“Tea is an act complete in its simplicity.
When I drink tea, there is only me and the tea.
The rest of the world dissolves” – Thich Nhat Hanh
A picture is worth a thousand words, and numbers have the capacity to summarize a picture with just a few statistics, especially in today’s data driven world. The right perspective is necessary for the right kind of analysis. It is not just employing the right technique , but rather, it’s implementation determines the efficacy of the analysis and the relevance of the insight. Continue reading There’s No Free Lunch, Stupid
Lifetime Value (LTV), sometimes referred to as Customer Lifetime Value (CLTV), is a technique used by businesses to predict the net profit of the entire future relationship with a customer. LTV is best thought of at a high-level as simply Total Customer Revenue – Total Customer Costs. Two key components to recognize and understand regarding LTV are the fact some customers hold more value than others and a customer is not just a single transaction but rather a relationship far more valuable than just a one-time deal. Continue reading Why Lifetime value (LTV) calculations need Data Science
MERRICK, NY–(Marketwire – April 15, 2016) – New research published in the Conference Proceedings of the Northeast Decision Science Institute
, proposed and analyzed a unique method for attempting to identify click fraud traffic to websites. The research conducted by Nooshin Nejati and Dr. Alexander Pelaez, proposed examining immediate behaviors of activity, i.e. clicks and time between clicks, to identify “dark traffic”. According to the New York Times
(Dec 9, 2014, L. Kaufman), click fraud cost companies over $6 Billion dollars annually (2015 estimate). “Click Fraud detection in not only important for advertising base businesses, but is also a key factor for any other technology related business to eliminate fraud activities before further data analysis influences business decisions prematurely”, said Ms. Nejati.
Continue reading Identifying Click Fraud
Importance of decluttering the R environment
R is a versatile and powerful programming language that enables the user to perform various types of statistical and data analyses. Like with any other tool, R’s potential largely lies in the user’s knowledge of the extent of its capability. Having used R extensively over a period of time, we have some useful tips we think will benefit the beginner and the seasoned R user alike. Because R is open source, its adaptation has increased exponentially. Several users without any programming or computer science background have been able to benefit from it. Being a newcomer to programming and scripting languages myself, I have fallen prey to several programming and scripting fallacies. Over the course of time, thanks to a multitude of help from experienced colleagues, and to the sea of information readily available on the internet, I have been able to learn several programming etiquettes which I wish I knew sooner. Continue reading Decluttering R
Visualizations are a great data exploration technique. Our human minds are better able to understand and retain visuals than scripts or text. Visualizations, apart from giving us a good general overview of the data, entail us with an intuitive understanding of the distribution of the dataset and its trends.
Continue reading Dispelling illusions using Visualizations