Summary: True prescriptive analytics requires the use of real optimization techniques that very few applications actually use. Here’s a refresher on optimization with examples of where and how they’re best used.
In this blog, I will be discussing some distinct types of data involved in feedback. The types that I will be covering are as follows: 1) structural; 2) event; 3) quantitative; 4) contextual; and 5) systemic. In 2014, I recall reading a number of blogs about three types of data: prescriptive, descriptive, and predictive. There was a data scientist apparently on tour lecturing extensively about these three types. I don't recall the individual's name. Well, prescription, description, and…Continue
Added by Don Philip Faithful on July 5, 2015 at 4:56am — No Comments
"Measurement owes its existence to Earth; estimation of quantity to measurement; calculation to estimation of quantity; balancing of chances to calculation; and victory to balancing of chances." - Sun Tzu, The Art of War (Translated by L. Giles)
The quote from Sun Tzu seems to suggest how a military leader gathers data; adapts to different situations; and makes decisions weighing the circumstances. It says that the balancing of chances depends on "calculation." I…Continue
Summary: Is the addition of “Prescriptive” analytics to our nomenclature really worthwhile or are we just confusing our customers?
I admit to being annoyed when this or that industry wag tries to coin a new term to describe some portion of the discipline we are already practicing. Some of these folks I think are…Continue
Many years ago, I attended a vocational college to learn skilled trade. I was taught about the behaviour of systems. I learned that after renovations to a house, the furnace might cycle on and off more frequently; this can leave some parts of the house too cold. A wood-burning stove or fireplace should be treated as a part of a system. Open doors and windows in the dwelling can cause exhaust from such appliances to enter living spaces. I realize that these particular examples of systems…Continue
Added by Don Philip Faithful on August 16, 2014 at 8:31am — No Comments
Smart organizations are using the power of data science and data produced by embedded sensors and machine devices to better measure performance, discover patterns, prevent problems, and improve…Continue
In this blog post, I describe my early experiences leading me to conclude, data as we know it tends to be "disembodied" - that is to say, often lacking any kind of connection to different types of bodies. When we talk about things being disembodied, I suspect some form of decapitation is…Continue
Added by Don Philip Faithful on October 27, 2013 at 1:30pm — No Comments
I have so far encountered two general types of data . . .
This is data that conforms to prescribed criteria. I sometimes describe it has the metrics of criteria or measurements of conformity. For instance, an organization might want to measure something potentially obscure like "efficiency." It therefore becomes necessary to establish under what conditions or criteria something is efficient. I describe…Continue
Added by Don Philip Faithful on October 24, 2013 at 1:05pm — No Comments