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I have built a model that scores 99.9% accuracy! Great! Fantastic!
This is what a colleague of mine calls the "Now what?" effect. After training, testing, and optimizing a model repeatedly, we get this fantastic performance on the evaluation set. Now it is the time to put your model to good use on real life, maybe streaming, data. This phase is called Model…
Added by Rosaria Silipo on June 23, 2015 at 1:28am — No Comments
No predictive model is going to be 100% accurate unless by chance. The nature of predictive modeling is to learn from the past and see into the future. Essentially, predictive modeling is just modeling. Think about why we use statistical models - so we can fit the data into a pattern of behavior and anticipate future results. It's all about how you use and interpret this model.
Crime analysts may use a tool similar to the following example on a robbery…Continue
Added by Nicole on September 5, 2013 at 12:00pm — No Comments
This article was also published on Smart Blogs
Eric Siegel, Ph.D.
Retirement kills more people than hard work ever did.
I'm not afraid of death; I just don't want to be there when it happens.
Who benefits by predicting your behavior? Organizations do—companies, government agencies,…
Added by Eric Siegel on March 4, 2013 at 12:08pm — No Comments
What's next is what's next… Predictive analytics is where business intelligence is going.
— Rick Whiting, InformationWeek
Ten Predictions for the First Hour of 2020
Good morning. It's January 2, 2020, the first workday of the year. As you drive to the office, the only thing predictive analytics doesn't do for you is steer the car (yet that's coming soon as well).
1. Anti-theft. As you enter your car, a predictive model establishes your…
Added by Eric Siegel on February 26, 2013 at 9:34am — No Comments
Here is the preface for Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die
By Eric Siegel, with a foreword from Tom Davenport
(Wiley, February 2013)
To order the book:…
Added by Eric Siegel on February 8, 2013 at 6:30am — No Comments
Added by Theodore Omtzigt on December 1, 2009 at 9:24am — No Comments