David Semmelroth

David Semmelroth has two decades of experience translating customer data into actionable insights across the financial services, travel, and entertainment industries. David has consulted for Cedar Fair, Wachovia, National City, and TD Bank.

Articles & Books From David Semmelroth

Cheat Sheet / Updated 03-10-2022
Summary statistical measures represent the key properties of a sample or population as a single numerical value. This has the advantage of providing important information in a very compact form. It also simplifies comparing multiple samples or populations. Summary statistical measures can be divided into three types: measures of central tendency, measures of central dispersion, and measures of association.
Article / Updated 03-26-2016
Healthcare is one area where big data has the potential to make dramatic improvements in the quality of life. The increasing availability of massive amounts of data and rapidly increasing computer power could enable researchers to make breakthroughs, such as the following: Predicting outbreaks of diseases Gaining a better understanding of the effectiveness and side effects of drugs Developing customized treatments based on patient histories Reducing the cost of developing new treatments One of the biggest challenges facing the use of big data in healthcare is that much of the data is stored in independent "silos.
Article / Updated 03-26-2016
A statistic is said to be robust if it isn’t strongly influenced by the presence of outliers. For example, the mean is not robust because it can be strongly affected by the presence of outliers. On the other hand, the median is robust — it isn’t affected by outliers. For example, suppose the following data represents a sample of household incomes in a small town (measured in thousands of dollars per year): 32, 47, 20, 25, 56 You compute the sample mean as the sum of the five observations divided by five: The sample mean is $36,000 per year.
Article / Updated 03-26-2016
Probability distributions is one of many statistical techniques that can be used to analyze data to find useful patterns. You use a probability distribution to compute the probabilities associated with the elements of a dataset: Binomial distribution: You would use the binomial distribution to analyze variables that can assume only one of two values.
Article / Updated 03-26-2016
Statistical software packages are extremely powerful these days, but they cannot overcome poor quality data. Following is a checklist of things you need to do before you go off building statistical models. Check data formats Your analysis always starts with a raw data file. Raw data files come in many different shapes and sizes.
Article / Updated 03-26-2016
Most datasets come with some sort of metadata, which is essentially a description of the data in the file. Metadata typically includes descriptions of the formats, some indication of what values are in each data field, and what these values mean. When you are faced with a new dataset, never take the metadata at face value.
Article / Updated 03-26-2016
The two basic types of probability distributions are known as discrete and continuous. Discrete distributions describe the properties of a random variable for which every individual outcome is assigned a positive probability. A random variable is actually a function; it assigns numerical values to the outcomes of a random process.
Article / Updated 03-26-2016
Hypothesis testing is a statistical technique that is used in a variety of situations. Though the technical details differ from situation to situation, all hypothesis tests use the same core set of terms and concepts. The following descriptions of common terms and concepts refer to a hypothesis test in which the means of two populations are being compared.
Article / Updated 03-26-2016
Several different types of graphs may be useful for analyzing data. These include stem-and-leaf plots, scatter plots, box plots, histograms, quantile-quantile (QQ) plots, and autocorrelation plots. A stem-and-leaf plot consists of a “stem” that reflects the categories in a data set and a “leaf” that shows each individual value in the data set.
Article / Updated 03-26-2016
One important way to draw conclusions about the properties of a population is with hypothesis testing. You can use hypothesis tests to compare a population measure to a specified value, compare measures for two populations, determine whether a population follows a specified probability distribution, and so forth.