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Businesses now collect so much data that the resulting insights can not only describe customer behaviour in the present, but predict what it will look like in the future as well.
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Suggested by Centric Digital |
Scoop.it!
Luca Naso's insight:
Predictive analytics, or the ability to make accurate predictions, is based on good data and good algorithms. Every sensible data scientist knows this. It's good to see that this knowledge is spreading. Data alone, no matter how big, cannot give the right answers.
I believe that useful predictive analytics gives *accurate* predictions, not *exact* predictions. Predictive analytics which gives exact predictions is used in Science, not in Business.
And to Predicitve analysis!
Predictive analytics, or the ability to make accurate predictions, is based on good data and good algorithms. Every sensible data scientist knows this. It's good to see that this knowledge is spreading. Data alone, no matter how big, cannot give the right answers.
I believe that useful predictive analytics gives *accurate* predictions, not *exact* predictions. Predictive analytics which gives exact predictions is used in Science, not in Business.