Dec 19, 2013

Predictive Analytics and Prescriptive Analytics

Few days ago I read a post by Javier Lafuente Garcia clarifying the differences between predictive and prescriptive analytics. The author lays clear and concise definitions as well as points some applications of each type. I like the way he does that and I would like to share it.

Dec 11, 2013

Developing Big Data Analytics Strategy

The torrent of big data and analytics articles rarely touches on how to get to the point where all the nice charts and discoveries magically appear out of the analysts hands (keyboards actually). Getting an organization to the point of producing meaningful results requires a mountain of focused efforts. I have recently came across of an article that concisely and comprehensively covers the steps leading making (big) data analytics possible and meaningful.

Dec 6, 2013

Better Human Understanding, Not Big Data, Is the Future of Business

Recently I came across a nice article that articulates some of the issues with the data analytics in organizations and too much relying on it. In the height of the big data hype it is a sane reminder of the limitations of data as a business driver. No need retelling you the story - read it yourself here.

Dec 4, 2013

Markets' Natural Levels And Natural Drivers

Recent hype of all sorts of data analysis, big data and expanding application of complex math make more and more media and people refer to macroeconomic indicators when explaining what is going on. This is OK for overviews and inconsequential analysis to fill up air time and gap between drinks. When it comes to analysis that would have impact on business and government decision these factors have to be  accompanied with understanding of real drivers behind processes. Rarely I hear this type though. We should not forget that real-world processes are driven by real people and companies making decision based on their incentives, beliefs, legislation, etc. Maybe it is the scientist in me speaking but we should always search for the reasons  for one thing or another to happen. That leads to the idea of the "natural level" of each market or any other field of interest.