How much does a single donut at Dunkin Donuts cost? Calling around to a few stores I received the following 4 answers: $0.50, $0.69, $0.99, or $1.29? Are the stores charging $1.29 overpriced? Are the stores offering it at $0.50 discounting too much? The answer is “yes, it depends”. This same question applies across the QSR spectrum.
Read More“How accurate does my model need to be?”
This is a question that I get asked all the time. The universal answer: It depends. Virtually any decision that a human makes can be modeled by the computer. IBM’s WATSON proved that playing Jeopardy. Was the WATSON always right? NO. Did IBM prove WATSON able to simulate human decision making? YES.
Read MoreWe make decisions everyday. Some big ones, some not so big, and most without really giving it much thought. Should I wear the white shirt or the blue one? What route do I take on my way to work? Do I want fries with my lunch?
Read MoreHow much value do your friends bring to you? Silly as this question may be, its one being asked in offices and boardrooms across the country. Companies are trying to understand how much a “fan”, a “follower”, or a “like” is worth. The most common response is, “I don’t know, but more is better.” However, in this case more isn’t always better.
Read MoreStudies, Surveys, and CEO’s all point to the same thing. Analytics and Data Insights are “The Top Priority” for companies.
Why then do so many firms struggle to glean maximum intelligence, if any, from their data? Why are they struggling to fill the exponentially growing number of open head counts they appear to be prioritizing.
If you don’t aim how can you hit your target?I’m amazed at how many times a week I get contacted for Data Insights assistance. Most of these requests go unanswered as they come across as bulk shotgun style emails that are quite leading. They are not aiming for anything, they are just looking for me to agree with what they’ve already decided. Well, if you already know the answer to your question, why are you asking me? “I’m a doctor, not a Captain, Jim”.
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