The real instigation behind the trustworthiness of Adjusted R Squared over R squared among data scientists — “Truth does not consist in minute accuracy of detail; but in conveying a right impression.” Henry Alford Introduction Regression analysis is one of the most fundamental but commanding machine learning techniques which is still predominant and made a way for many advanced kinds of research in the industry. Although there are…

The intuition behind Exponential smoothing, Holt linear, Holt winters, Various versions of ARIMA, and Performance evaluation metrics — “The future is something which everyone reaches at the rate of sixty minutes an hour, whatever he does, whoever he is” C.S. Lewis Hey learners, Welcome to the part -4 article of the time series analysis !!! Hope you had a great reading through my previous articles. In the previous…

The intuition behind the ARIMA algorithm for Time series forecasting — “If time travel is possible, where are the tourists from the future?” Stephen Hawking Welcome to Part-3 of my article!!! Hope you have gone through the previous 2 parts of this article so that you didn’t miss any knowledge. If you have missed those, here is the URL – Time…

The concept of Autoregression and Moving average — In my previous article, I tried to give a brief introduction to the characteristics of time series analysis with some real-world examples. As a learning phase of continuation, we will discuss the concepts behind Autoregression and Moving average. Please have a look through part 1 of this article in case…

An introduction to the Stationary process and Time-series characteristics — “Scars have the strange power to remind us that our past is real ” Cormac McCarthy Introduction Time series data is a collection of observations obtained through repeated measurements over time. As the world is becoming more technology-oriented, the collection of data dependent on time is becoming very easy. The…

An important data science interview question you will be facing (probably) — Life does not proceed by the association and addition of elements, but by dissociation and division. Henri Bergson Hey learners, If you are a person who worked on Association rules, you would have probably gone through the same question in your mind — “Why does lift have a bigger role…

A real-life demonstration of various types of machine learning variables — “In God we trust. All others must bring data” — W. Edwards Deming Introduction The understanding of types of variables is very important in the machine learning process to conduct and customize the data processing procedures efficiently. I have often seen some amount of confusion in understanding the grass-root meaning of…

Real-life examples of various probability distribution techniques — “The 50–50–90 rule: anytime you have a 50–50 chance of getting something right, there’s a 90% probability you’ll get it wrong.” ― Andy Rooney Introduction All of the parametric tests expect data to be in a certain type of data distribution to apply the statistical tests. However, the shape of the…

How close is your data to the normal distribution? — “Reality is partial to symmetry and slight anachronisms” Jorge Luis Borges Introduction Data skewness is one of the important challenges that data scientists often face in real-time case studies. Apart from certain business scenarios, most real-time experiments need data in any predefined data distribution and that is very rare without undergoing…