HomeAIHow is Causal Inference Totally different in Academia and Business? | by...

How is Causal Inference Totally different in Academia and Business? | by Zijing Zhu, PhD | Jan, 2024


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A Bonus Article for “The E-book of Why” Collection

In two months, we completed studying “The E-book of Why,” which gave us a glimpse into the fascinating world of causality. As promised, I’ve a bonus article to shut my first Learn with Me sequence formally.

Impressed by my very own background as a tutorial researcher who studied causal inference in economics throughout my Ph.D. program, in addition to my expertise as an information scientist within the trade constructing causal fashions to make demand forecasts, for the bonus article, I want to share my understanding of the idea of causal inference and the similarities and variations in how it’s utilized in tutorial and trade settings.

As a result of distinction within the nature and objective of educational analysis and trade purposes, the causal inference workflows are fairly totally different between the 2.

Velocity

Educational analysis normally operates at a slower tempo, from forming concepts to drawing ultimate conclusions. It focuses on constructing belief not solely on the causal conclusion itself but in addition on the information concerned, strategies used, and robustness of the analysis. Thus, oftentimes, the analysis course of is prolonged to validate knowledge eligibility, run sensitivity evaluation, take a look at causal constructions, and so forth.

Nonetheless, for enterprise, time is cash. Tech companies are extra sensible. They’d reasonably focus their assets on constructing scalable purposes that may be put into manufacturing and produce advantages rapidly. The price of ready for an ideal and generalizable mannequin is excessive. Thus, the trade would like to have a benchmark mannequin out there as a placeholder first earlier than fine-tuning and making changes.

Picture by Veri Ivanova on Unsplash

Methodology

Certainly, tutorial analysis is the supply of recent approaches and mechanisms for theoretical researchers. Nonetheless, empirical researchers who deal with observational research or experiments have a tendency to make use of commonplace and well-established methodologies. For instance, Distinction-in-Variations (DID)…



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