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Benford's Law perfectly describes Bitcoin Volume

Benford's Law is one of most intriguing properties within data science. Benford's Law states the first digit in a set of natural numbers is not evenly distributed. Instead, 30.1% of first digits begin with a one, 17.6% begin with a two, 12.5% begin with a three and so on. I created a SPSS...

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Bitcoin's rise and fall in one chart

In preparing for a future blog post, I discovered a chart visualization that summarizes nicely the difference between Bitcoin in 2017 versus so far in 2018. This chart shows Bitcoin's volume vs the daily close (last transaction of the day) price in USD. Notice the strong positive slope...

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Bayesian Correlation is a Distribution: A Bitcoin Example

One of my peer offering managers recently tweeted about a nice tutorial of pulling crypto currency statistics. As a fan of Bitcoin, Etherium, and the other cryptos, I decided to pull the dataset into SPSS Statistics 25 to explore the data myself. In doing so, I used some of the new ...

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Unlock the secrets to employee retention with predictive analytics

If you work in human resources or have ever managed a team, then this scenario has probably happened to you. You have just received an email from one of your top-performing team members, notifying you of her resignation. The note contains no insight into why your valued employee is leaving, and...

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Putting intelligent insights to work for revenue growth and profitability

Chanes are you’ve heard a lot about the benefits of using predictive analytics to help you gain a competitive advantage in the marketplace, but you aren’t yet implementing it. You may assume that it’s too complicated or costly, or that it's too hard to use. Yet according to the latest Ventana...

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Online Tutorials and Case Studies for SPSS Statistics

Every release of IBM SPSS Statistics includes detailed documentation outlining how to use the latest features, but I was recently surprised to learn how many customers didn't know about the tutorials and case studies that are also included in the documentation. Tutorials are step-by-step...

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Register for the IBM SPSS Statistics Sponsored User Program

IBM SPSS Statistics is now accepting applications to participate in our Sponsored User Program. Sponsored users can participate in a number of different activities to provide feedback that will shape the future design, direction, and experience of SPSS Statistics. These activities may include...

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Join the CrowdChat: Experts discuss fraud analytics on July 7

Fraud can target organizations in many ways, and the costs of fraudulent transactions to businesses can be substantial. The key is to detect fraud early and stop it. It is impractical to examine a high volume of transactions manually - and that is where a predictive-analytics based fraud...

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CrowdChat: How to keep customers and grow your business with IBM SPSS

Smart predictions are essential for your organization's success. You need to know that there is demand for your products, forecast whether the product you’re developing will address a need, and be able to rely on data-driven predictions to target your ongoing customer retention, upsell/cross...

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k-fold Cross-validation in IBM SPSS Modeler

There are many different ways that one can evaluate the accuracy and stability of a predictive model and IBM SPSS Modeler natively includes support for several of these. The most commonly used method that is supported in Modeler is the "Holdout Method". In this method, the dataset is randomly...

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