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Data Analytics News
Medium
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The Hidden Cost of Data Sharing: Privacy Concerns in East Africa’s Digital Era
- Digital transformation in East Africa has raised concerns about the sharing of personal user data.
- Speakers at the East African Data Governance Conference highlighted the risks of unchecked data sharing and emphasized the need for stringent data governance frameworks.
- The establishment of the Public Benefits Organizations regulatory authority in Kenya aims to ensure responsible usage of personal data collected by various entities.
- The conference also addressed the role of multinational tech companies in harvesting data from East African users and questioned compliance with local privacy laws.
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Medium
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How Python Voila Can Be Your New Killer Visualization Superpower
- Python Voila is a tool that turns Jupyter Notebooks into interactive web apps without exposing the underlying code.
- Voila allows users to share data dashboards without the need for recipients to see or run Python code themselves.
- It is particularly useful for non-technical users who prefer a clean interface while still being able to interact with live data.
- The World Happiness Report 2023 dataset is used as an example to demonstrate the functionality of Voila in building interactive dashboards.
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Medium
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Estimating the Average Height in the USA Using the Monte Carlo Method
- The Monte Carlo Method is a statistical technique that uses repeated random sampling to approximate unknown values.
- To estimate the average height of the U.S. population, we compute sample means for different groups and repeat this process for a large number of trials.
- The Law of Large Numbers states that as the number of samples increases, the sample mean approaches the true population mean.
- A Monte Carlo simulation was run to estimate the average height in the USA, showing that the estimated mean stabilizes around the true value.
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Pymnts
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Markaaz CEO: Data Quality Helps Redefine FinTech Relationship Strength
- FinTechs now exist in granular, generic spaces where businesses are focused on impact and outcomes.
- Specialization and utility are critical for FinTechs to earn and maintain trust in the market.
- Markaaz platform improves data quality and verification, serving small-to-medium-sized businesses (SMBs) and allowing them to update data, gain financial insights, and connect with financing providers.
- Markaaz aims to extend its enterprise-level data capabilities to governments worldwide, ensuring adherence to data sharing and privacy requirements.
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Hackernoon
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How I Use Math to Solve Business Problems
- A structured and hypothesis-driven data analysis approach is crucial for solving complex business problems by breaking them down into smaller parts.
- Visualizing the user funnel stages – awareness, consideration, conversion, and retention - helps in identifying performance issues effectively.
- Distinguishing between external (supply and demand) and internal (system and user behavior) factors when analyzing business problems aids in decision-making.
- Analyzing channel-based traffic, platform breakdown, page-level performance, visitor metrics, component-level performance, and checkout flows can pinpoint performance issues accurately.
- Evaluating monthly data and change impact assists in identifying specific periods of decline and potential causes, enabling corrective action.
- This systematic approach helps data analysts in not just uncovering insights but also in developing actionable solutions for business problems.
- The method promotes a structured, step-by-step analysis that starts broadly and gradually narrows down to finer details for effective problem-solving.
- Understanding the users' journey and applying data-driven techniques can lead to meaningful outcomes when addressing business challenges.
- By aligning tools and methods with project needs, businesses can achieve more effective and tailored solutions for their unique problems.
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Medium
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SQL vs. Python for Data Analysis: Which One Should You Master First?
- SQL is a domain-specific language for managing and querying relational databases.
- Python excels in data manipulation, statistical analysis, and visualization.
- Use SQL for retrieving, filtering, and aggregating data from databases and managing database structures.
- Use Python for complex data manipulations, statistical analysis, machine learning, and creating visualizations.
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Medium
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Day 17: Combining Data with CONCATENATE and TEXTJOIN
- CONCATENATE is a classic Excel function used to merge text strings.
- However, it can become cumbersome with many strings and requires many clicks.
- TEXTJOIN is a more recent Excel function that offers a cleaner and more efficient way to combine text.
- It has advantages such as cleaner syntax, handling of ranges, and the ability to ignore empty cells.
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Medium
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From Data to Action: Leveraging AI for Product Insights
- AI-powered analytics offer a comprehensive approach to understanding product performance and consumer sentiment.
- AI algorithms can seamlessly ingest and analyze information from multiple sources, processing diverse data types at scale.
- Natural language processing (NLP) algorithms enable businesses to extract sentiment, identify keywords, and detect trends from textual data.
- AI-driven analytics unlock valuable insights, drive informed decision-making, and deliver exceptional customer experiences.
