12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Heteroscedasticity is a term used in statistics to describe a non-uniformity in the measure of variation of data. It refers to a situation where the variation in the data in a given data set is not constant, but changes as the standard deviation from the baseline increases. A common example of heteroscedasticity is when the standard deviation of a data set increases as the value of the dependent variable increases.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data consolidation is a process of merging multiple data sources into a single one to provide a unified and consistent view of the data. It is commonly used in organizations to gain an enterprise-wide understanding of data stored in multiple formats and databases. It can help avoid duplication or excessive data repetition and increase data management efficiency.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Cross media refers to the combination of several media to achieve a common goal. This includes, for example, the combination of print, TV, radio, online and social media. Cross media exploits the respective strengths of the different media to achieve a goal more effectively. The aim is to increase the reach of a campaign and address the target group again and again.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A traffic network is a virtual network that allows advertisers to play their ads on different websites. It allows advertisers to distribute different types of ads to different audiences and thus increase traffic to their websites. Traffic networks can also be used to generate more leads and increase conversion rates.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Industry 4.0 is a concept that describes the digital transformation of industry. It refers to the fourth industrial revolution, in which machines, production facilities and devices are networked to exchange data and automate production. It builds on the previous industrial revolution and uses advanced technologies such as artificial intelligence, machine learning, the Internet of Things and robotics. Industry 4.0 can help increase productivity, optimize processes and accelerate innovation.