Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

One of the most important components of decision making is process organization. Using a decision tree to choose between different courses of action presents possible outcomes in graphic form, making ...

In last month’s article, we touched on the importance of probability in our daily lives. We shared brain teasers and non-intuitive facts that highlighted how an understanding of probability can help ...

For example, you might want to predict the sex of a person (male or female) based on their age, state where they live, income and political leaning. There are many other techniques for binary ...

Dr. James McCaffrey of Microsoft Research says the technique is easy to tune, works well with small datasets and produces highly interpretable predictions, but there are also trade-off cons. The goal ...

The visual data mining process, seen in the first part of this two-part article, revealed patterns in four dimensions between cumulative gas well production and independent variables. "Jump ...