Practice Archive - m2hycon https://www.m2hycon.de/en/category/news/practice/ let's data science Thu, 20 Mar 2025 10:54:16 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 https://www.m2hycon.de/wp-content/uploads/2022/10/favicon-150x150.jpg Practice Archive - m2hycon https://www.m2hycon.de/en/category/news/practice/ 32 32 What every CEO should know about introducing AI in the company https://www.m2hycon.de/en/news/what-every-ceo-should-know-about-introducing-ai-in-the-company/ Thu, 20 Mar 2025 10:51:24 +0000 https://www.m2hycon.de/?p=7758 AI is THE topic of the future, but unfortunately there is still a lot of uncertainty. Here are five tips for CEOs on what to do now.

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]]> Leveraging Advanced Forecasting Techniques with StatsForecast: A Case Study https://www.m2hycon.de/en/news/leveraging-advanced-forecasting-techniques-with-statsforecast-a-case-study/ Wed, 16 Oct 2024 10:00:47 +0000 https://www.m2hycon.de/?p=6289 Forecasts for intermittent data are often difficult. Torben examines whether the Statsforecast package can be used and describes which evaluation methods are useful.

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]]> The importance of unit tests and testing in general in data science https://www.m2hycon.de/en/news/the-importance-of-unit-tests-and-testing-in-general-in-data-science/ Thu, 10 Oct 2024 08:40:01 +0000 https://www.m2hycon.de/?p=6244 Testing in data science projects is often neglected. In this blog post, you can find out what the consequences are and how it can be done better.

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]]> How a strong corporate culture promotes the success of AI projects https://www.m2hycon.de/en/news/how-a-strong-corporate-culture-promotes-the-success-of-ai-projects/ Tue, 24 Sep 2024 17:42:02 +0000 https://www.m2hycon.de/?p=6116 Successful AI implementation depends to a large extent on the corporate culture.
This article sheds light on how fundamental values, norms and behaviors in the company support the introduction of AI.

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]]> The importance of data storytelling in large-scale projects: More than just data quality https://www.m2hycon.de/en/news/practice/the-importance-of-data-storytelling-in-large-scale-projects-more-than-just-data-quality/ Tue, 03 Sep 2024 13:38:06 +0000 https://www.m2hycon.de/?p=5895 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.

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]]> What is preventive maintenance? https://www.m2hycon.de/en/news/expert-knowledge/what-is-preventive-maintenance/ Thu, 25 Nov 2021 07:44:02 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/what-is-preventive-maintenance/ The term "preventive maintenance" is often used in connection with the optimization of maintenance plans.

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]]> Information entropy defined as easy as pie! https://www.m2hycon.de/en/news/practice/information-entropy-defined-as-easy-as-pie/ Thu, 18 Nov 2021 19:19:31 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/information-entropy-defined-as-easy-as-pie/ 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.

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]]> Estimation of a customer-specific offer acceptance probability https://www.m2hycon.de/en/news/practice/estimation-of-a-customer-specific-offer-acceptance-probability/ Tue, 03 Aug 2021 12:40:16 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/estimation-of-a-customer-specific-offer-acceptance-probability/ 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.

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]]> New publication in the trade magazine “Digitale Welt” https://www.m2hycon.de/en/news/practice/new-publication-in-the-trade-magazine-digitale-welt/ Mon, 05 Jul 2021 09:24:55 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/new-publication-in-the-trade-magazine-digitale-welt/ Publications are the basis of scientific work: scientists and practitioners all over the world use these results.

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]]> Deep Lattice Networks (DLN) https://www.m2hycon.de/en/news/practice/deep-lattice-networks-dln/ Mon, 21 Jun 2021 13:34:52 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/deep-lattice-networks-dln/ 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.

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]]> Bayesian statistics as an extension of machine learning methods https://www.m2hycon.de/en/news/wiki/bayesian-statistics-as-an-extension-of-machine-learning-methods/ Mon, 14 Jun 2021 09:33:53 +0000 https://dev.m2hycon.de/aktuelles/unkategorisiert/bayesian-statistics-as-an-extension-of-machine-learning-methods/ 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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