Data Science

A Surging Trend: 5 Most Promising Cryptocurrencies Made Possible through Blockchain

Blockchain has led to the inception of multiple major cryptocurrencies that are changing the future. Blockchain has been central to the growth of the cryptocurrency sector. Blockchain technology was developed to create bitcoin, but it has been vital to other digital currencies as well. Are you looking forward to investing in crypto this year and making …

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7 Ways To Advance Your Data Science Knowledge and Expertise

As a data scientist, your knowledge and expertise are what powers industries. Businesses of all sectors of the economy now rely on data to inform their business processes. As many as 53% of companies have already adopted big data analytics, highlighting the upward trend in data science within the private sector. Businesses rely on data scientists to …

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Understanding the practicalities of ANOVA (Analysis of Variance)

An agricultural product manufacturing company develops a chemical to improve crop level, irrespective of temperature increase. The efficacy of the chemical would be proved if the mean yield across different temperatures remains the same. Surrounding this are two hypotheses: the null hypothesis that states – yes the mean yields remain the same and the alternative …

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How Data Science Is Helping to Detect Child Abuse

There is no good way to begin a conversation about child abuse or neglect. It is a sad and oftentimes sickening topic. But the fact of the matter is it exists in our world today and frequently goes unnoticed or unreported, leaving many children and young adults to suffer. Of the nearly 3.6 million events …

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What are Principal component analysis (PCA) and Factor Analysis (FA)?

A medical equipment company is planning to launch surgical staplers as a replacement for surgical sutures. To better understand the market of the latter variant, the company engages with a market research firm. The sentiment towards both the surgical tools is evaluated across several parameters by interacting with surgeons, who rate each of the two …

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What are Probability Distributions?

What are the probabilities of families in your residential area possessing zero, one, two, three, or more than three cars? What are the probabilities associated with different values of speed of an aircraft? What is the probability distribution of total sales ($) of your online stores?  Well “probability distributions” is often the most frequently used …

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Deciphering The Seldom Discussed Differences Between Data Mining and Data Science

Source: Smartdatacollective Data science and data mining are seemingly similar to many people, but there are core differences that must be understood. The Data Scientist profession today is often considered to be one of the most promising and lucrative. The Bureau of Labor Statistics estimates that the number of data scientists will increase from 32,700 to …

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What is Multivariate Statistical Analysis (MSA)?

What enables you to read this blog? Why could you read your school science books and understand Copernicus’s discovery stating that, indeed, the earth revolves around the sun and not vice versa? How did you come to know that there also exists a concept like space debris?   You like to read, you learned science in …

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5 Reasons Data Scientists Must Outsource React JS Development

Source: smartdatacollective.com Here’s why it’s helpful to outsource for data scientists to outsource React JS development. Python has historically been the most popular language for big data applications. However, there is a growing need for JavaScript programmers that have a background in data science. React.JS is one of the JavaScript libraries that is becoming more popular for data …

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