Organizations that believe analytics is nothing more than building the perfect algorithm will be disappointed, says Dean Abbott, President of Abbott Analytics. “The success of analytics depends much more on framing the question and the assessment of the answers than it does on the algorithm. Algorithms don’t have common sense like we do.” Nor should data mining be approached like a recipe that must be carefully followed. “It’s not a set of rules,’’ says Abbott, who encourages companies to embrace an experimental mindset instead.
Hear more of Abbott’s thoughts on analytics in this video interview.