Traditional Forecasting Methods As seen in Part 1, Forecasting is an important part of the demand planning strategy. Human beings have been cognizant of the importance of forecasting since time immemorial. We have forecasted weather patterns to understand mother nature to become an agrarian community from hunters and gatherers. While...
Container Orchestration - Kubernetes As we know how popular the Containers have become in today’s IT world. Most of the large organizations have moved out of their traditional approach of using virtual machines and started adapting Containers for deployment. Kubernetes (“koo-burr-NET-eez”) is the conventional pronunciation of a Greek word, meaning...
We will discuss different data normalisation methods such as value mapping normalisation, discretization normalisation, equal width discretization , egual frequency discretization and aggregation normalisation
Data Transformation | Normalisation techniques In the part 1 of the series we looked at the various methods of normalising the data including min-max and box-cox transformations. In this part we look at the following Value Mapping Discretization Equal Width Discretization Equal Frequency Discretization Aggregation Value Mapping Sometimes in the...
The process of normalisation entails converting numerical values into a new range using a mathematical function. Two common normalisation methods are min-max normalisation and z score normalisation
Data Transformation | Normalisation Techniques Almost always when we get raw data in any project, it is unfit for direct consumption for analysis or modelling . It is a especially a concern when the data volume is huge for example in a big data analytics project . In this blog...
Demand Planning An unsophisticated forecaster uses statistics as a drunken man uses lamp-posts - for support rather than for illumination. After Andrew Lang </em> All business planning is underpinned by forecasts - sales of new and existing products, availability of Raw materials. Yet no one has a crystal ball that...
