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
[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 […]
Private equity firms are learning that “private” can be a disadvantage in the era of digital social networks. G7 voters are frustrated by prolonged poor economic performance, falling prosperity and growing income disparities. P/E firms are an all too convenient target, and US presidential candidate Mitt Romney is bringing unwelcome exposure to the industry. There is a strong populist theme to U.S. and European politics, which sets the scene for a prolonged era of criticism, precisely when the industry is struggling, and firms are closing.
Smart P/E firms will be grounded and strategic about building trust among lawmakers, their publics and other stakeholders, and using digital social networks could play a key role in educating stakeholders and interacting with readers with transparency and principles, thereby building trust and dampening criticism. Specifically, P/E firms should:
Regina Herzlinger Keynotes Chicago Healthcare Executives Forum 35th Anniversary
Five-Point Prescription for U.S. Health Care—Involving Patients
CHEF Chicago’s hospital executives listened raptly to Dr. Regina Herzlinger‘s impassioned message for transforming U.S. health care at their 35th anniversary celebration this month at the J.W. Marriott in Chicago. Dr. Herzlinger is respected and renowned for her message, so there were few surprises. The most distinctive element of her point of view is her strategy for taking a retail-led approach to transforming health care. She is very market- and consumer-focused, which is refreshing because it relies on the market and customers at least as much as the government. “Who Killed Health Care?” is her latest book, and she is a regular advisor to federal and state government officials.