Monthly Archives: March 2015

Gamification Can Help People Actually Use Analytics Tools

Description: If you’re trying to use advanced analytics to improve your organization’s decisions, join the club. Most of the companies I talk to are embarked on just such a quest. But it’s a rocky one.

Source: HBR.com

Date: Feb 25, 2015

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The technological challenge is hard enough. You have to identify the right data and develop useful tools, such as predictive algorithms. But then comes an even tougher task: getting people to actually use the new tools.

Why is the people factor so important? It’s easy enough to automate routine decisions, such as identifying likely buyers for a product upgrade. But many decisions in today’s knowledge economy depend on expertise and experience. Think of bankers deciding on business loans, product developers determining tradeoffs between features and cost, or B2B sales reps figuring out which prospects to target. Analytics can help codify the logic of the best decision makers, but it can’t replace human judgment.  Read the rest of the Story

Questions for discussion:

1.  Why is the people factor so important in the use of data analytics?  explain

2.  Explain the following statement “Analytics can help codify the logic of the best decision makers”   —- can you think any industries where this holds true?

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Data Monopolists Like Google Are Threatening the Economy

Description: The White House recently released a report about the danger of big data in our lives. Its main focus was the same old topic of how it can hurt customer privacy.

Source: HBR.com

Date: March 2, 2015

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Federal government regulators must ask themselves: Should data that only one company owns, to the extent that it prevents others from entering the market, be considered a form of monopoly?

The search market is a perfect example of data as an unfair barrier-to-entry. Google revolutionized the search market in 1996 when it introduced a search-engine algorithm based on the concept of website importance — the famous PageRank algorithm. But search algorithms have significantly evolved since then, and today, most of the modern search engines are based on machine learning algorithms combining thousands of factors — only one of which is the PageRank of a website. Today, the most prominent factors are historical search query logs and their corresponding search result clicks. Studies show that the historical search improves search results up to 31%. In effect, today’s search engines cannot reach high-quality results without this historical user behavior.  Read the rest of the Story

Questions for discussion:

1.  Do monopolies  in the information markets hurt competition? yes or no   — explain.

2.  Do you see a lot of new entries into this marketspace in the future?  is that important?  explain