Aug 19 2014

Step by step guide to extract insights from free text (unstructured data)


Text Mining is one of the most complex analysis in the industry of analytics. The reason for this is that, while doing text mining, we deal with unstructured data. We do not have clearly defined observation and variables (rows and columns). Hence, for doing any kind of analytics, you need to first convert this unstructured …

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Aug 18 2014

Market mix modeling – Simplified!

deepak rk

US market spends on an average more than $140 Billion on just marketing every year. Provided that marketing is such an important component of the total expense by every company, it is very essential to know the actual benefit from these marketing campaign. But today, marketing is not done using a single channel. Every company …

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Aug 14 2014

Bring it on! Analytics Vidhya Author identification challenge


What is the best form of analytics learning? Applying it to practical problems! This is exactly what led us to create this interesting problem, solving which would be a lot of fun! The challenge should be a good combo of basic text mining and predictive modeling. If you haven’t got your hands dirty learning these …

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Aug 13 2014

How Big data & Analytics can help Government agencies run better?

shiva baba

Over the past decade or so, analytics has undergone a rapid transformation. During its initial stages, analytics was used more as a reactionary measure i.e., to observe the business trends of the past. So, there was a significant time lapse between the pain points and the corresponding course correction. But over the years, analytics bridged …

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Aug 12 2014

Baby steps in Python – Exploratory analysis in Python (using Pandas)


In the last 2 posts of this series, we looked at how to install Python with iPython interface and several useful libraries and data structures, which are available in Python. If you have not gone through these posts and are new to Python, I would recommend that you go through the previous posts before going …

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Aug 08 2014

Training review – A Big Data Course with a ‘Big’ Difference from Jigsaw Academy

bk image 1

Big Data has emerged as one of the fastest growing fields in recent times and every business is looking to leverage Big Data to get ahead of the competition. It’s thus not surprising that the demand for skilled Big Data professionals is huge and far exceeds the current supply. So much so, that those with …

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Aug 07 2014

Visualizing product relationships in a market Basket analysis


Last week had been very hectic. I had slogged more than 100 hours to come out with an awesome recommender based on market basket analysis. “Now was the time to shine!” I thought, just before the meeting with stakeholders was about to start. I had prepared a good presentation and was feeling confident about the …

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Aug 04 2014

Effective Cross Selling using Market Basket Analysis

Have you come across a hair-dresser in the saloon offering you to undergo a head massage or a hair coloring when you go for your hair-cut? How many times have you seen a more relevant product being recommended and offered at a discounted price when you make a checkout in an online store? It’s almost …

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Jul 30 2014

How to interpret hidden state in Latent Markov Model

Markov chain

In some of my previous articles, I have illustrated how Markov model can be used in real life forecasting problems. As described in these articles, Simple Markov model cannot be used for customer level predictions, because it does not take into account any covariates for predictions. Latent Markov model is a modified version of the …

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Jul 27 2014

Review: Qlik Sense Desktop – Is this the next gen visualization tool you need?

Qlik Sense_image1

QlikTech recently announced a free version of its next-generation data visualization application – Qlik Sense. According to QlikTech, the product delivers a simple drag-and-drop interface for business users to rapidly create interactive visualizations, reports, and dashboards.  If you have been following QlikTech, Qlik Sense Desktop is the first commercially available release from the much talked about …

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Jul 23 2014

Solve a business case using simple Markov Chain


Markov process fits into many real life scenarios. Any sequence of event that can be approximated by Markov chain assumption, can be predicted using Markov chain algorithm. In the last article, we explained What is a Markov chain and how can we represent it graphically or using Matrices. In this article, we will go a …

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Jul 21 2014

Using statistics: How to understand population distributions?


One of the common queries, which I get on the blog is: I am not a Mathematics / Statistics graduate. Can I still become a good business analyst? or I am not good at statistics. Can I still change my career to become a business analyst? The simple answer to the question is – you …

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Jul 17 2014

Introduction to Markov chain : simplified!

Markov chain is a simple concept which can explain most complicated real time processes.Speech recognition, Text identifiers, Path recognition and many other Artificial intelligence tools use this simple principle called Markov chain in some form. In this article we will illustrate how easy it is to understand this concept.   Markov chain is based on …

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Jul 15 2014

Baby steps in Python – Libraries and data structures


In one of the posts last month, we started taking baby steps in learning Python for data analysis. This post will take you one step ahead in your journey to learn Python. By end of this post, you will understand the role of several python libraries and various kinds of data structures used in Python. …

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Jul 13 2014

How to use “VLOOKUP()” like functionality in QlikView?


Whenever I interact with a Qlikview user, who has migrated from Excel recently – one of the most common queries which comes through is: “How do I apply VLOOKUP() in Qlikview?” For the starters, VLOOKUP is the excel way of joining 2 datasets through a common key. It is somewhat similar to joins in SQL. …

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