Richard Boire

Math vs. Data: Exploring the Big-Data Buzz

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SethBreedlove
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Re: Not so different
SethBreedlove   1/9/2013 7:51:05 PM
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As mentioned, research in labs and academia are pristine environments.  In business, it is much more messy.  A change in x will cause a change in y, but that might cause an unknown change in A, B,C.   In real life, individuals are not pool balls and may not go in the direction you hit them.  However, we are getting better at predicting.  A lighthouse doesn't get rid of the fog, but it is sure better than no lighthouse at all.  I think this is why five years is considered a long-term business plan here in the U.S.

Noreen Seebacher
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Re: Not so different
Noreen Seebacher   1/9/2013 11:35:01 AM
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Phil, what would you consider an ongoing issue?

philsimon
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Re: Not so different
philsimon   1/9/2013 10:32:57 AM
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The types of data are new. So are the amounts. Ditto the velocity. But many of the tools and issues are pretty similar to those previous decades.

rboire
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Re: Not so different
rboire   1/9/2013 10:03:27 AM
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I would agree with you that perhaps the new terms are more consumer-friendly. But I also think that definitions and descriptions regarding predictive analytics discipline have increased significantly due to increased public understanding of the value of analytics. The industry of predictive analytics is no longer the new frontier in business which it was 15 years ago. It is now more mainstream where consultants are attempting to brand the discipline with new terms such as data scientist.  Is that really different than a data miner which is what we called ourselves 15-20 years ago.         

BethSchultz
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Not so different
BethSchultz   1/9/2013 9:18:27 AM
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Hi Richard. I think one the benefits of framing the predictive analytics role in "consumer friendly" terms like big-data and data science makes the whole discipline more approachable for non-practitioners even if behind the scenes things haven't changed much. That's important in overcoming business resistance to using analytics-based decision making. 

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