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All You Need To Know About Statistics And Probability

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All You Need To Know About Statistics And Probability Statistics And Probability What Is Data? Look around you, there is data everywhere. Each click on your phone generates more data than you know. This generated data provides insights for analysis and helps us make better business decisions. This is why data is so important. What Is Data – Statistics and Probability – Edureka Data refers to facts and statistics collected together for  reference or analysis.  Data can be collected, measured and analyzed. It can also be visualized by using statistical models and graphs. Categories Of Data Data can be categorized into two sub-categories: Qualitative Data Quantitative Data Refer the below figure to understand the different categories of data: Categories Of Data – Statistics and Probability – Edureka Qualitative Data:   Qualitative data deals with characteristics and descriptors that can’t be easily measured, but can be observed subjectively. Qualitative data is further divid...
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How Much Statistics Do You Really Need to Become a Data Scientist?

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What are the Best Books for Data Science?

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What are the Best Books for Data Science? All of us have different takes on learning and gaining knowledge. Some like to watch  videos , some like listening to people, some like being guided, some love reading. If you are a reader and really love the field of  Machine Learning  and  Artificial Intelligence , you are at the right place to get more of what you love. (Links to the free books are mentioned when it is available) This article has the following sections: Overview of Data Science Books to begin with Data Science Books to help you Master Data Science So let’s start your journey and help you find the best books for learning Data Science :) Overview of Data Science So what exactly do we understand by Data Science?  Data Science is a blend of various tools, algorithms, and machine learning principles with the goal to discover hidden patterns from the raw data. That right there is the formal definition but let’s simplify it even more. Data Science is basical...
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What Is a SARIMAX Model?

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 What Is a SARIMAX Model? What Is a SARIMAX model?   Although we have dedicated a series of blog posts to time series models, we are yet to discuss one very important topic – seasonality. Each of the models we examined so far – be it  AR ,  MA ,  ARMA ,  ARIMA  or  ARIMAX  has a seasonal equivalent. As you can probably guess, the names for these counterparts will be SARMA, SARIMA, and SARIMAX respectively, with the “S” representing the seasonal aspect. Therefore, the full name of the model would be  Seasonal Autoregressive Integrated Moving Average Exogenous model . We can all agree that it’s a mouthful, so we’ll stick with the abbreviation. Additionally, the SARMA and SARIMA can be considered simpler cases of the SARIMAX, where we don’t use integration or exogenous variables, so we’ll mainly focus our attention to the SARIMAX in this tutorial. What Is Seasonality? In case you need a hint, seasonality occurs when certain patterns aren’t ...
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The 10 Most Important Packages in R for Data Science

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The 10 Most Important Packages in R for Data Science Learn about different packages in R used for data science. Including how to load them and different resources you can use to advance your skills with them. R is the most popular language for Data Science. There are many packages and libraries provided for doing different tasks. For example, there is  dplyr  and  data.table  for data manipulation, whereas libraries like  ggplot2  for data visualization and data cleaning library like  tidyr . Also, there is a library like 'Shiny' to create a Web application and  knitr  for the Report generation where finally  mlr3 ,  xgboost , and  caret  are used in Machine Learning. 1.  ggplot2 ggplot2  is based on the 'Grammar of Graphics", which is a popular data visualization library. Graphs with one variable, two variables, and three variables, along with both categorical and numerical data, can be built. Also, grouping can...
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The Power of Statistics in Data Analysis—Are You Using It Right?

The Power of Statistics in Data Analysis—Are You Using It Right? Master statistics for data analysis! Learn essential statistical techniques to extract insights, avoid errors, and make data-driven decisions. Statistics is the backbone of data analysis, business intelligence, and decision-making . Whether you're analyzing trends, predicting future outcomes, or deriving insights from raw data, statistics provides the mathematical framework needed to make sense of it all . But are you using it correctly? Many data analysts use statistics daily, but few fully leverage its power. In this guide, we’ll explore how statistics drives data analysis, the essential techniques every analyst must know, and how to avoid common pitfalls that can lead to misleading conclusions . Enhance your statistics skills today . Why Statistics is Crucial in Data Analysis 1. Transforming Raw Data into Insights Data is just numbers until statistical techniques give it meaning. By applying methods like descripti...
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