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TechDigest
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5 Innovative Ways Technology is Revolutionizing Small Business
- Automation tools streamline operations by automating repetitive tasks, reducing costs, and speeding up communication processes.
- AI enhances customer engagement by providing personalized experiences and 24/7 customer support through chatbots and virtual assistants.
- Cloud computing offers flexibility for small businesses, allowing access to data and tools from anywhere, facilitating remote work and collaboration.
- Data analytics tools help businesses make better decisions by analyzing customer behaviors and predicting market trends, giving them a competitive edge.
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Medium
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What is Regression? How is it Used? Differences Between Interpolation and Extrapolation
- Regression is a statistical method used to identify relationships between data by translating trends into a mathematical model.
- Interpolation is used to estimate missing values within a known data range, while extrapolation predicts values outside the existing data range.
- Interpolation is more reliable as it remains within the range of known data, whereas extrapolation carries more uncertainty.
- The choice between interpolation and extrapolation depends on the nature and distribution of the data, with various methods available for different scenarios.
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Medium
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82
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The Power of IF Statements in Excel
- An “IF statement” is a logical function in Excel that checks whether a condition is true or false, and then returns a value based on that condition.
- IF statements in Excel follow the structure: =IF(condition, value_if_true, value_if_false)
- IF statements allow you to categorize data based on conditions, making data analysis quicker and more efficient.
- Tips for using IF statements: combine multiple conditions, use nested IF statements, and be mindful of data types.
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Scrum-Master-Toolbox
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Substack Week: AI in Product Management, Enhancing Product Development Through Artificial Intelligence with Toni Dos Santos
- Toni Dos Santos discusses how AI is revolutionizing product management, automating tasks, and aiding decision-making to enhance product development.
- Starting his career in the music industry, Toni transitioned to banking and later explored AI in product management after the launch of ChatGPT in 2022.
- One key area where AI can assist product managers is in generating user stories based on given product descriptions, streamlining the process for teams.
- AI serves as a valuable tool to analyze user feedback, extract key pain points, and validate qualitative findings with quantitative data.
- Toni emphasizes that AI is crucial for product leaders in summarizing data, defining strategies, creating alignment, and generating strategic options.
- To incorporate AI effectively, product managers are advised to engage in hands-on experience, understand AI limitations, and focus on augmentation, not replacement.
- Toni recommends resources for further study, including books, newsletters, and AI courses, to deepen understanding and practical application of AI in product management.
- He recommends starting with practical experimentation, recognizing AI's error rate, treating AI interactions as conversations, and identifying areas where AI can augment human judgment.
- Toni Dos Santos, with over 15 years of experience in product strategy, specializes in accelerating time-to-market, sustainable growth, and aligning product strategies with business objectives.
- Listeners can connect with Toni Dos Santos on Substack for more insights on AI in product management and development.
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VentureBeat
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Voltron Data just partnered with Accenture to solve one of AI’s biggest headaches
- Voltron Data has partnered with Accenture to tackle the data preparation bottleneck in AI initiatives.
- Voltron Data's Theseus is a GPU-accelerated analytics engine that allows processing of petabyte-scale data using GPUs.
- The partnership aims to address the challenge of handling the volume and velocity of data required for AI initiatives.
- Early adoption of Theseus has been observed in data-intensive industries like financial services.
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Medium
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Python Panel vs. Streamlit for Geospatial Data Visualization
- Panel allows for advanced customization and control — while streamlit is easy to use, providing a quick way to turn scripts into interactive web apps.
- Panel allows for high levels of customization. It supports complex layouts, widgets, and multiple visualization libraries. The framework is highly interactive and scalable, making it well-suited for dashboards and exploratory data analysis.
- Panel requires more setup than some other tools. Running the script needs panel serve, which differs from a standard Python script execution. The learning curve is slightly steeper because it requires familiarity with hvPlot, GeoViews, and Bokeh.
- Streamlit provides a quick setup with minimal code required to create an interactive web app. The deployment process is simple and can be done easily through Streamlit Cloud. Streamlit is well-suited for beginners since it does not require handling complex layouts manually.
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TechBullion
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How AI is Transforming Data Analytics: A Guide for Tech Professionals
- AI has fundamentally changed data analytics, offering new capabilities in processing and interpreting large datasets.
- Machine learning algorithms in analytics can learn from data, adapt, and improve accuracy over time.
- AI-powered analytics have various applications in industries like finance and healthcare.
- Deep learning excels at processing unstructured data and identifying patterns that human analysts may miss.
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