Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

The two main downsides to decision trees are that they often don't work well with large datasets, and they are highly susceptible to model overfitting. When tackling a binary classification problem, ...

Dr. James McCaffrey of Microsoft Research says the technique is easy to tune, works well with small datasets and produces highly interpretable predictions, but there are also trade-off cons. The goal ...

The visual data mining process, seen in the first part of this two-part article, revealed patterns in four dimensions between cumulative gas well production and independent variables. "Jump ...

Junior faculty are often told to protect their time, but nobody provides instructions for how to do so. As an assistant professor at a public university, I have struggled to balance my course load, my ...

One of the most important components of decision making is process organization. Using a decision tree to choose between different courses of action presents possible outcomes in graphic form, making ...

Many scientific problems entail labeling data items with one of a given, finite set of classes based on features of the data items. For example, oncologists classify tumors as different known cancer ...