New Product Go/No-Go Made Easy: Market Research Insights
So, you’re launching new products and are unsure how, what, where, or when to conduct product market research. Luckily, we just hosted a great webinar on the matter. Four leading industry experts shared challenges and success stories (failures as well!), preferred methodologies, and answered attendees’ questions. Here are some of the key moments from the […]
The Different Shades of Accuracy
One of my customers requested that we develop a prediction model and set a goal of being “90% accurate” in our work. This brought forward a discussion of accuracy in machine learning models. While seemingly a straightforward goal, it’s not that simple. We must first define what we mean by “accuracy in machine learning models”. […]
Determining Sample Size and Ensuring Representativeness in Research
In the field of data research, where the main goal is to provide insights based on data, two key concepts serve as guidelines to ensure that our results are trustworthy: sample size and representativeness. What makes these two concepts so important? Picture this: a pharmaceutical company testing a groundbreaking new drug, its decisions hinging on the outcomes of […]
Is it worth it? The cost of better AI
As data scientists, we always strive to be accurate in our machine-learning/AI models, i.e., provide better predictions or improved responses to prompts (user queries). As business-oriented individuals, we always remember that more accurate models require more resources (e.g., money, research, personnel, additional data, compute power). There is a balance between accuracy 🎯 and cost 💵. […]
Unveiling the Hidden Patterns of Health: A Personal Data Exploration Journey
Join us on a fascinating journey into the depths of personal data exploration, where Alex, a curious data scientist, delves into the intricacies of his own health using cutting-edge technology. In the midst of illness, Alex’s insatiable curiosity leads him to develop a personalized app, shedding light on the hidden patterns within his coughing behavior. […]
Visualizing Variable Relationships: A Guide to Correlations & Correlograms
Correlations in data science unravel a rich tapestry of relationships among variables—positive, negative, and nuanced connections. Dive into how correlograms wield visual power, offering a swift glimpse into complex datasets, guiding initial analysis. But remember, while they illuminate pathways, further research unveils the complete narrative within your data.
About game theory in kindergarten parties
Friday mornings are our guilty pleasures (for my wife and me). You see, in Israel, Friday is an off day, and the kids are in kindergarten and school, so for a few hours, we have quality time together. We find ourselves a coffee shop and then do weekend arrangements or shopping. It’s possible if the […]
DIY tools in Market Research: Benefits and Problems
The DIY trend (“Do It Yourself”) has overtaken the world. It’s everywhere, and market research is not any different. Companies increasingly turn to DIY techniques to shorten the time from market research questions to answers, using internal employees and available technological platforms. This hasn’t always been the case. In the past, getting answers required skilled […]
How machine learning is used in social networks?
My daughter just turned 9. A few months ago, she asked me to uninstall the TikTok app from her mobile phone. TikTok started showing her videos of animal abuse, probably because its recommendation algorithm thought it would increase her viewing time. How is that related to machine learning though…?
What is Data Science? (and how it can help in your business)
Data Science is a relatively new scientific field. It started developing in the last decade and intermixes statistics, mathematics, and computer science. Data Science mainly concerns data analysis (similarly to statistics), utilizing various algorithms and programming languages (such as R and Python). Mostly working on large data sets (i.e., “Big Data”).The workflow of a data […]