited into my school to tell us about their work. After careful consideration, I allowed my father to come, although I was a bit worried about it. After all, if he gave a bad presentation, I would look bad too. Fortunately, he did quite well. Some of my friends said they thought he had the most interesting job of all, because he works in so many different fields and finds out so many interesting things.
My father brought in a debit card, a coke bottle, a…
Imagine you open the morning paper and you stare at a collection of symbols and characters. And you have no idea what this all might mean.
Fortunately this is not the case. We all have been trained to convert the sequence of characters into meaning. We were trained to read. This implicitly assumes that a) there are known rules how to convert text into understandable messages and b) we are aware of this rules.
In a more analytical sense, we learnt these rules in the past and we are using it in the text interpretation engine in our brain as…
August 2020 Mariapfarr, Salzburg, Austria. Surrounded by a fantastic landscape, the nice village of Mariapfarr lies in the center of the Austrian Alps and offers a picturesque view into valleys and high mountains. I return from a hiking tour and the bus drops me off in the center of this small village. Luckily I have to wait 20 more minutes for the next connection. to my hotel. Luckily, because the place next to the bus station has been renamed to “Joseph Mohr” place it honor the famous son of the village of Mariapfarr. “Famous Joseph Mohr? Why that? Believe me…
Starting with May 29th, fitness centers in Austria were allowed to re-open under certain restrictions. As my pause in physical exercises during the lock-down left some visible traces, I am back in my fitness center twice a week.
However I have not met my friend Norbert there for the last 9 weeks. Just bad luck? Non-overlapping time plans? Did Norbert reduce his training efforts? The statistician in me wants to know the probability of not meeting Norbert. This article shows two approaches to find the probability for that event, and a solution to overcome the probability ;-)
In July 1995 I started my career as researcher at the department for Medical Statistics at the Medical University of Vienna. Packed with knowledge from my studies I started a great journey into world of statistics, analytics, and data science. I am happy to say with complete conviction: This was the right decision for me!
The people, business questions, projects, conferences, customers, software packages, students, that accompanied me on that journey allowed me to learn and grow in that topic and enlarged my analytical and personal horizon a lot.
In this article I am going to look back on the…
Are you also tired of getting this feedback from business people when presenting your data science results:
Especially when you highlight outliers, anomalies or suspicious observations that are quite distant form the expected value, this is often the first response.
Different from simple one-size-fits-all average values, analytic methods allow to calculate individual reference values that already consider seasonal pattern, trends, and other co-variables of your analysis subjects.
Applying data science and machine learning methods-Generating relevant findings to better understand business processes