Beth Schultz

5 Tips for Predictive Modeling Success

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magneticnorth0
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Re: Yay for #4
magneticnorth0   8/31/2014 12:05:08 AM
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What a coincidence! I'll read that shortly. The iterative process may apply not only to modeling for customers; I can see it working for competitors, vendors, and even internal production processes, where occasional changes will dramatically affect the previous models.

BethSchultz
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Re: Yay for #4
BethSchultz   8/29/2014 1:16:43 PM
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@magneticnorth, funny you should mention the value of using iterative modeling in finance. We just posted on that  very topic! If you haven't yet had a chance to read the post, you might like to! See: Model & Remodel to Find Profitable Customers

magneticnorth0
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Yay for #4
magneticnorth0   8/29/2014 3:20:31 AM
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I like #4! It's like agile modeling. It totally makes sense in many contexts, especially in Finance. An iterative process will accommodate companies' gradual growth.

kq4ym
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Re: Covering the bases
kq4ym   8/25/2014 9:05:59 AM
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The tips brought home the idea of getting IT aboard the project. As stated jumping over the high fences sometimes will bring the process to a halt. Getting all those folks aboard will certainly smooth the way for building models and implementing them successfully.

BethSchultz
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Re: Covering the bases
BethSchultz   8/22/2014 10:52:48 AM
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Right, @Jim. Abbott clearly knows his stuff, but it's refreshing to hear how much he values the opportunity to learn from others, too -- sitting over their shoulders and watching how they'd tackle a problem versus how he would himself. Not everybody at his level is so willing to set egos aside and open themselves to new approaches and ideas.

Jamescon
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Covering the bases
Jamescon   8/22/2014 8:53:50 AM
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One of the things that Abbott brought to the radio show was the ability to look at a variety of factors (and people) that play a role in predictive analytics. On one hand he could delve into the technical aspects of building a model -- and the technical chops that are required on the team -- and then he could recognize the value of domain expertise.

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