Super Data Science: ML & AI Podcast with Jon Krohn 475: The 20% of Analytics Driving 80% of ROI
Jun 1, 2021
David Langer, a data scientist and the founder of Dave on Data, dives into analytics education and emphasizes the crucial 20% of analytics that delivers 80% of ROI. He explores practical tools like Excel, SQL, and R, unveiling how these can transform business insights. The conversation flows from the benefits of SQL for data solutions to the statistical power of R in machine learning. With a sprinkle of humor, they discuss the importance of focusing on high-impact analytics, all while promoting a vibrant data science community.
AI Snips
Chapters
Books
Transcript
Episode notes
20% for 80% ROI
- Dave Langer's extensive machine learning knowledge wasn't always practical in real-world business applications.
- He realized a smaller subset of analytical techniques provided disproportionate value.
Excel Techniques
- Learn linear regression in Excel for many business analytics scenarios.
- Consider XMR charts (from statistical process control) for analyzing measurements over time.
XMR Charts: Distribution Independent
- XMR charts, unlike many statistical techniques, don't require data to fit a normal distribution.
- This non-parametric approach offers valuable analysis without strict distributional assumptions.
