Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
The Simpson's Paradox is a phenomenon in statistics illustrating how easy it is to misinterpret data. (Click to Tweet!) It occurs mainly in descriptive and diagnostic analytics (see our blog on the different types of analytics) where an analyst may jump to a conclusion driven by motivated reasoning and not by objectively assessing the evidence.
As part of our blog series on cognitive biases and logical fallacies that data scientists should avoid, today we address a prevalent logical fallacy: the "correlation proves causation" fallacy. Correlation due to causation is just one of the five main categories of causation, and this blog will look into each of the five.
During the last year, we’ve experienced the escalation of social issues around artificial intelligence (AI), with Elon Musk leading the charge. Musk continues to advocate the idea that humanity is getting closer to a Skynet-like future – to many people’s concern. One of the very real and valid concerns is the idea that many existing jobs will be automated, thanks to AI.
The Principa brand is unique and memorable as it is associated with creativity, integrity, innovation and deep expertise. Our website and blogs embodies every extraordinary aspect of our brand and we are very proud of it. We bring the same remarkable elements from this digital world, into our offices and into every interaction we have. Apart from the Principa team and our clients with whom we have an established relationship, not many people understand the elements that define our brand. I’d like to take this opportunity to introduce you to the wonders behind Principa.
“We must develop a comprehensive and globally shared view of how technology is affecting our lives and reshaping our economic, social, cultural, and human environments. There has never been a time of greater promise, or greater peril.” - Klaus Schwab, Founder and Executive Chairman, World Economic Forum (Click to Tweet!)