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Before conducting any formal statistical analysis, it’s important to conduct exploratory data analysis (EDA) to better understand the data and identify any patterns or relationships. EDA is an approach that involves using graphical and numerical methods to summarize and visualize the data. We can use summary statistics to do this.
And eCommerce companies have a ton of use cases where ML can help. The problem is, with more ML models and systems in production, you need to set up more infrastructure to reliably manage everything. And because of that, many companies decide to centralize this effort in an internal ML platform. But how to build it?
Statistics Understand descriptive statistics (mean, median, mode) and inferential statistics (hypothesistesting, confidence intervals). Perform exploratory Data Analysis (EDA) using Pandas and visualise your findings with Matplotlib or Seaborn. These concepts help you analyse and interpret data effectively.
In Inferential Statistics, you can learn P-Value , T-Value , HypothesisTesting , and A/B Testing , which will help you to understand your data in the form of mathematics. For Data Analysis you can focus on such topics as Feature Engineering , Data Wrangling , and EDA which is also known as Exploratory Data Analysis.
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