October 28th 2013
Business Intelligence Software
I was honored to have my book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die reviewed by Doug Lautzenheiser at the Business Intelegence Software blog. Here is an excerpt from the review.
Learn from Big Data How to Predict the Future
Experts believe our collection of Big Data will double every two years until 2020.
Much of those digital artifacts come from people like you and me as we "Like" things on Facebook, buy books over the web, post blog entries, and share smartphone photos on Instagram. Yet only a fraction of this data is actually being used.
So what should we do with it?
Eric Siegel says that most valuable thing we can do with data is to "learn from it how to predict."
The founder of the Predictive Analytics World conference, Dr. Siegel is also the author of the bestselling book, "Predictive Analytics," with the catchy subtitle of "The Power to Predict Who Will Click, Buy, Lie, or Die."
I read his work right on the heals of taking a Coursera MOOC on Data Analysis and was pleased to get Siegel's common-sense clarifications of the same academic topics.
Throughout the book, Siegel provides real-life examples of how organizations use data and software to infer something unknown, perhaps imperfectly but often with surprising accuracy.
For example, Siegel covers how the retail giant Target Corporation uses predictive analytics to decide which of its shoppers might be pregnant and how financial services giant Chase predicts which customers might pay off mortgages early (good for the homeowner but bad for Chase since they lose interest payments).