A time series is a series of data points, typically consisting of successive measurements made over a time interval. Time series forecasting is the process of using a model to generate predictions for future values in the series. The model is trained on historical data, and the predictions are generated by applying the model to … Read more
A positive correlation is a relationship between two variables in which both variables move in the same direction. In other words, as one variable increases, the other variable also increases. A positive correlation is represented by a positive sign (+). Positive correlations are found in nature, but they can also be created artificially, such as … Read more
A box plot is a graphical representation of data that uses rectangles to represent the distribution of a numeric variable. The bottom of the rectangle represents the first quartile of the data, the top represents the third quartile, and the line inside the rectangle represents the median. The height of the rectangle is also used … Read more
Mathematical induction is a method of mathematical proof typically used to establish that a given statement is true for all natural numbers greater than some base case number. The method is analogous to that of complete induction, used in proving statements for arbitrarily large integers. In essence, mathematical induction proves a given statement by showing … Read more
An inductive argument is an argument that uses specific cases to support a general conclusion. In other words, it uses specific observations to make a generalization. For example, if you observe that the sun has risen every day for the past week, you might inductively conclude that the sun will rise tomorrow. The key feature … Read more
The Gartner Magic Quadrant is a graphical representation of a market that analyzes and classifies companies into four categories: Leaders, Challengers, Visionaries, and Niche Players. The Magic Quadrant is produced by Gartner, a leading research and advisory firm. The Leaders quadrant is composed of companies that are recognized as market leaders. These companies have a … Read more
A focus group is a small, but representative, group of individuals who are selected to participate in a guided discussion about a particular topic. The discussion is led by a moderator who is trained to keep the conversation on track and to elicit detailed responses from the participants. Focus groups are used to gather information … Read more
The halo effect is a type of cognitive bias in which our overall impression of a person, place, or thing influences how we feel and think about that person, place, or thing in other areas. For example, if we have a generally positive impression of someone, we’re more likely to see them as competent and … Read more
Confabulation is a phenomenon in which people fill in gaps in their memories with false or fabricated information. This can happen in both healthy people and those with memory impairments, such as Alzheimer’s disease. There are several theories about why confabulation occurs. One theory is that the brain fills in gaps in memory with information … Read more
Data democratization is the process of making data accessible to everyone in an organization, regardless of their technical expertise or job role. It is a key part of a data-driven culture, where everyone is empowered to make data-informed decisions. Organizations that practice data democratization typically have centralized data platforms that are easy to use and … Read more
