A wonderful weekend is at your doorstep, and Dexlab is back with the weekly recap session where key big data trends, news and interesting facts are discussed to help you get an edge over your peers. So without delay, let’s move on to important topics like the best skills for budding data scientists, Central Limit Theorem, the secret behind Netflix’s success, the technologies that help manage Facebook’s data and our industry-relevant customer marketing analytics course.
In this article, we take up one of the most important concepts in statistics, the Central Limit Theorem (CLT), which is extensively applied to solve real-world problems. Central limit theorem gives the flexibility of not knowing the exact distribution of a data set, given the population size is very large. If the sample size is large enough, using CLT the underlying distribution can be approximated to a normal distribution, which in turn helps drawing ‘’large sample inference’’ about population parameters. Hence, analyzing very large data sets becomes easier. Read more.
Data science is a discipline that has applications in almost every other subject and its popularity in the world of science and technology is ever-increasing. But the gap between demand and supply of skilled professionals is wide. In this article, we have extensively discussed one of the major challenges the big data industry faces – to prepare inexperienced graduates for high-level jobs in the industry. In this regard, James Abdey, assistant professorial lecturer of Statistics, London School of Economics says, ‘’Today there is no shortage of data or computing abilities but there is a shortage of workforce equipped with the right skill set that can interpret data and get valuable insights,”. To excel in a data science job, you need to develop a varied skillset, including analytical thinking, decision-making, etc. Read the full blog here.
A whopping 58.5 million users in the US alone and over 80 million international subscribers! Have you ever wondered the factors behind this phenomenal success of Netflix, which is clearly transforming the entertainment industry! The secret is essentially the intelligent use of data. Watch the video.
Want to build and sharpen your skills in customer and marketing analytics, enroll for the marketing analytics course at DexLab Analytics; it is very industry-relevant and we are offering a free demo session on this course on the 2nd of June. Register now. Learn more on the fundamentals of customer and marketing analytics through these videos.
FB uploads lakhs and lakhs of pictures, comments and statuses every minute…Data science enthusiasts must feel intrigued to know about the tools and technologies this popular social media platform uses to manage this massive volume of data. Facebook uses a cloud storage facility to store data. Read more.
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