Introduction

Everything has a start and an end. This shall be our start.

All those who’ve read the about page know that I’m not sure what exactly this will be about and so on. And I somewhat seem to have a problem to find a start for my texts (I guess I’m not the only one) so please excuse me when I start this time again with I’m not sure what exactly this will be all about. It’s really just how it is. I never had a plan on what to write, which blog-post follows which blog-post. I just started this blog out of curiosity on how much it can help me and how much it can help others and maybe also to fill my free time a bit.

Nonetheless I think I owe you some kind of introduction some kind of reason why I’m doing this here. As already mentioned, I started this blog out of curiosity on how much it can help me and others. ME because I always was fascinated by maths and what you can do with maths but also because I start studying Econometrics and Operation Research next year and try to learn as much about the topic as I can until then. YOU because I hope I can explain the methods of using data and thinking logical based on data to you good enough, so you can use them and explore the power of data yourself.

What do I mean with power of data?

I suppose you all know that we all live in a time in which we have access to more data than we had ever before. A time in which almost every company collects as much data as they can. But why? Why do they care about that data? Suppose you’re an investor and somebody asks you for an investment. He/She is really enthusiastic and believes that his/her idea is a billion dollar idea. You have that feeling that it really could be a billion dollar idea. Would you just trust your feeling, risk your money? There might have been a time where it was a common approach to just trust your feelings but it isn’t nowadays. Data can tell you nowadays, in most of the cases, how big the potential of an idea really is.

For those who aren’t motivated yet, who maybe don’t care about money. Let’s suppose something else. Suppose you’ve a child, a boy or a girl. Your child is quite young yet but already very curious. You child asks you thousands of questions every day and you try to answer them all but sometimes you don’t have the time or not the knowledge to answer them. Wouldn’t it be nice then if there would be some sort of AI that could communicate in an appropriate way with your child and answer all the questions, maybe even in some videos created by the AI itself. An AI that would grow with the knowledge of your child. Data in combination with maths could make this possible. Maybe not yet but in the future.

Such ideas motivated me to choose my studies and to dive deeper into the topic of using data, analysing data, predicting outcomes and so on. And even though we won’t be able to realise the latter example, or at least not yet, I’m certain that my journey into the field of using data, analysing data and predicting things will empower me, and you if you accompany me on my journey, to do some great things and who knows maybe even some innovative, new things.

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