This critical business-oriented and creative skill requires structured thinking and advanced execution strategies Most non-beginners know the various types of features which are important to create for building great models. There can be several such created features but only some of them provide value. …

One of the most impactful techniques of public policy research Synthetic Control Method (SCM) in layman terms First, a couple of paragraphs on A/B testing + Causal Inference for non-statisticians. In order to test whether my app’s new feature say ‘X’ has impact on the in-app purchase revenue, I would take a sample of app users, divide…

Data Strategy Most companies are looking for unique ways to create value from their data. So the very first thing for a professional data scientist is to completely understand the company they work for, its customers, data assets and the flow of data within its systems. Data Scientist can then create enormous…

In the age of leverage, it’s almost sinful to ignore smart work Asking the right questions This is one of the most important skills in any domain. It aggressively cuts the time wasted in wrong directions. What did you learn? I use this a lot. …

K-means and K-prototypes succeed only if you remove garbage and prioritize relevance While mathematical techniques like Weight of Evidence and Chi-Square Selector have their place, they are almost never sufficient. Domain knowledge is the key value addition. So besides mathematical methods, use this rule of thumb: Only select features which…

Marketing veterans have been unknowingly using behavioral economics decades before it was pioneered. Most vital benefit of studying marketing is that one learns how to understand people, which is a crucial skill for business and innovation. Let’s learn some marketing lessons: 1. Involve the consumer in the advertisement Advertisements which make the consumer’s brain participate are more…