Open Data Science’s March Madness 2018 Bracket Update

Open Data Science...

After 48 games and millions of busted brackets, the 2018 NCAA Men’s Tourney has been whittled down to the Sweet 16. And as expected, plenty of exciting matches occurred over the weekend. The most exciting being the most significant result of #16 seed UMBC’s triumph over #1 seed Virginia, the first time that’s happened in […]

Prediction in the public sector: Why the government needs predictive analytics

Prediction in the pu...

Data can appear lifeless and dull on the surface – especially government data – but the thought of it should actually get you excited. Data is a very interesting and powerful thing. First off, data is exactly the stuff we bother to write down – and for good reason. But its potential far transcends functions […]

Getting Started with Predictive Maintenance Models

Getting Started with...

This was originally posted on the Silicon Valley Data Science blog. In a previous post, we introduced an example of an IoT predictive maintenance problem. We framed the problem as one of estimating the remaining useful life (RUL) of in-service equipment, given some past operational history and historical run-to-failure data. Reading that post first will give you the […]

Are Your Predictive Models like Broken Clocks?

Are Your Predictive ...

A wise philosopher (or comedian) once said, “Even a broken clock is right twice a day.” That same statement might also apply to some predictive models. Since prediction is about the future (usually), then random chance (like broken clockwork) may allow our model to be right occasionally (just by accident). The important step in the data science […]

Predicting Resignation in the Military

Predicting Resignati...

In the 2015 hackathon organized by Singapore’s Ministry of Defense, one of the tasks was to predict resignation rates in the military, using anonymized data on 23,000 personnel which included their age, military rank, years in service, as well as performance indicators such as salary increments and promotions. Our team won overall 3rd place. In this […]

Prophet is Data Science not Statistics, and there is a Difference

Prophet is Data Scie...

Facebook’s prophet forecasting tool illustrates the distinction between a traditional statistical approach compared to the newer machine learning/data science paradigm. This distinction is cultural: it seems that the motivation behind prophet was to quickly make accurate forecasts (predictions), instead of getting bogged down in building models satisfying certain theoretical properties, which may or may not yield useful results. The […]

Introduction to Evaluating Classification Models

Introduction to Eval...

In this post we will describe how to evaluate a predictive model. Why bother creating complex predictive models if 5% of the customers will churn anyway? Because a predictive model will rank our clients based on the probability that they  will abandon the company. It helps answer these two questions: 1. How should we optimise our resources? 2.  What […]

What Is Predictive Analytics (and Why Do You Need It)?

What Is Predictive A...

Try this statistic on for size: The 500 petabytes of digital healthcare data that existed in 2012 is predicted to reach 25,000 petabytes by the year 2020. That’s an increase of nearly 50 times the amount of data from just eight years prior! Healthcare marketers may be swimming in data, but what’s important is to […]

Amazon will make $41B this Holiday Season! Forecasting Quarterly Revenue

Amazon will make $41...

The holiday shopping season is in full swing! The economy is relatively strong compared to a few years back and so retail sales are probably going to be strong especially for amazon. Other retailers like Target and Wal-Mart are also running amazing black Friday and holiday sales to attract customers. However, amazon has consistently shown […]