Analytics Itself Must Be Adaptive
Excerpt: Using whatever model they formulate, business organizations have been doing forecasting for years, said Brenda Dietrich, vice president and CTO for business analytics at IBM. But the problem, she pointed out, was that people would build a forecast or predictive model and “use the same model and equations to analyze [whatever] new data over and over again, forever and ever”–until something changes unexpectedly or goes wrong, and by then, that model is no longer useful. In today’s era of big data, companies must regularly rebuild and refine their equations, because new history–and data–is created every day, Dietrich said in an interview here Monday.
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