I think the message in Data Science needs to be: Don't believe everything you read. 🧵

#stats #datascience
I'd like to thank Nico Cota for pointing me to this modified graphic from a recent Harvard Business Review article on "Prioritizing Which Data Skills Your Company Needs".
You hear Harvard Business Review, & you think this must be legit.

Well, in this case, they dropped the ball.

If you're coming up with an educational plan for your org in 2023, here are some tips:
1. Focus on #stats

This is the precursor to everything & will help you tremendously
2. Learn how to work with #Data

#DataCleaning and manipulation is 90% of what you will do
3. Build skills in #DataVisualization

This is a cornerstone of understanding, yet many #MachineLearning specialists can't do it
4. Skip over buzzwords until after you learn fundamentals (#AI, #DataScience, #MachineLearning)

You'll get to these after you learn #stats, data cleaning, data manipulation, & data vizualization
And if you are learning data science and feel as lost as I did when I first started, then I can help.

I put together a free 40-minute webinar that is value-packed with the 10 most important secrets that would have saved me countless hours.
Seriously. This webinar is insane. I packaged 5-years of struggling & finally figuring things out into a jammed packed 40-minute talk.

So tune in and I’ll see you in the webinar.

learn.business-science.io/free-rtrack-ma…

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More from @mdancho84

Nov 2
I’m super excited for today: I’m revealing a secret about text analysis that 90% of data scientists are not using.

It's being overlooked by 90% of data scientists.

And, true story, it helped me double my business in 2022... 🧵

#stats #datascience #rstats
Text analysis is a gold mine for customer analytics.

Yet few organizations are harnessing its power.

In fact, I wasn't...

Until I put my money where my mouth is.
True story - Text analysis was part of a solution that helped me increase me double my business in 2022.

Yes, that’s right.

In the middle of a recession, my company doubled its revenue, AND text analysis was a key part.
Read 13 tweets
Nov 1
This technique helped me grow my company’s revenue from $900K to $2M in 2022 (during a “recession”)

Yet 90% of companies don’t know how to use it.

Here’s everything you need to know about text analysis. 🧵

#rstats #stats #datascience #nlp Image
Text is a treasure trove of information.

Seriously… a gold mine. $$$

But it’s not as easy to work with as other types of data like numerical.

Most data scientists just convert text to categorical…

Or even worse, simply don’t use text.
Why is text not being used?

Text requires special techniques like:

1. Tokenization
2. N-grams
3. Stop word removal
4. Stripping characters
5. Counting characters

And formatting text can be tough work.

But a lot of data scientists make 1 big mistake…
Read 11 tweets
Oct 11
Network analysis is an amazing tool for business analysis.

But there are a few challenges to be prepared for.

#datascience #rstats #businessanalysis
Network analysis has the potential to identify the most influential customers for a business...

But there are a few challenges that the Data Scientist needs to be prepared for.
One that I often struggle with is determining the right threshold for showing network connections.

Too low and it becomes difficult to find the most important clusters.

Too high and there aren't enough connections to tell anything.
Read 7 tweets
Oct 9
90% of data scientists are overlooking this skill for business analysis.

Yet, it's a gold mine.

Here's why...

#datascience #rstats #business #excel
Whether you realize it or not, your business runs off of customers.

And how they work is based on principles of social psychology.
If you understand which are the most influential customers, then you know how to market to them...

...And knowing their triggers is like adding fuel to a fire. 🔥
Read 8 tweets
Oct 8
Modeling in R is extremely powerful for business analytics...

But many beginners get stuck.

Here's my simple 3-step process to make a linear regression model in R. 🧵

#datascience #business #R #rstats Image
To give some background, these simple 5 lines of code create a basic business solution...

... I'm modeling my ...

Target = bicycle product prices (regression task)
As a function of my predictors:

Predictors = product categories (mountain or road bikes) and bicycle frame material (aluminum or carbon fiber).
Read 10 tweets
Sep 30
The more I dive into Bayesian, the more... my mind is blown.

Here's why. 🧵

#rstats #python #datascience Image
First, Bayesian is like normal regression. Except way better!

It literally solves issues in-sample by sampling. Lots of times!
Second, confidence intervals are realistic.

Unlike normal regression, Bayesian regression accounts for changing variance.
Read 5 tweets

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