Statistical modeling represents relationships or data-generating processes with mathematical or probabilistic models. Its first move is practical: understand the problem before choosing a technique. section 10.11
A problem-first modeling habit looks like this:
- Ask which problems are most pressing and whether solving them could reduce costs, increase revenue, or mitigate risk. section 10.11
- Research several possible solutions and techniques instead of assuming a fashionable tool is necessary. section 10.11
- Craft the model or solution around the problem rather than leading with the model. section 10.11
A simpler solution can win
A team considered using a large language model, but a senior developer solved the problem with regular expressions in an afternoon. The lesson is to match the technique to the need. section 10.11
