Predictive analytics is “powered by the world’s most potent, booming unnatural resource: data.”
You have been predicted — by companies, governments, law enforcement, hospitals, and universities. Their computers say, “I knew you were going to do that!”
Great quotes from Eric Siegel.
http://bigthink.com/big-think-edge/you-can-predict-the-future
You CAN Predict the Future, and Influence It Too
We are better than ever at making predictions – whether you’re going to click, lie, buy or die, as Eric Siegel puts it.
In a lesson on Big Think Edge, the only forum on YouTube designed to help you get the skills you need to be successful in a rapidly changing world, Siegel, a former professor at Columbia University, shows how predictive analytics is “powered by the world’s most potent, booming unnatural resource: data.”
You have been predicted — by companies, governments, law enforcement, hospitals, and universities. Their computers say, “I knew you were going to do that!”
Netflix and Pandora predict the movies and music you will like. Online dating sites select possible matches for you based on your interests. Companies can predict whether you’re going to default on your credit card statements and whether you’re going to commit an act of fraud.
So what do governments and companies do with this gold mine? In the video below, Siegel tells Big Think that these entities not only have the power to predict the future “but also to influence the future.” And so can you.
Sign up for a free trial subscription on Big Think Edge and watch Siegel’s lesson here:
https://www.youtube.com/watch?v=Kriiamz9KqQ
— Describe how your company is using predictive analytics to influence any operational decisions? Do you analyze who is likely to respond before initiating a marketing campaign? If not, how could this help streamline operations in your department?– How are predictive analytics at work in your life? Do you use Netflix or Pandora to predict movies or music you will like? Have you used an online dating site that selects possible matches for you based on your interests? How has this worked out for you?
— Is the use of predictive analysis exposing people to other people, entertainment, or services that more accurately match their interests or is it pigeonholing people by suggesting things they may like based only on a limited amount of information on previous decisions they’ve made?
Watch the video below and sign up for your free trial to Big Think Edge today.