It is not about what heart or guts says, it is about what numbers say and it is just a matter of finding the real meaning from it. And to find the real meaning, you need to learn to connect dots.
This is not the era when you would want to completely rely on your guts, you must want to study the data, too. And when it is about investments, it doesn’t matter how much, no person or a company would like to take a risk by not taking a fact-based decision. After realizing the importance of statistics, from coffee shop franchises to spaceship manufacturers are willing to invest millions of dollars in this field. Moreover, we are already surrounded by statistics like weather forecasts, retail stores, newspapers, restaurants or look up where you are sitting. You might will find another example, too.
Basically, it gives the power to determine the insight and solve problems related to science, business and society. Statistics is about collecting, organizing, analysing, interpreting and presenting data. You might feel that statistics and Data Science are the same but they are not! Statistics is something about mathematical models which data scientists use and combine it with the skill of programming to make a complex machine learning algorithm or artificial intelligence. For example, automatic transfer of suspicious mail to spam boxes in which machine learning is able to recognize suspicious mail because it has been trained from the historical data of mail patterns. Interesting isn’t it? The doom day from the terminator movie is not that far where robots will rule over humans. Just a joke!! But it may happen. Let’s see.
I made this blog, as a beginner statistician, to share my learned facts, mistakes, stories and news related to statistics and data science. In addition, I also expect to hear from you because I want to learn from you, too. So Let’s begin this journey.
You can drop me a message or email on my mentioned email ID if you have any questions or stories to share.