≡ Menu

bias

I blogged last week about IBM’s AI approach and one piece was still under NDA – new capabilities around trust and transparency. These capabilities were announced today. As part of trying to address the challenges of AI, IBM has added a trust and transparency layer to its ladder of AI capabilities (described here). They see [...]

Jeff Ma, he of the book Bringing Down the House about winning at Blackjack, gave the closing keynote on advanced analytics. First he asked what can you learn from Blackjack Reduce the casino’s (or your competitor’s) edge For instance basic blackjack strategy executed perfectly reduces your losses by 50% Avoid omission bias People favor risk [...]

Next up at IBM Insights is the Advanced Analytics keynote with a focus on how to get insight out of all these new data sources and infrastructure. The session is focused on Spark, on hybrid cloud-on premise solutions and on trusted data. Companies are moving up maturity curve they say, moving from cost reduction to [...]

There was an interesting article from McKinsey this month – The benefits—and limits—of decision models – by Phil Rosenzweig. As Phil points out using models (and he is talking about analytic models) helps avoid common biases that undermine leaders’ judgments such as over confidence, a focus on recent data etc. And I would add not just leaders – it also [...]

I got an update from the folks at FICO on the new release of Model Builder, their predictive analytics workbench. My last update was for Blaze Advisor 6.9 and Model Builder 7.0 and this release, Model Builder 7.1, is the first point release for Model Builder on the new 7.x platform. For those of you [...]

Top 10 analytic mistakes

Syndicated from Smart Data Collective One of my favorite presenters, John Elder, presented his top 10 analytic mistakes at Teradata Partners. Lack Data is problem zero – obviously you need data to do data mining and analytics. Without data that is relevant to the problem you cannot use analytics to solve it. In particular it [...]

Meri Gruber had an interesting post on her Competing on Execution blog this week – Zappos: Make Me Happier with Business Analytics – that prompted me to want to add my own thoughts. She says: Why is Zappos only offering me help from other customers, when they are sitting on a wealth of order (and [...]

Malcolm Gladwell took the stage to present next. Malcolm is the author of some great books (such as Blink, reviewed here, and Outliers). Gladwell began by noting that Vegas seems an odd place to hold a conference on analytics! His first story was about art – a dealer brings a new statue to the Getty, [...]