Good Data and Experienced Analysts
Custom-engineered models, created internally or by data mining professionals with thorough understanding of the specific context, are superior because of two factors:
This article discusses the value of good data and the human element.
"One extravagant claim is that experienced human analysts will no longer be required," Wheaton says. "The problem is that it is easy to write software to identify statistical patterns in the data. But, it is a lot more difficult to figure out which of these patterns makes business sense and will hold up over time."
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- Knowledge of the data
- The human element
This article discusses the value of good data and the human element.
"One extravagant claim is that experienced human analysts will no longer be required," Wheaton says. "The problem is that it is easy to write software to identify statistical patterns in the data. But, it is a lot more difficult to figure out which of these patterns makes business sense and will hold up over time."
Read more
Labels: Analytics concepts
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