In this blog post, Michael describes why data storytelling goes far beyond pure data quality and how it enables companies to realize the full potential of their data.
The term “preventive maintenance” is often used in connection with the optimization of maintenance plans.
What is information entropy? Let’s assume that in summer we want to send our friends a telegram from Hamburg to St. Petersburg every day about the weather conditions: sunny, slightly cloudy, overcast, rainy.
This post presents a modern approach to estimate an individual probability curve for the acceptance of an offer from historical accepted and rejected transaction data.
Publications are the basis of scientific work: scientists and practitioners all over the world use these results.
Frequent problems that we are confronted with can be traced back to a (multidimensional) regression or a classification. Starting from a set of characteristics, regression attempts to represent the dependency between the characteristics and a target variable as a function.
Based on Bayes’ theorem, Bayesian statistics has developed, which is used in the context of inductive statistics and machine learning to estimate parameters and test hypotheses.
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