I recently had someone ask me, For years weve talked about changing analytics from 80% data prep and 20% analytics to 20% data prep and 80% analytics, yet we still seem stuck with 80% data prep. Why is that? It is a very good question about a very real issue that causes many people frustration. I believe that there is actually a good answer to it and that the perceived lack of … [Read more...] about Data Preparation: Is the Dream of Reversing the 80/20 Rule Dead?
One of the legendary events in the history of analytics was the original Netflix prize. The event led to a terrific example of the need to focus on not only theoretical results, but also pragmatically achievable results, when developing analytic processes. For those who arent familiar with the story, not quite 10 years ago, Netflix was having trouble achieving the desired … [Read more...] about Why Netflix Asked The Wrong Analytics Question
There is one purpose of collecting data that is obvious but worth a reminder: keeping important data in-house. The more data you own, the more likely it is you build the value that comes with it. Of course, the probability function is not linearly proportional so one cannot, generally (note the exception of Santa Claus), double the value of collected data by doubling its … [Read more...] about Corporate Big Data Fills Digital Trash Cans
Hold this thought: There are real golden nuggets of data that many organisations are oblivious to. But first lets look at business process management. Business process management, what is there not to like. It has revolutionised the way we organise and do business. Right? Your business is applying, measuring and managing the process, right? The process is king, its a great … [Read more...] about The Amazing World of Freds Big Data
The Volvo Ocean Race is the world's premier offshore race, an extraordinary test of sailing expertise and human endeavor, which started over 37 years ago. In the pas 4 decades, the race has changed a lot and today the teams will have to rely on Big Data to take the cup home. Since the last round the world race in 2011, all teams use identical 65-foot boats that were produced in … [Read more...] about Will Big Data Make The Difference in the Volvo Ocean Race?