Posts tagged assumptions
Assumptions Can Be Risky In A Big Data World

Any new analytic process will include assumptions about a wide range of areas including what actions will realistically be considered based upon the results, what metrics or methodologies will be best to utilize, and also what initial values to set for any inputs such as inflation rates. When working with familiar data and problems, your confidence in, and the validity of, the assumptions made are probably fairly sound. After all, you’ve tested and validated those assumptions. However, when you are doing a new type of analysis or using a data source for the first time, your assumptions may be having a profound impact on the results. Your assumptions may be introducing risk into your decision making whether you realize it or not.

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