1. The purpose of analytics is to derive competitive advantage for the organization / firm / entity.2. Data alone does not yield competitive advantage.3. A sequence of progressive hypothesis testing is the most efficient and effective method to derive competitive advantage from data.4. Predicting the future requires an understanding of cause and effect.5. Correlation is not always Causality.6. Accuracy over Precision.7. It is possible for there to be two optimal, equally true, answers to a problem. (And Sometimes More!) (X^2 = 4, x=-2, 2). And what’s the point of the seven axioms? I’m stating, as clearly as possible, what I believe to be at the root of how analytics should be practiced and it should be anchored to reality. Explicit[…]
It is possible for there to be two optimal, equally true, answers to a problem (And sometimes more!). (X^2 = 4, x=-2, 2). .
Accuracy over Precision. .
I published seven axioms over the past week – in a not so humble fashion. I’m taking the James Burke line to heart and just putting it out there. The Seven Axioms are: 1. The purpose of analytics is to derive competitive advantage for the organization / firm / entity. 2. Data alone does not yield competitive advantage. 3. A sequence of progressive hypothesis testing is the most efficient and effective method to derive competitive advantage from data. 4. Predicting the future requires an understanding of cause and effect. 5. Correlation is not always Causality. 6. Accuracy over Precision. 7. It is possible for there to be two optimal, equally true, answers to a problem. (And Sometimes More!) (X^2 =[…]
I’m reading Sam Ladner’s thesis. It’s strong work, and quite possibly one of the best reading experiences I’ve had since “Reading Virtual Minds”. On Page 149, there’s a quote in explaining the common occurrence for ‘fires’ to occur as a result of low-ball estimation: Curt: Why do they have the fires? Sam: Yes Curt: There could be a million different reasons if you think about it, I mean, clients coming in with aggressive timelines period or everybody will come in with big dreams, right?…Like you never lose the champagne dream even if you’ve got a beer bottle budget, right? You always dream big but you might not be, like, okay…” And I’m in awe. What a gem. And I ask[…]
Correlation is not always Causality. .
Predicting the future requires an understanding of cause and effect. .
A sequence of progressive hypothesis testing is the most efficient and effective method to derive competitive advantage from data. .
Data alone does not yield competitive advantage. .
I’ve been reading four books simultaneously these days. Of course, I shouldn’t really say simultaneously. I can only read one at a time. More accurate language would be ‘jumping between four books’. The first is Sam Ladner’s excellent thesis on the commodification of time in the new economy. It’s a pretty awesome read. The second is Gladwell’s latest book. And it’s a manageable read because the chapters are well contained. It’s called “What the dog saw”, and that line is pulled from one of the Chapters on Caesar Milan. Fun! The third is a seminal 500 page book about competition. And it’s a sobering read. And the fourth is about mental structures in the new economy. And I haven’t decided[…]