The Data Analytics Blog

Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.

All Posts

Truth Seeker: How To Avoid Logical Fallacies And Cognitive Biases In Data Science

May 10, 2019 at 10:19 AM

We have released a new eBook titled Truth Seeker: a guide to avoiding logical fallacies and cognitive biases in data science.

The eBook introduces a host of important concepts where analytics and philosophy collide and includes various links to webpages to learn more about each concept. The eBook aims to help readers improve their metacognition (thinking about thinking), which will help you avoid common mistakes regularly made in data analytics. 

The author of the eBook, Thomas Maydon, is the Head of Credit Solutions at Principa. With over 16 years of experience in the Southern African, West African and Middle Eastern retail credit markets, Thomas has primarily been involved in consulting, analytics, credit bureau and predictive modelling services.

For some time, I have been interested in sceptical thinking and how we as humans commonly make logic flaws in our thinking. Philosophers have classified these flaws in a long list of informal logical fallacies and cognitive biases.” says Maydon.

As an analyst and mathematician, I was interested in how these errors in thinking permeate into the world of data science. It was clear that these same logical flaws exist in analytics.

The free eBook is available for download here.

Truthseeker - logical fallacies

Latest Posts

Cash Vs Credit For Retailers: A Principa Case Study

Principa’s Cash Vs Credit offering uses advanced analytics to help retailers answer a variety of questions. We have undergone such projects for many of South Africa’s leading retailers, and this case study describes the methodology Principa utilises to help retailers in the fashion industry.

Introducing CollectSuite: Your Comprehensive Collections Execution Suite

We introduce our CollectSuite, aimed at providing organizations with a comprehensive collections execution suite.

A Calculated Guess: Affordability Determination In The South African Market

With a recent judgment being upheld in favour of the National Credit Regulator (NCR) against Shoprite Investments Limited, we thought it would be a good time to re-look at the process of affordability assessment.