Predictive analytics fails at exactly the moments that matter most, and this episode explains what to use instead.
Every predictive model ever built is trained on historical data. It looks backwards to tell you what happens next. That works brilliantly right up until something happens that has never happened before, and then the model has nothing. Oliver walks through the last decade of black swan events that no algorithm saw coming, and the operators who felt them arriving anyway.
This is not an argument against data. Oliver runs PinPoint Media, a performance marketing agency that lives in the data every day. It is an argument against the uncritical worshipping of it.
He covers the three specific ways data misleads decision makers, the difference between optimisation decisions and direction decisions, and a five-step process for making the calls that models cannot make for you.
The framework is simple. Data for optimisation. Intuition for direction. Feedback loops for everything.
Key topics covered:
Key takeaway: the businesses that win the next decade will not be the ones with the best models, they will be the ones with the best judgement.
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More from Oliver:
Instagram: https://www.instagram.com/oliverbrucefounder/
PinPoint Media: https://pinpoint-media.global/
Apple Podcast: https://podcasts.apple.com/gb/podcast/the-unlock-with-oliver-bruce/id1526266908
Connect with Oliver: https://www.linkedin.com/in/oliverbruceonline/