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BI Gone Awry: Don’t Do This With Your Data

Poll expert Sam Wang, from the Princeton Election Consortium, ate a cricket live on CNN after losing a bet. Based on his statistical analysis of presidential polls, he didn’t believe Donald J. Trump would win more than 240 Electoral College votes.

Data is a tricky thing. If you misread the data or overlook important points, you could end up in Wang’s place, erroneously making bets you think you can’t lose. While business intelligence isn’t the same as political data, the overall concepts involved are the same. You look at facts, data and relevant parameters. You build out predictions, strategies and investments based on that analysis. And sometimes, when you bet on these analyses, you bet it all. Unfortunately, though, you may have a lot to lose.

Source: business2community.com
Author: Liesha Petrovich

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