How Predictive Analytics Improve Your Bottom Line, with Eric Siegel
In this Big Think Edge preview, Dr. Eric Siegel, author of Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, explains the power of knowing what people are going to do before they do it.
Ever wish you could see the future? Humans have long sought powers of foresight to help them make better decisions for the future. With the relatively recent development of predictive analytics, Big Think expert Eric Siegel explains that we're as close as we're ever going to get to predicting human behavior. It's not Gray's Sports Almanac, but predictive analytics allow for a keen assessment of the probability that any one person will buy, sell, click, lie, die, etc. Harnessing the power of prescient metrics is paramount when running an efficient company in the age of exponential technologies and entrepreneurship. The reason for this is that predictive analytics don't just predict the future; they can influence it as well. Siegel discusses how in the following Big Think Edge lesson excerpt:
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We take fewer mental pictures per second.
- Recent memories run in our brains like sped-up old movies.
- In childhood, we capture images in our memory much more quickly.
- The complexities of grownup neural pathways are no match for the direct routes of young brains.
It's not just a case of "what doesn't kill you makes you stronger."
- A new study suggests children who endure trauma grow up to be adults with more empathy than others.
- The effect is not universal, however. Only one kind of empathy was greatly effected.
- The study may lead to further investigations into how people cope with trauma and lead to new ways to help victims bounce back.
It's one of the most consistent patterns in the unviverse. What causes it?
- Spinning discs are everywhere – just look at our solar system, the rings of Saturn, and all the spiral galaxies in the universe.
- Spinning discs are the result of two things: The force of gravity and a phenomenon in physics called the conservation of angular momentum.
- Gravity brings matter together; the closer the matter gets, the more it accelerates – much like an ice skater who spins faster and faster the closer their arms get to their body. Then, this spinning cloud collapses due to up and down and diagonal collisions that cancel each other out until the only motion they have in common is the spin – and voila: A flat disc.
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