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Statistical and Machine-Learning Data Mining
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The personal computer (PC) has changed everything—for both better and worse—in the world of statistics. The PC can effortlessly produce precise cal- culations and eliminate the computational burden associated with statistics. One need only provide the right questions. With the minimal knowledge required to program (instruct) statistical software, which entails telling it where the input data reside, which statistical procedures and calculations are desired, and where the output should go, tasks such as testing and ana- lyzing, the tabulation of raw data into summary measures, as well as many other statistical criteria are fairly rote. The PC has advanced statistical think- ing in the decision-making process, as evidenced by visual displays, such as bar charts and line graphs, animated three-dimensional rotating plots, and interactive marketing models found in management presentations. The PC also facilitates support documentation, which includes the calculations for measures such as the current mean profit across market segments from a marketing database; statistical output is copied from the statistical software and then pasted into the presentation application. Interpreting the output and drawing conclusions still requires human intervention.
Unfortunately, the confluence of the PC and the world of statistics has turned generalists with minimal statistical backgrounds into quasi statisti- cians and affords them a false sense of confidence because they can now produce statistical output. For instance, calculating the mean profit is stan- dard fare in business. However, the mean provides a “typical value”—only when the distribution of the data is symmetric. In marketing databases, the distribution of profit is commonly right-skewed data.* Thus, the mean profit is not a reliable summary measure.†
Bruce Ratner - Personal Name
1st Edtion
13: 978-1-4398-6092-
NONE
Statistical and Machine-Learning Data Mining
Information Technology
English
Taylor & Francis Group, LLC
2011
USA
1-524
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