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What is the concept of BIAS in estimation and how to reduce it?

10/25/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The concept of BIAS in estimation refers to a systematic deviation of the estimated values ​​from the actual values. It occurs when the estimation procedure contains systematic errors or assumptions that skew the results.

There are several ways to reduce the BIAS in the estimate:

Selection of a suitable estimation method: Choosing the right estimation method is important in order to minimize the BIAS. Different methods have different properties and assumptions that can lead to bias. Therefore, the most appropriate estimation method should be selected for the specific use case.

Considering sample bias: A sample may be biased if it is not representative of the entire population. To reduce BIAS, care should be taken to use a random and representative sample. This can be achieved by appropriate sampling methods.

Checking of model assumptions: Estimation methods are often based on certain assumptions about the distribution of the data. Failure to meet these assumptions can lead to bias. It is important to review the model assumptions and make appropriate adjustments to reduce BIAS.

Using larger samples: A larger sample can help reduce BIAS by providing a better estimate of the actual parameters. With larger samples, the estimate usually approaches the true value.

Sensitivity analysis: A sensitivity analysis can help evaluate the influence of different assumptions or parameters on the estimate. By varying assumptions or parameters, the BIAS can be identified and minimized.

Avoiding selection bias: Selection bias occurs when certain data points or observations are omitted due to bias in selection or inclusion criteria. It is important to recognize the possibility of selection bias and take steps to avoid it.

It should be noted that BIAS cannot always be completely eliminated as in some cases it may be based on inherent limitations or limited information. However, reducing the BIAS is an important goal in the estimation in order to achieve the most accurate and reliable results possible.

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Spoilt for choice: How to choose the right PR software

10/25/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In today's digitised PR landscape, the use of PR software is crucial to communicate efficiently and effectively with media, clients and stakeholders. But when it comes to choosing the right PR software, the variety of options available can be overwhelming. This article will give you a guide on how to choose the right PR software for your needs.

1. Define your goals and requirements

Before you start looking for PR software, it is crucial to clearly define your goals and requirements. Think about what you want to achieve with the software. Do you want media monitoring, press release distribution, contact management, social media analysis or a combination of these functions? Clearly defining your goals will help you make the right choice.

2. Set a budget

Set a budget for your PR software. Prices can vary significantly depending on the features and scope of the software. Make sure you factor in long-term costs, including licensing fees, training, and support.

3. Do thorough research

Search for PR software providers and make a list of potential candidates. Read reviews, look for customer references and ask PR forums or colleagues for recommendations. Thorough research is crucial to check the quality and reputation of the provider.

4. Check the features

Make sure the software you choose offers the features that meet your needs. This includes media monitoring, contact management, press release distribution, analytics and more. A demo or free trial can help you review the user interface and functionality of the software.

5. Integration and compatibility

Consider how well the PR software can integrate with the other tools and platforms in your organisation. Seamless integration with CRM systems, social media platforms and other communication tools can increase efficiency

6. Usability

Usability is a crucial factor. The software should be easy to learn and use to save time and resources. Training materials and customer support are also important

7. Support and training

Check what kind of customer support the provider offers. Are training courses or training materials available? Reliable support is crucial if problems occur or questions arise.

8. Privacy and security

Since PR software contains sensitive data such as contacts and communications, privacy and security is paramount. Ensure that the software has robust security measures implemented and complies with data protection guidelines.

9. Flexibility and scalability

Your PR needs may change over time. Choose software that is flexible and can be easily adapted to meet your growing needs.

10. Test before you buy

Before you decide on a contract, use trial versions or free trial periods to try out the software in your real working environment. This will allow you to ensure that the software meets your expectations.

Choosing the right PR software takes time and research, but it is well worth the investment. With well-chosen software, you can optimise your PR work, increase efficiency and measure the success of your campaigns. Take the time to make the right decision and PR software will become a valuable tool in your communication strategy.

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How to become a professional photographer?

10/25/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

To become a professional photographer requires a deeper dedication and a strategic approach in addition to the basic steps I have already mentioned. Here are some steps to make the transition to becoming a professional photographer:

Deepen your skills: Perfect your photography skills and techniques in your preferred genre. This means continuing to practice, but also exploring more advanced techniques needed in your specific field:

Specialise: Choose one or more photography genres in which you would like to specialise. This could be portraiture, wedding photography, fashion, product photography, architecture, landscape or another area.

Invest in equipment: As a professional, you may need higher quality equipment and backup equipment. Plan carefully and invest in equipment that meets the needs of your specialisation.<7p>

Create a portfolio: Your portfolio is your business card. It should show a selection of your best work in your chosen specialisation. A convincing portfolio is crucial to attract clients.

Continue your education: Education is important to keep up with the latest trends and technologies in photography. Attend workshops, seminars or online courses and learn from other professionals.

Gain hands-on experience: Work on real projects and assignments to gain experience and expand your portfolio. You can do this by assisting experienced photographers or by working on freelance assignments.

