Categories: Potpourri

Can analytics predict everything?

Peter Fader, a quantitative marketing professor from Wharton, believes that companies are unnecessarily complicating the job of making predictions. Simple probability models, often built in excel, can be far more powerful in many cases than complex statistical algorithms. He also believes that businesses can get by with much simpler and more powerful analytics if they stop worrying about why something will happen (which is a lot harder to answer) and just focus on what is predicted to happen.

Image courtesy of Stuart Miles at

“What Data Mining Can and Can’t Do”

Interested in a career in Data Science?
To learn more about Jigsaw’s Data Science with SAS Course – click here.
To learn more about Jigsaw’s Data Science with R Course – click here.
To learn more about Jigsaw’s Big Data Course – click here.

Published by

Recent Posts

Books on Analytics

Analytics is a vast field. At the one end, it overlaps with statistics and higher…

Career in analytics in a KPO

Do you love to explore and investigate information? Do you find spreadsheets to be a…

Indian companies using analytics

India has developed into the global hub for analytics. A large number of MNCs have…

IBM: Betting big on analytics

International Business Machines Corp. Or IBM as it is popularly known recently announced its restructuring…

How to build a successful career in analytics

So you have got a job as an analyst in your dream company? Here are…

What’s the sentiment on “sentiment analysis”?

What's the sentiment on "sentiment analysis"? Is the field ready to take off?