Principal Component Analysis (PCA) is the gold standard in dimensionality reduction.
But almost every beginner struggles understanding how it works (and why to use it).
In 3 minutes, I'll demolish 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. How PCA Works:
PCA has 5 steps; Standardization, Covariance Matrix Computation, Eigen Vector Calculation, Choosing Principal Components, and Transforming the data.
π¨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: π§΅
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
In 3 minutes, I'll share 3 weeks of research on Random Forest.
Let's go:
1. What is a Random Forest?
Random Forest builds multiple decision trees and merges them together to get a more accurate and stable prediction. Each tree in the random forest gives a prediction, and the most voted prediction is considered as the final result.
2. Bagging (Bootstrap Aggregations):
Each tree is trained on a random subset of the data (sampling of data points) instead of the entire training dataset. This technique is called "bootstrap aggregating" or "bagging".
Bayes' Theorem is a fundamental concept in data science.
But it took me 2 years to understand its importance.
In 2 minutes, I'll share my best findings over the last 2 years exploring Bayesian Statistics. Let's go.
1. Background:
"An Essay towards solving a Problem in the Doctrine of Chances," was published in 1763, two years after Bayes' death. In this essay, Bayes addressed the problem of inverse probability, which is the basis of what is now known as Bayesian probability.
2. Bayes' Theorem:
Bayes' Theorem provides a mathematical formula to update the probability for a hypothesis as more evidence or information becomes available. It describes how to revise existing predictions or theories in light of new evidence, a process known as Bayesian inference.
Understanding P-Values is essential for improving regression models.
In 2 minutes, I'll crush your confusion.
Let's go:
1. The p-value:
A p-value in statistics is a measure used to assess the strength of the evidence against a null hypothesis.
2. Null Hypothesis (Hβ):
The null hypothesis is the default position that there is no relationship between two measured phenomena or no association among groups. For example, under Hβ, the regressor does not affect the outcome.