Data Science Glossary

Plain-language definitions of the data science words in Bianca’s tutorials and projects.

A B C D L M Q R

A

  • Adstock

    A way of measuring the effect an advertisement has on demand over time. It depends on two things: the decay of an…

B

  • Bayesian Inference

    A method of assigning a probability distribution to a parameter, so that the uncertainty about its value is expressed rather than hidden.…

C

  • Churn Rate

    The share of a company’s customers who have stopped, or are going to stop, using its services during a period, compared with…

D

  • Data Science

    The practice of using data, statistics and programming to understand a problem, solve it, and explain the answer clearly. Bianca Data sums…

L

  • Logistic Regression

    A statistical model that estimates the probability of a yes-or-no outcome, such as whether a customer will leave, from a set of…

M

  • Marketing-Mix Modelling

    A statistical way of estimating how much each advertising channel contributes to sales, so that a business can predict future sales and…

  • Markov Chain Monte Carlo

    MCMC: a method that approximates the posterior distribution of a model’s parameters by random sampling in a many-dimensional probability space. It is…

Q

  • Quick Sort

    A divide and conquer sorting algorithm. It picks one element as the pivot, moves the smaller elements to the left of the…

R

  • Random Forest

    A machine learning classifier that combines the votes of many decision trees. In Bianca’s customer churn rate project it predicted which bank…

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