Quality Control: In the context of data science, quality control is the process of ensuring that data is accurate and reliable. This can be done through a variety of techniques, such as checking for inconsistencies, verifying the source of the data, and performing statistical tests. By making sure that data is of high quality, analysts can be confident in their findings and conclusions.
Definition of Time-Series Time-Series: A time-series is a sequence of data points, usually measured at successive points in time. Time-series analysis is the process of examining these data points in order to identify and understand trends and patterns. Time-series data can be used to predict future events, track performance over time, or measure the impact…
Confusion Matrix: A confusion matrix is a table that is used to summarize the performance of a classification algorithm. The table shows how many times each class was predicted by the algorithm and …
Definition of Jaccard Index Jaccard Index: The Jaccard Index is a statistic used to measure the similarity of two sets. It is calculated by dividing the number of elements in both sets that are common to both sets by the total number of elements in both sets. What is Jaccard Index used for? The Jaccard…
Definition of Latent Class Analysis Latent Class Analysis: A technique used to identify unobserved (latent) classes within a population. How is a Latent Class Analysis used? Latent Class Analysis (LCA) is a statistical technique used to identify latent classes within data sets. These latent classes are clusters of data points with similar characteristics, which can…
Definition of Statistics Statistics: Statistics is the practice of collecting, analyzing, and drawing conclusions from data.