Detect and Reduce Sample Bias in Predictive Analytics

Learn how to prevent one of the most common mistakes in Predictive Analytics
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  • Lectures 10
  • Length 30 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 7/2014 English

Course Description

One of the most common mistakes an analyst could make during a predictive modeling project is ignorance of sample bias in their data. The cost of making such mistake can be quite substantial to an organization's business outcome.

In this 30-min video course, we will share with you some secrets on how to avoid this mistake. You will learn the following topics:

  • What is sample bias, what cause sample bias, and why it is important to you?
  • Two different approaches to detect sample bias
  • Three different approaches to correct or reduce sample bias

At the end of the class, you should have gained sufficient knowledge to help you detect and reduce sample bias in future predictive modeling or advanced analytics projects.

What are the requirements?

  • Understanding of Basic Predictive Analytics Concepts

What am I going to get from this course?

  • Become awareness of sample bias in data analysis practice
  • Learn how to detect and correct sample bias in predictive analytics

What is the target audience?

  • Working professionals who want to learn predictive modeling skills
  • Graduates or undergraduates who want to explore their career opportunities in advanced analytics

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction and motivation
02:17

Explain the concept of sample bias with an illustration

03:43

Identify major sources of sample bias in practice with a real-world example

Explain why we should be concerned with sample bias through a credit risk modeling example

03:04

Example of sample bias in credit risk modeling

06:33

Detailed example on how a sample biases can lead to poor business outcome

Section 2: How to detect sample bias
03:06

Discuss sample bias detection approach 1: relationship pattern analysis

02:30

Discuss sample bias detection approach 2: variable distribution analysis

Section 3: How to reduce sample bias
02:36

Discuss sample bias reduction approach 1: random sample test

01:23

Discuss sample bias reduction approach 1: bias reduction modeling

03:58

Discuss sample bias reduction approach 1: reject inference

Section 4: Key learnings
01:01

Discuss 3 key takeways from this course

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Instructor Biography

Predictive Analytics, Advanced Analytics Made Simple

15+ years of professional experience on predictive modeling in different industries. Specialized in logistic regression, linear regression, generalized regression, survival analysis, decision tree, discriminant analysis, cluster analysis, and other advanced analytic. In-depth knowledge and experiences in customer acquisition, retention, and credit risk management. Developed training classes and taught classes to graduate students and other working professionals.

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