Market yourself: Self-promotion is crucial to attract clients. Create a professional website, use social media to showcase your work and work on an effective marketing plan.

Build client relationships: Relationships with your clients are important. Provide excellent customer service, be reliable and meet your customers' expectations.

Understand the business side: As a professional photographer, you need to be on top of the business aspects. This includes bookkeeping, contract negotiations, pricing and managing licences and rights.

Patience and perseverance: The road to becoming a professional photographer can be long and challenging. Stay patient, work hard and don't be discouraged by setbacks.

Legal and ethical considerations: Know the laws and regulations related to photography, especially regarding copyright and privacy. Adhere to ethical standards and respect the privacy and wishes of your clients.

Networking: Build a network in the photography industry. This can give you access to new clients, colleagues and opportunities.

It is important to note that the transition to becoming a professional photographer can take time, and you will likely need other sources of income in the beginning. However, perseverance and developing your skills and brand can lead to a fulfilling and lucrative career as a professional photographer.

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Public Relations Jobs - How to find the right one for you

10/24/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The world of public relations (PR) offers a variety of exciting and challenging career opportunities. From press officers to social media managers to PR consultants, PR jobs are in demand like never before. But how do you find the right job in this dynamic and diverse field? In this article, you will learn how to find your way into the world of PR.

1. Education and qualifications:

A good first step on the path to a career in public relations is to invest in the right education and qualifications. A bachelor's degree in communications, journalism, public relations or a related field is often the starting point. In addition, relevant further education, certificates and internships can strengthen your qualifications.

2. Identify your interests:

PR is a broad field that covers many specialties. Consider which aspects of PR interest you most. Do you want to manage media relations, do crisis communications or work in digital PR? Identifying your interests will help you in your job search.

3. Networking:

In the PR industry, networking is crucial. Join trade associations, PR organisations and networking groups. Attend conferences and events to network and keep up to date with current trends and opportunities.

4. Practical experience:

Practical experience is key to finding a job in PR. Complete internships, freelance assignments or volunteer work at PR agencies, companies or non-profit organisations. These experiences will help you develop your skills and expand your professional network.

5. Online presence:

In today's digital world, a strong online presence is essential. Create a professional LinkedIn profile and showcase your expertise on social media. Potential employers appreciate applicants who are actively engaged in the online PR community.

6. Applications and interviews:

Apply specifically for jobs that match your interests and skills. Tailor your application documents to each position and prepare for interviews. Emphasise your practical experience, skills and commitment to PR.

7. Industry knowledge:

Keep up to date with the latest developments in the PR industry. Read trade journals, blogs and books to expand your knowledge and improve your skills.

8. Be patient and persistent:

Job hunting in PR can be competitive and it can take some time to find the right position. Stay patient and persistent, and use feedback from rejections to help you move forward.

Conclusion: Discover the world of PR

The world of public relations offers diverse and exciting career opportunities for creative, communicative people. With the right education, hands-on experience, networking and commitment, you can find your way to your dream job in PR. Take advantage of the many resources and opportunities available to you to find your place in this dynamic industry.

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How to recognise fake providers on the internet

10/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Digitalisation has fundamentally changed shopping and the service provider landscape. While the internet offers a wealth of opportunities, it also poses risks in the form of fake providers targeting unsuspecting consumers. In this article, you will learn how to spot fake providers and protect yourself from fraudulent schemes.

1. Check the website address (URL):

The URL of a website can already provide the first clues to its legitimacy. Look out for spelling mistakes or unusual deviations from known domain names. Fake providers often use slightly altered or similar domain names to cause confusion.

2. Research the provider:

Use search engines to find information about the provider. Reputable companies usually have an online presence and are listed in business directories or on social media. If any online trace is missing or there is little information, you should be cautious.

3. Check contact information:

A reliable contact information is a must. Check the contact details provided, such as phone number and address. Missing or incomplete contact information is an alarm signal.

4. Look for customer ratings and reviews:

Search for independent customer ratings and reviews of the provider. Platforms such as Google Reviews, Trustpilot or Yelp can offer helpful insights. However, be sceptical here too, as fake reviews can go both ways.

5. Pay attention to payment methods:

Serious providers often offer established and trustworthy payment methods. Be wary if you are offered only unusual or untraceable payment options.

6. Distrust unrealistic offers:

If an offer seems too good to be true, it may be just that. Fake sellers often lure you in with extremely low prices or unrealistic promises. Remain sceptical and research thoroughly before engaging with such offers.

7. Pay attention to grammar and writing style:

Look out for spelling mistakes and unusual wording on the website or in emails. Serious companies value professional communication.

8. Use secure connections:

When you shop online, make sure the website uses a secure connection. You can tell by "https://" in the URL and a lock icon in the browser address bar.

Conclusion: Caution is the key

The internet offers many advantages, but also some risks. To protect yourself from fake providers, caution and thorough research is crucial. If something seems too good to be true, it often is not. Trust your instincts and use the tips above to spot fake sellers and protect yourself from potential scams. Your wealth and security are at stake, so be vigilant.

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