Explaining Bayes’ Theorem with an Owambe

bayesian owambe

Bayes Theorem is an important approach in statistics for testing hypotheses and deriving estimates. According to Wikipedia: Bayes’ theorem (alternatively Bayes’ law or Bayes’ rule, also written as Bayes’s theorem) describes the probability of an event, based on prior knowledge of conditions that might be related to the event. For example, if cancer is related to age, then, using Bayes’ theorem, a person’s … Read more

Data for Business: The Art and Science of Customer Value Management

customer value

Background I’m writing this piece to make business leaders and companies stay conscious and keep track of their customer’s data, a huge goldmine that they can use to create competitive advantage and make smart decisions. Over the years, CEOs have only had to pay attention to their financial data. They’d read a one-page summary of … Read more

Introduction to Neural Networks – Part 1

What are neural networks? Humans can easily identify objects because the brain has “seen” (learned) the images of those objects before – as input, processes it and then identifies the object as a dog, book, stick e.t.c. However, this is extremely difficult for computers. Why? Because computers are primarily programmed for computational results. Computers compute! … Read more