The way A/B testing is done in many—if not most—companies today, p-values and significance are pretty much meaningless. Still, decision models often only allow treatments to be implemented if they achieved a "significant uplift". One better alternative is to employ a Bayesian approach which allows to report probabilities for minimum uplifts and to calculate ROI on a case-by-case basis.
In this article I want to recommend five books that I believe are essentials in trying times like these: Rosling et al.'s Factfulness; Marcus Aurelius' Meditations; Epictetus' Enchiridion; Seneca's On the Shortness of Life; and Dobelli's The Art of Thinking Clearly.
Abstract: In the first year, a clear majority of the investigated companies secured more than $0.395m of seed or angel funding; in the second year, a clear majority secured more than $4.366m of Series A or venture funding; and in the third year, a clear majority secured more than $11.131m of Series B funding. At… Continue reading What Do Highly Successful Start-ups Have in Common?
In 2015 I was not as busy as last year when it came to blogging, mainly due to my new job and my PhD thesis. But still, the WordPress.com stats helper monkeys prepared a very nice 2015 annual report for Twenty Oh Eight. I vow that I'm gonna post more regularly again next year! In case… Continue reading My 2015 in Blogging
In my capacity as the chief data analyst of bitstars, it's one of my key responsibilities to regularly compile all relevant figures concerning our web platform HoloBuilder. These figures are mostly intended for people who don't have the time to dive deeply into some fancy but complicated statistics. Hence, from the user experience perspective it's… Continue reading How ’bout some fancy dashboards for ya? Power BI vs. Geckoboard
The WordPress.com stats helper monkeys prepared a 2014 annual report for my blog Twenty Oh Eight that went online on January 18 🙂 Click here to see the complete report. The concert hall at the Sydney Opera House holds 2,700 people. This blog was viewed about 11,000 times in 2014. If it were a concert at… Continue reading My 2014 in Blogging
Recently, my post about motherfuckingwebsite.com was featured on the front page of Y Combinator's Hacker News. I was watching football with some friends when my WordPress app told me twice that my blog's stats "are exploding". Back at home, I checked my stats and noticed that I had almost 6,000 unique visitors and over 7,000 views… Continue reading How to do Power Law Regression in R, or What Happened When One of my Posts Made it to the Front Page of Hacker News