Beside the professional statistical software Online statistical computation , and the use of a scientific calculator is required for the course. A Scientific Calculator is the one, which has capability to give you, say, the result of square root of 5. Any calculator that goes beyond the 4 operations is fine for this course. These calculators allow you to perform simple calculations you need in this course, for example, enabling you to take square root, to raise e to the power of say, . and so on. These types of calculators are called general Scientific Calculators. There are also more specific and advanced calculators for mathematical computations in other areas such as Finance, Accounting, and even Statistics. The last one, for example, computes mean, variance, skewness, and kurtosis of a sample by simply entering all data one-by-one and then pressing any of the mean, variance, skewness, and kurtosis keys.
Why We Like It: It is a simple and original use of a Venn Diagram that’s quickly discernible. This chart is an quick way of showing how Big Data ROI increases as a company progresses from descriptive analytics to predictive analytics. I believe some might dispute the quantifiable ROI percentages (predictive analytics being too low), but it’s nice to see that they assigned a quantifiable ROI to descriptive analytics. Industry estimates are that 80% of all company-wide analytics are descriptive. With a quantifiable ROI of 80% that’s a lot of business value being created with descriptive analytics alone. When combined with prescriptive analytics, it’s an impressive 1-2 punch to the competition.