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Scott Mongeau's Blog – March 2013 Archive (1)

Model Risk: When is a business analytics model ‘validated’?

In Jorge Luis Borges’ parable “On Rigor in Science” (“Del rigor en la ciencia”), a lost empire attains such perfection in the art of cartography that a one-for-one scale map of the empire is produced, laid-out across the land.  In time, the creation is understandably deemed useless and subsequent generations ambivalently witness the decay of the map (Borges, 1975).  Borges’ critique is that of a science which seeks to perfectly validate, one-to-one, its…

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Added by Scott Mongeau on March 14, 2013 at 2:48am — No Comments

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