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Jeffrey Ng's Blog – March 2013 Archive (2)

Why bother building a model while you have a good human doing the work?

Stunned by the Senior Management's basic and fundamental question, I spent a lot of hard time thinking through it. Finally I get part of the ultimate answer: Predictive Analytics move faster and more frequent than human being. What I mean is:

Predictive model is run to react to every change of independent variables: Building a good model of relating consumer's purchase behavior is only part of the story. What is more important is the trigger of the model can be defined and run at a…

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Added by Jeffrey Ng on March 9, 2013 at 8:55am — 7 Comments

What is the additional information the predictive model brings?

I was challenged by a Senior management of the company with such a question and I was speechless.

I built models based on the data. Without much knowledge about the key variables, the model generated a very interesting result which are consistent with the knowledge of the Senior Managers. I've expressed that Predictive Modeling for marketing activities can bring in more clients, improve cross-selling, revenues per clients, loyalty of the clients, blah blah blah all those textbook…

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Added by Jeffrey Ng on March 4, 2013 at 7:38am — 1 Comment

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