Decision-making

Accurate Machine Learning Models are not Enough

Pitfalls when Communicating Data-Driven Insights to Decision Makers Machine learning-based predictive models are increasingly being adopted by decision makers across small and large organizations. These automated models can produce predictions to assist in problems ranging from predictive machine maintenance to customer churn prediction.   However, with the ever-increasing adoption of these methods, product owners often focus …

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Data-driven Decision-making to Reduce Biased Decisions

All decisions concern future operations. When a company prepares decision-making materials for important matters, macroeconomic trends such as unemployment, consumer confidence indices and purchase prices must be taken into account. Each business must pay attention to the economic environment they are operating in to use the effect of these trends to its advantage.  Each company …

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