Every now and then, a data science practitioner will be tasked with making sense out of rare, extreme situations. And the good news is, there exist mathematical tools that can help you make sense of extreme events. And some of those tools are structured under a branch of probability which has (conveniently) been named Extreme Value Theory (EVT).

Embracing the turbulence

Or “can daedalean words actually help make more accurate descriptions of your random variable? Part 1: Kurtosis Is a common … More