Many of you have heard buzzwords such as “data science,” “big data,” or the “Internet of Things” before. You’re able to piece together that these fields relate to each other and deal with analyzing data in some way, but maybe you’re not so sure what these terms really mean. That’s what I’m here to help with. As a newer member of the data science field, I developed this short data science guide based on my experiences and perspectives in an effort to help those who are just starting out. Read more
Tag Archive for: Predictive Modeling
Suppose you’re trying to build a model to predict respondents, and in your data set, about 3% of the population will respond (target = 1). Without applying any specific analysis techniques, your prediction results will likely be that every record is predicted as a non responder (predicted target = 0), making the prediction result insufficiently informative. This is due to the nature of this kind of information, which we call highly imbalanced data. Read more
How Data Scientists Find Order in Chaos
To help you understand Ironside’s philosophy on advanced analytics, data science, and predictive/prescriptive technologies, we thought it would be helpful to share insights directly from our data scientists.
This week I spoke with Pam Askar, who has over 10 years of quantitative research and predictive modeling experience and holds a PhD in Developmental Psychology from UConn. She worked in academia and the private sector as a psychology professor and a data modeler for a pharmaceutical market research firm before joining Ironside. This makes Pam uniquely qualified to both implement analysis strategies for clients and teach solutions in ways that ensure success. Regardless of the project, Pam’s deepest source of enjoyment is always the same: finding powerful solutions to complex problems that provide actionable business results. Read more
IBM SPSS Modeler 17 and Statistics 23 were officially released at the beginning of March 2015. There are several important changes in licensing structure and system infrastructure, as well as many innovative new functionality enhancements. This article will briefly introduce the enhancements added to Modeler 17 from a practical perspective. Something worth noting as you begin exploring this most recent round of upgrades is that Analytics Server will be heavily leveraged in a lot of these new features. Read more
Earlier this year, we published a newsletter article scratching the surface of the Text Analytics Premium add-on for IBM SPSS Modeler. It introduced the fundamentals of text analytics and the idea of extracting information from unstructured text data. In this follow-up article, we will dive more deeply into some of the more advanced topics to fully leverage the add-on’s functionalities. Read more
On June 17th, Ironside hosted a Customer Analytics for the Informed Executive webinar exploring how advanced analytics can help businesses attract and retain customers. This webinar reviews a variety of data science methods that can utilize extensive existing data to provide guidance on many functional areas within a company. Read more
Predictive Analytics 101
Business intelligence focuses on the identification and understanding of events that happened in the past; that is “what’s happened?” and “why has it happened?” Business imperatives and other constraints are increasingly driving organizations to look forward and use their data to ensure decisions that are being made today will lead to wins in the future. Predictive analytics has often been viewed with hesitation and intimidation and seen as only relevant to statistical specialists, but with the advent and evolution of the IBM SPSS solutions, the power of predictive analytics can be harnessed by a much broader group of users. This newsletter article describes what predictive analytics is, how it is used, when it is used, and how to integrate it into your organization. Read more
Smarter business decisions and a large return on investment can be among the key benefits of a predictive analytics solution. But all solutions are not created equal.
That’s why it’s critical not to miss our complimentary IBM SPSS Data Mining Workshop hosted by the Ironside Group and IBM. You will get hands-on experience with Modeler software to help you better understand the distinctive value of its easy-to-use, rapid-prototyping, predictive modeling capabilities. Read more