Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, Edition 2

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"Mesmerizing & fascinating..." The Seattle Post-Intelligencer

"The Freakonomics of big data." —Stein Kretsinger, founding executive of Advertising.com

Award-winning | Used by over 30 universities | Translated into 9 languages

An introduction for everyone. In this rich, fascinating — surprisingly accessible — introduction, leading expert Eric Siegel reveals how predictive analytics (aka machine learning) works, and how it affects everyone every day. Rather than a “how to” for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques.

Prediction is booming. It reinvents industries and runs the world. Companies, governments, law enforcement, hospitals, and universities are seizing upon the power. These institutions predict whether you're going to click, buy, lie, or die.

Why? For good reason: predicting human behavior combats risk, boosts sales, fortifies healthcare, streamlines manufacturing, conquers spam, optimizes social networks, toughens crime fighting, and wins elections.

How? Prediction is powered by the world's most potent, flourishing unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn.

Predictive analytics (aka machine learning) unleashes the power of data. With this technology, the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future drives millions of decisions more effectively, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate.

In this lucid, captivating introduction — now in its Revised and Updated edition — former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction:

  • What type of mortgage risk Chase Bank predicted before the recession.
  • Predicting which people will drop out of school, cancel a subscription, or get divorced before they even know it themselves.
  • Why early retirement predicts a shorter life expectancy and vegetarians miss fewer flights.
  • Five reasons why organizations predict death — including one health insurance company.
  • How U.S. Bank and Obama for America calculated the way to most strongly persuade each individual.
  • Why the NSA wants all your data: machine learning supercomputers to fight terrorism.
  • How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy!
  • How companies ascertain untold, private truths — how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job.
  • How judges and parole boards rely on crime-predicting computers to decide how long convicts remain in prison.
  • 182 examples from Airbnb, the BBC, Citibank, ConEd, Facebook, Ford, Google, the IRS, LinkedIn, Match.com, MTV, Netflix, PayPal, Pfizer, Spotify, Uber, UPS, Wikipedia, and more.

How does predictive analytics work? This jam-packed book satisfies by demystifying the intriguing science under the hood. For future hands-on practitioners pursuing a career in the field, it sets a strong foundation, delivers the prerequisite knowledge, and whets your appetite for more.

A truly omnipresent science, predictive analytics constantly affects our daily lives. Whether you are a consumer of it — or consumed by it — get a handle on the power of Predictive Analytics.

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About the author

ERIC SIEGEL, PhD, is the founder of Predictive Analytics World and executive editor of The Predictive Analytics Times. A former Columbia University professor, he is a renowned speaker, educator, and leader in the field.

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Additional Information

Publisher
John Wiley & Sons
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Published on
Jan 12, 2016
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Pages
368
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ISBN
9781119153658
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Language
English
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Genres
Business & Economics / Advertising & Promotion
Business & Economics / Consumer Behavior
Business & Economics / Econometrics
Business & Economics / Marketing / General
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Content Protection
This content is DRM protected.
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Available on Android devices
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"Mesmerizing & fascinating..." —The Seattle Post-Intelligencer

"The Freakonomics of big data." —Stein Kretsinger, founding executive of Advertising.com

Award-winning | Used by over 30 universities | Translated into 9 languages

An introduction for everyone. In this rich, fascinating — surprisingly accessible — introduction, leading expert Eric Siegel reveals how predictive analytics (aka machine learning) works, and how it affects everyone every day. Rather than a “how to” for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques.

Prediction is booming. It reinvents industries and runs the world. Companies, governments, law enforcement, hospitals, and universities are seizing upon the power. These institutions predict whether you're going to click, buy, lie, or die.

Why? For good reason: predicting human behavior combats risk, boosts sales, fortifies healthcare, streamlines manufacturing, conquers spam, optimizes social networks, toughens crime fighting, and wins elections.

How? Prediction is powered by the world's most potent, flourishing unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn.

Predictive analytics (aka machine learning) unleashes the power of data. With this technology, the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future drives millions of decisions more effectively, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate.

In this lucid, captivating introduction — now in its Revised and Updated edition — former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction:

What type of mortgage risk Chase Bank predicted before the recession.Predicting which people will drop out of school, cancel a subscription, or get divorced before they even know it themselves.Why early retirement predicts a shorter life expectancy and vegetarians miss fewer flights.Five reasons why organizations predict death — including one health insurance company.How U.S. Bank and Obama for America calculated the way to most strongly persuade each individual.Why the NSA wants all your data: machine learning supercomputers to fight terrorism.How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy!How companies ascertain untold, private truths — how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job.How judges and parole boards rely on crime-predicting computers to decide how long convicts remain in prison.182 examples from Airbnb, the BBC, Citibank, ConEd, Facebook, Ford, Google, the IRS, LinkedIn, Match.com, MTV, Netflix, PayPal, Pfizer, Spotify, Uber, UPS, Wikipedia, and more.

How does predictive analytics work? This jam-packed book satisfies by demystifying the intriguing science under the hood. For future hands-on practitioners pursuing a career in the field, it sets a strong foundation, delivers the prerequisite knowledge, and whets your appetite for more.

A truly omnipresent science, predictive analytics constantly affects our daily lives. Whether you are a consumer of it — or consumed by it — get a handle on the power of Predictive Analytics.

La analítica predictiva es la ciencia de predecir el comportamiento, y está presente en todos los aspectos de nuestra vida. Pone en valor el poder de los datos y afecta cada día a la toma de millones de decisiones. Bancos, empresas, políticos y organizaciones la utilizan para convencernos de que necesitamos sus productos o servicios. ¡La utilizan para controlar nuestra forma de actuar! ¿Por qué? La predicción del comportamiento humano combate el riesgo financiero, mejora los cuidados sanitarios, permite luchar contra el spam, ayuda en la persecución de delitos y aumenta las ventas. ¿Cómo? La predicción se alimenta del recurso no natural más potente y actual: la información. Información que se nutre de datos residuales, recopilados gracias a tareas rutinarias realizadas por las organizaciones. Pero, ¡Sorpresa! Estos datos aparentemente inútiles son una mina de oro. Una fuente extraordinaria de experiencia de la que podemos obtener información. Siegel ha conseguido un libro ameno y entretenido que, combinando hábilmente historias y anécdotas reales con teoría, nos explica cómo se analiza el comportamiento y como predecirlo. "Este libro es el Freakonomics del Big Data." ¿ Stein Kretsinger, socio fundador de Advertising.com; analista responsable de Capital One. "Entretenido, informativo y detallado a partes iguales. Siegel realiza un desarrollo profundo y ameno al tiempo, convirtiendo la ciencia en algo apasionante". ¿ Rayid Ghani, Científico de Datos. Jefe en la campaña Obama for America 2012. "Esta obra no representa sólo un profundo análisis de un tema que resulta crítico en la actualidad para prácticamente cualquier sector empresarial. También es una lectura apasionante". ¿ Geoffrey Moore, autor de "Crossing the Chasm".
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