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

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A Bonus Article for “The Guide of Why” Sequence

In two months, we completed studying “The Guide 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 collection 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 educational and trade settings.

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

Pace

Tutorial 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 additionally 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, check causal constructions, and so forth.

Nonetheless, for enterprise, time is cash. Tech companies are extra sensible. They’d moderately focus their sources on constructing scalable functions that may be put into manufacturing and convey advantages shortly. 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.

Photograph by Veri Ivanova on Unsplash

Technique

Certainly, educational 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 customary and well-established methodologies. For instance, Distinction-in-Variations (DID)…

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