• Predictive Analytics: the Power to Predict Who Will Click, Buy, Lie, or Die See large image

    Predictive Analytics: the Power to Predict Who Will Click, Buy, Lie, or Die (Hardback) By (author) Eric S. Siegel, Foreword by Thomas H. Davenport


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    Description"The Freakonomics of big data." -- Stein Kretsinger , founding executive of Advertising.com; former lead analyst at Capital One This book is easily understood by all readers. Rather than a "how to" for hands-on techies, the book entices lay-readers and experts alike by covering new case studies and the latest state-of-the-art techniques. You have been predicted -- by companies, governments, law enforcement, hospitals, and universities. Their computers say, "I knew you were going to do that!" These institutions are seizing upon the power to predict whether you're going to click, buy, lie, or die. Why? For good reason: predicting human behavior combats financial risk, fortifies healthcare, conquers spam, toughens crime fighting, and boosts sales. How? Prediction is powered by the world's most potent, booming unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn. Predictive analytics unleashes the power of data. With this technology , the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future -- lifting a bit of the fog off our hazy view of tomorrow -- means pay dirt. In this rich, entertaining primer, former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction: What type of mortgage risk Chase Bank predicted before the recession. Predicting which people will drop out of school, cancel a subscription, or get divorced before they are even aware of it themselves. Why early retirement decreases life expectancy and vegetarians miss fewer flights. Five reasons why organizations predict death, including one health insurance company. How U.S. Bank, European wireless carrier Telenor, and Obama's 2012 campaign calculated the way to most strongly influence each individual. How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy! How companies ascertain untold, private truths -- how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job. How judges and parole boards rely on crime-predicting computers to decide who stays in prison and who goes free. What's predicted by the BBC, Citibank, ConEd, Facebook, Ford, Google, IBM, the IRS, Match.com, MTV, Netflix, Pandora, PayPal, Pfizer, and Wikipedia. A truly omnipresent science, predictive analytics affects everyone, every day. Although largely unseen, it drives millions of decisions, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate. Predictive analytics transcends human perception. This book's final chapter answers the riddle: What often happens to you that cannot be witnessed, and that you can't even be sure has happened afterward -- but that can be predicted in advance? Whether you are a consumer of it -- or consumed by it -- get a handle on the power of Predictive Analytics .

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  • Below average, not much to gain2

    Aris This book seemed to me like a narration of the field's history (a fancy one though, I can imagine the author making the Hollywood kind of voice). Or maybe like a very long advert (why would anyone want to create or consume an advert of a scientific field is a good question; if you have bought the book, you are already interested). You cannot take any higher level than that and in fact it is so high-level that the concepts go completely missing. I quickly found myself learning nothing more than history and despite, I carried on reading (maybe I went on to 70% of the book before quitting it) so as to be sure I am not missing something. Knowing the domain now more than when I purchased the book, I can safely say that if you are looking to gain an insight on the relevant concepts and ideas, you need to look elsewhere. Same goes even if you are looking for a pop-sci, high-level "Freakonomics" kind of reading. This book is nothing like it (as it is advertised). by Aris

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    Jesús Nieto Interesting reading but nothing else. by Jesús Nieto

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