May 06, 2015
Published By : Analytics Magazine
By Anuj Kumar - Vice President, Fractal Analytics
In their book “Freakonomics,” Levitt and Dubner note that the average adult in a global sample has one breast and one testicle – an extreme example of being precisely inaccurate. Unfortunately, not all sampling produces insights that are precisely inaccurate and as stark and easy to catch. Hence, they go unnoticed or even worse, they are noticed and serve as the basis for decisions that lead to losses and heartache.
Analytics is a combination of science and art (the left and the right brain) where the science may paint the picture of a one-testicle, single-breasted customer, but the art should ensure that the image that is identified is incorrect and therefore should be modified.