Outliers deviate from the norm. But outliers can tell us more about our data, how we gather it, and what is in it, if we examine the data set carefully.
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Tony Agresta's curator insight,
December 3, 2013 2:48 PM
Here's another good post from Doug Wood of www.fightfinancialcrimes.com. Advances in technology are revolutionizing how fraud investigations are being done today. |
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At least 5% of data contains anomalies. Some are errors, many are valid. Try using the IQR, inter-quartile range, to determine whether outlier data is valid. Deleting outliers is another way, but there are better methods.