Humans + AI, deciding together
Source: Wikipedia. Anscombe’s quartet. Presenting to decision makers? Always remember it’s not a data story you’re telling, it’s a value story. First, ask yourself: What is the message? Why is this valuable and meaningful to your audience? Where did the data come from, and why are your conclusions believable? Then follow these 5 tips to […]
1. Underwriters + algorithms = Best of both worlds. We hear so much about machine automation replacing humans. But several promising applications are designed to supplement complex human knowledge and guide decisions, not replace them: Think primary care physicians, policy makers, or underwriters. Leslie Scism writes in the Wall Street Journal that AIG “pairs its […]
Yikes, evidence-based decisions are taking on water. Decision makers still resist handing the car keys to others, even when machines make better predictions. And government agencies continue to, ahem, struggle with making evidence-based policy. — Tracy Altman, editor 1. Evidence-based home visit program loses funding.The evidence base has developed over 30+ years. Advocates for home visit programs – […]
Smart decision-making is more complicated than becoming ‘data-driven’, whatever that means exactly. We know people can make better decisions if they consider relevant evidence, and that process is getting easier. But too often tech enthusiasts dismiss people’s decisions as based on gut feel, as if data will save us from ourselves. Let’s put an end to […]
1. Lori C. Bieda of SAS is spot on, describing how analytics professionals can grow into roles as trusted advisors for senior executives. In The Translation Layer: The Role of Analytic Talent, she explains that “Analytics teams… need to evolve from data providers into insight integrators.” Lots of detailed observations and recommendations in this white […]
Sometimes we fool ourselves into thinking that if people just had access to all the relevant data, then the right decision – and better outcomes – would surely follow. Of course we know that’s not the case. A number of things block a clear path from evidence to decision to outcome. Evidence can’t speak for […]
1. Abundant evidence → Clever synthesis → Informed crime-prevention decisions The What Works Crime Toolkit beautifully synthesizes – on a single screen – the evidence on crime-prevention techniques. This project by the UK’s @CollegeofPolice provides quick answers to what works (the car breathalyzer) and what doesn’t (the infamous “Scared Straight” programs). Includes easy-to-use filters for […]
1. Jason Zweig tells the story of randomistas, who use randomized, controlled trials to pinpoint what helps people become self-sufficient around the globe. The Anti-Poverty Experiment describes several successful, data-driven programs, ranging from financial counseling to grants of livestock. 2. Can an early childhood program prevent child abuse, crime, drug abuse, and neglect? Yes, says […]
1. CircleUp uses algorithm to evaluate consumer startups. Recently we wrote about #fintech startups who are challenging traditional consumer lending models. CircleUp is doing something similar to connect investors with non-tech consumer startups (food, cosmetics, recreation). It’s not yet a robo adviser for automated investing, but they do use machine learning to remove drudgery from […]
“What counts as good evidence?” is a great conversation starter. The UK-based Alliance for Useful Evidence / Nesta offers seminars and publications to “explore what is realistic in terms of standards of evidence for social policy, programmes and practice.” Prompting discussion was a ‘provocation paper’, What Counts as Good Evidence?, by Sandra Nutley, Alison Powell, […]