This week we look at several case studies where success on the AI front was not sufficient to assure longer term business success. Our course spotlight is on:
Aug 20 – Sep 17: Introduction to Design of Experiments
Learn how to design experiments (especially costly ones) in ways that yield the most information for the least cost.
See you in class!
– Peter Bruce
Founder of The Institute for Statistics Education at Statistics.com
News You Need to Know
What’s happening in the field of Data Science, Analytics, Statistics?
AI Success, but Not Business Success
In their book Mining your Own Business, Jeff Deal and Gerhard Pilcher describe what I’ll call “The Case of the Climbing Churn.” A successful predictive model for identifying likely churners was deployed for a mobile phone service provider, but the end result was more, not less churn. Why? […]
WORD OF THE WEEK – Label Spreading
A common problem in machine learning is the “rare case” situation, where the class of interest (fraud, purchase by a web visitor, death of a patient) is rare enough that a data sample may not have enough instances to generate useful predictions. One way to deal with this problem is, in essence, data fabrication: we […]
BOOK REVIEW – Noise
Who would have thought that an entire book devoted to the bias-variance tradeoff would make it to the NY Times business best seller list? The book is […]