Principal Component Analysis (PCA) is the gold standard in dimensionality reduction.
But PCA is hard to understand for beginners.
Let me destroy your confusion:
1. What is PCA?
PCA is a statistical technique used in data analysis, mainly for dimensionality reduction. It's beneficial when dealing with large datasets with many variables, and it helps simplify the data's complexity while retaining as much variability as possible.
2. PCA has 5 steps:
1. Standardization 2. Covariance Matrix Computation 3. Eigen Vector Calculation 4. Choosing Principal Components 5. Transforming the data
Logistic Regression is the most important foundational algorithm in Classification Modeling.
In 2 minutes, I'll crush your confusion.
Let's dive in:
1. Logistic regression is a statistical method used for analyzing a dataset in which there are one or more independent variables that determine a binary outcome (in which there are only two possible outcomes). This is commonly called a binary classification problem.
2. The Logit (Log-Odds):
The formula estimates the log-odds or logit. The right-hand side is the same as the form for linear regression. But the left-hand side is the logit function, which is the natural log of the odds ratio. The logit function is what distinguishes logistic regression from other types of regression.
These 7 statistical analysis concepts have helped me as an AI Data Scientist.
Let's go: 🧵
Step 1: Learn These Descriptive Statistics
Mean, median, mode, variance, standard deviation. Used to summarize data and spot variability. These are key for any data scientist to understand what’s in front of them in their data sets.
2. Learn Probability
Know your distributions (Normal, Binomial) & Bayes’ Theorem. The backbone of modeling and reasoning under uncertainty. Central Limit Theorem is a must too.
🚨BREAKING: New Python library for Bayesian Marketing Mix Modeling and Customer Lifetime Value
It's called PyMC Marketing.
This is what you need to know: 🧵
1. What is PyMC Marketing?
PyMC-Marketing is a state-of-the-art Bayesian modeling library that's designed for Marketing Mix Modeling (MMM) and Customer Lifetime Value (CLV) prediction.
2. Benefits
- Incorporate business logic into MMM and CLV models
- Model carry-over effects with adstock transformations
- Understand the diminishing returns
- Incorporate time series and decay
- Causal identification