Here is the presentation from the second of the three part FREE Data Science webinar series titled “What Questions Can Data Answer?”.
(Presentation Only – No Voice Over)
Download Movie with Voice Over (Big file!)
When scientists collect data they often do this to test a hypothesis or question they have formed about their topic (e.g., “If I raise the temperature of a cup of water, then the amount of sugar that can be dissolved in it will be increased”). To help the scientist reach the right conclusion, methods from decision theory are used.
In this webinar Dr Bill Shannon presented strategies to correctly infer business insights from data. Since a database does not provide the information needed for all problems, the attendee will learn how to identify what data is needed to answer what questions.
Business applications and intuition behind the following concepts were discussed:
- How to identify what data is needed to answer what questions
- Hypothesis testing
- Cluster analysis
- Market segmentation
We hope that with the first two webinars in the Data Science series, you got an understanding of how these statistical concepts associated with Data Science are really intuitive, can be explained without resorting to complex mathematical equations and theorems and can be applied within the context of your business needs.
Enjoy and see you at the next FREE webinar in the Data Science series “What Methods Can Be Used to Analyze Data?” on August 7, 2013.
While we will cover lot of material in these free webinars, a more comprehensive deep dive of these topics is available in a three day training course titled “Introduction to Big Data Analytics for Big Data Analytics for Managers and Decision Makers“. For now we are offering this training in St. Louis only. Drop us a word if you think we should offer this course in your city or online.
Spread the word using the links below, so that others can benefit from these great free Data Science webinars and resources.