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News / Blog: #machine-learning

What do you earn in Machine Learning?

08/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Salary in Machine Learning can vary widely depending on factors such as location, experience, education, industry, company, specific role in Machine Learning, and demand for professionals in the field. Here are rough guidelines for Machine Learning salary in different regions:

Europe:

Entry or Junior Machine Learning Engineer: €40,000 - €60,000 per year

Experienced Machine Learning Engineer: €60,000 - €100,000 per year

Senior Machine Learning Engineer or Subject Matter Expert: €100,000 and above per year

USA:

Entry or Junior Machine Learning Engineer: $70,000 - $90,000 per year

Experienced Machine Learning Engineer: $90,000 - $130,000 per year

Senior Machine Learning Engineer or Subject Matter Expert: $130,000 and up per year

It is important to note that these are only rough estimates and actual salaries can vary widely. Demand for machine learning professionals is high, especially in industries such as technology, finance, healthcare, and automotive.

The demand for machine learning professionals is high, especially in industries such as technology, finance, healthcare, and automotive.

Since there are different roles in Machine Learning, such as Machine Learning Engineers, Data Scientists, Machine Learning Researchers, etc., salaries can vary depending on the role. Specialization in areas such as Deep Learning, Natural Language Processing or Computer Vision can also have an impact on salary.

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Statistical methods: A guide to their application

07/11/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Statistical methods are an important part of many areas of science and everyday life. Whether testing the effectiveness of a new drug treatment, examining the relationship between different variables, or making decisions based on data, statistical methods help us extract relevant information from data and draw informed conclusions.

Here is a summary of some of the most important statistical methods and how they can be applied:

Descriptive Statistics: Descriptive statistics is a basic approach to analyzing data in which the data is described by statistical measures such as mean, median, standard deviation, and range. These measures help to understand the distribution of the data and identify trends.

Inferential Statistics: Inferential statistics allows us to infer a population from a sample. It uses probability and hypothesis testing to make inferences about the entire population based on data drawn from a sample.

Regression Analysis: Regression analysis is a method of studying the relationship between a dependent variable and one or more independent variables. It helps to quantify the influence of different factors on a dependent variable.

Time Series Analysis: Time series analysis is a method of examining data collected over a period of time. It helps to identify trends, seasonal patterns, and random fluctuations in the data and to make predictions about future trends.

Multivariate Analysis: Multivariate analysis includes a variety of methods for examining data that consists of multiple variables. It helps to identify and understand complex relationships between different variables.

The application of statistical methods requires an understanding of the underlying mathematical concepts and the proper interpretation of results. It is important to note that statistical methods are only as good as the quality of the data on which they are applied. Careful data collection and analysis are therefore essential to obtain accurate results.

In today's world, we have access to ever-increasing amounts of data that can be analyzed by computer programs and machine learning algorithms. Combined with the right statistical methods, we can gain valuable insights from this data and make informed decisions.

Conclusion:

Statistical methods are an indispensable tool for analyzing data and gaining insights.

I hope this article has been able to provide some insight into the importance of statistical methods and their application in online marketing. By collecting data and applying statistical methods, you can make decisions on a solid basis and optimize your marketing strategies. It is important to understand the underlying mathematical concepts and interpret the results carefully in order to draw meaningful conclusions.

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What is Mathematical Optimization?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Mathematical optimization is the process of finding the best solution to a problem, often under some constraints. It involves identifying the variables and objective function that describe the problem, specifying the constraints that the solution must satisfy, and then finding the values of the variables that optimize the objective function subject to the constraints.

Optimization problems can be classified into two main types: linear and nonlinear. In linear optimization, the objective function and the constraints are all linear functions of the variables, and the solution can be found using techniques such as linear programming. In nonlinear optimization, the objective function and/or the constraints are nonlinear, and more advanced techniques such as gradient descent or Newton's method may be required to find the optimal solution.

Optimization is used in a wide range of fields, including engineering, economics, finance, and operations research. Some common applications include portfolio optimization, scheduling and routing problems, and machine learning, among others.

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What is data extraction?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Data extraction refers to the process of extracting or capturing data from various sources such as text documents, web pages, databases, or other types of data sets. It is an important step in data analysis and is often used to identify specific information or patterns from unstructured data.

Extraction of data can be done manually or automated. Manual extraction is often time-consuming and can be error-prone, especially with large data sets. Automated extraction methods, such as web scraping tools or machine learning techniques, can make data extraction easier and faster.

The extracted data can be used for a variety of purposes, such as creating databases, performing analytics, or processing in other applications and systems.

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What is Google Performance Max?

04/12/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Google Performance Max is a Google Ads advertising option launched in February 2021. It is an automated advertising method based on Machine Learning that allows advertisers to serve their ads on various Google platforms, such as Google Search, Google Maps, YouTube, and others.

Unlike traditional Google ad campaigns that target specific audiences, keywords or websites, Google Performance Max uses machine learning algorithms to customize and optimize ads in real time to target audiences.

Advertisers only need to specify their budget and goal (e.g. lead generation or sales increase) and Google Performance Max takes care of the rest. Ads are automatically delivered on the most appropriate channels and at the best times.

Google Performance Max is considered a promising option for companies that do not have sufficient resources or experience in advertising, but still want to achieve maximum results.

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