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Why Probability Is the Key to Profit in the Digital Social Big-Data Age

10 Detailed Case Studies + Big Data & Analytics’ New Digital Divide + How to Think Like a Data Scientist Book Review: Numbers Rule Your World/Kaiser Fung

Why Probability Is the Key to Profit in the Digital Big-Data Age[UPDATED] Step inside a data scientist’s mind, and learn why probability is the key to profit and how it’s the key to understanding and using big data for better decision making. This fascinating and useful book clearly shows how people misunderstand probability and misuse statistics—and therefore big data—and how the knowledge gap leads to faulty models, thinking and decisions. New winners and losers are emerging in the digital social and big-data age. A new digital divide, people who think like data scientists and use probability to support decision making—and everyone else. The data science group will outperform, and Fung shows how creative, fun and useful data science is.

This book is a perfect twin to Duncan Watts’ Everything Is Obvious* Once You Know the Answer, which exposes how common sense pervades management decisions and failure. I shall refer to several specific connections between the […]