A cohort is a group of people who share something in common within a specific time frame. For example, a group of people born in New York in the year 1991. This is an example of a “birth cohort”.
Similarly, in the business world cohorts are made up of customers or users. For example:
Cohorts basically make it easier to analyze user behavior and look at trends without having to look at each user individually.
In regression, the standard linear model describes a relationship between Y and a set of variables X1, X2, . . ., Xn and we fit this model using the least squares.
However, this standard linear model is not perfect and can be improved by using some fitting procedures. One such technique is “Shrinkage”.
It not only helps yield better prediction accuracy but also better model interpretability.
This approach helps in significantly reducing variance by shrinking the estimated coefficients towards 0 relative to the least square estimates i.e. we fit a model containing all the predictors using a method that regularizes…
Being a Business Analytics graduate student, I’ve always leveraged python’s open libraries: Matplotlib, Ggplot, Bokeh and Seaborn for data visualizations. From data analytics and visualization point of view these libraries are remarkable but the lengthy code part can sometimes be a tad time consuming. This is where Tableau comes in handy. A no-code interactive data visualization software that is useful for creating dashboards and analyzing data for data-driven decision making of a business.
To illustrate how easy it is to use Tableau, we’ll create a dashboard and conduct analysis on the COVID-19 in USA dataset available on Kaggle. This data…
Credit Card Fraud — Every business’s nightmare!
For years, we’ve been using credit cards everywhere, for everything - be it at gas station, groceries or (not to forget the most popular one) online shopping.
And why not? It gives us instant access to major purchasing power without the inconvenience of carrying large amount of bills.
But, not to forget, it also comes with a cost. Every so often we hear/read about credit card scams and wonder “ Could that possibly happen to me?”.
The answer is “YES!”
According to Nilson Report, credit card fraud is projected to reach $35.67 …
MSBA candidate at Columbia University