The holy grail of predictive analytics is to provide business users with direct access to the power of predictive analytics without exposing them to unnecessary risk. The risk, in this case, comes when business users don’t fully understand the powerful tools that they are wielding and then acting upon inaccurate or non-robust predictions.
Several companies are navigating these dangerous but bountiful waters by utilizing principles of biological evolution. These systems create variants of ‘pretty good’ models and then test them to see if any of these variants are better than the original. If so then they try variants of those improved models. The process stops when optimal accuracy is achieved.
Author: Stephen J. Smith