Statistics have been called “an engine of knowledge” by one risk management expert. And while it’s true that some business managers don’t have a fundamental grasp of statistical concepts, we also know there is opportunity for misuse of mathematics. Is statistics the “new grammar” or are…
Continue reading "Comfortable Speaking About Statistics?"Posts Tagged ‘analysis’
Thursday, April 29, 2010
Monday, November 2, 2009
Beyond ZIP +4 To Location Intelligence
In the United States, ZIP +4 assists marketers in targeting customers by city, neighborhood, or street, but geospatial location intelligence can help marketers perform much deeper analysis. And “analysis” is where the real value of geospatial lies.
A ZIP + 4 code according to Wikipedia; “uses …
Continue reading "Beyond ZIP +4 To Location Intelligence"Tuesday, March 10, 2009
No Magic Beans, No Magic Formulas
Blame for the global financial crisis has been cast upon government leaders, bankers, home owners, and quantitative analysts. In fact, mathematical models and formulas such as Black Scholes, Gaussian Copula, and VAR have received particular attention as culprits in this financial mess.
And whil…
Continue reading "No Magic Beans, No Magic Formulas"Wednesday, October 29, 2008
Can Mathematical Modeling Be Trusted?
Mathematical modeling is helping companies across the globe forecast more accurately, optimize supply chains, assess risk, and keep customers from churning to competitors. However, recent market conditions (i.e. credit crisis) have shown that while models can provide an “air of certainty”, solely…
Continue reading "Can Mathematical Modeling Be Trusted?"Tuesday, September 23, 2008
Is the Speed of Decision Making Accelerating?
As the forces of globalization continue to connect and intertwine commercial and financial markets, and new technologies come online in the marketplace, the time between “event” and “action” is rapidly closing.
In the past, managers could take weeks or days to make important decisions, however …
Continue reading "Is the Speed of Decision Making Accelerating?"Tuesday, July 15, 2008
In a Petabyte Age, Is Understanding Passé?
Analysts have estimated that the volume of data in enterprises of all sizes is doubling every two to three years. With the deluge of data, some companies are finding it makes more sense to discover and act upon patterns (i.e. customers who buy item X also buy item Y), rather than dig deeper and…
Continue reading "In a Petabyte Age, Is Understanding Passé?"Friday, September 14, 2007
The Perils Of Intuition
A hotel manager looks out in the lobby and notices a guest with a Hermes tie. Another is carrying a Prada handbag. In an instant and through “the power of the glance,” the hotelier decides these folks “look right” and are worth giving special attention. Unfortunately, this hotelier has probably just…
Continue reading "The Perils Of Intuition"