Michael Fitzgerald wrote a great piece of the MIT Sloan Management Review this week – The Four Traps of Predictive Analytics. Michael saw me present at an event for Predixion in Boston and then went on to chat with me a couple of times. It’s a great piece, highlighting four critical issues around predictive analytics:
- The need to really understand what you want to decide using analytics before you develop them
- The need to begin with operational decisions not strategic ones
- The need to industrialize analytics not treat it as a cottage industry
- And the need to avoid being paralyzed by weakness in your data
Check out the article and drop me a line if you have any questions.