Nathan asks, "Do you see a place for human contributions still in predictive analytics even with A.I. taking over?"
There are indeed still reasons for humans to play a role in predictive analytics. Watch the video to learn the three most important reasons, and especially why more seasoned, experienced professionals are essential to the data science and machine learning process.
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What follows is an AI-generated transcript. The transcript may contain errors and is not a substitute for watching the video.
In today's episode, Nathan asks, do you see a place for human contributions still in predictive analytics, even with AI taking over? This is a great question and a very interesting one. Because the short answer is yes. The long answer is predictive analytics as part of the world of analytics and analytics is really, really good at answering the question of what happened, what is this? What happened? What's going to happen
implication analytics is not real good at explaining why especially when you start looking at complex variables and multi variables, things that you would have to build
enormous amounts of predictive
landscape data in just to be able to explain things and so there is absolutely a role for human beings and human contract.
And predictive analytics and there will be for quite some time until you get
AI that can look across large numbers of variables. So let's take a look at what this might look like I'm going to use let's let's do a prediction here let's bring one up on Dunkin Donuts, which is the, the chain here that is prominent in New England within the Massachusetts the boston massachusetts DMA. So this is DMA 506, which is Boston Manchester basically the Boston metro area only, so it's not predicting anything outside of that. And what we're looking at here is what is the likelihood of people searching for Dunkin Donuts near me. So they're using a localized query
over the next 52 weeks. And I ran this this has been running in October 2018. So look forward here and what we see our peaks happening anything above that dark gray bar is in the Upper 25 percentile range.
We see okay, let's it looks like it's going to be real.
Popular here around the
end of end of October actually mid November we see another spike they're just before the holidays and get super quiet until you get to about may and that you know once you get into the middle of May searches for Dunkin Donuts near me It reaches its next peak its next big volume now
what does this tell us? Well it tells us if I happen to work for Dunkin Donuts, which I don't currently
it tells us when Duncan should be doing certain campaigns to maximize the interest in their brand specifically for people within the Boston metro area looking for their brand near them. But it doesn't tell us why we don't know why this chart won't explain it. And even if I were to select other things here like lingo, select coffee shop the generic term we see a similar curve but not identical term. Let's look at a competing term Starbucks near me. Starbucks looks a lot more like coffee shop and
Dunkin Donuts does interestingly enough,
what's going on here? Well, we don't know that's the thing is we don't know just from this prediction Justin this forecast why these things look the way they do we would need qualitative research we would need to be running focus groups and surveys in market at peaks and valleys to explain what's going on in people's heads. Analytics is going to tell us this predictive analytics isn't going to tell us
we could attempt to use some things like
social media text mining, but even that's going to give us a very incomplete picture we need actual market research in order to be explained to to explain these peaks and valleys within the Dunkin Donuts brand as to why people within the Boston area search for it at specific times a year that don't look like Starbucks and don't look like the generic term coffee shop.
This is where human contributions matter human contributions would be able to bring in all that was
Why are things happening? And is the reason why a valid reason if the market research is good or less than good,
real simple example if we think about this Dunkin Donuts near me query,
there are times a year like the middle of winter people aren't thinking about either coffee or iced coffee or tea. Even though oddly enough, in New England, people drink iced coffee year round
that people don't do it as much. Well, obviously there's a climatological difference here that you're not going to get out of these analytics. But you know, as a human being that that is a very much a thing. Likewise, what are the other considerations that are happening in here? Well, Duncan just renamed itself. So now they also call themselves Duncan. So if we switch over to Duncan, near me,
does a search volume change? Well, not really doesn't change all that much. So
there's, that's an interesting little factoid about
itself is why,
why is the long run the shorter brand name not different in any way is the brand? What is it? People getting out of the brand name itself that is so powerful that the prediction doesn't really change when you use one brand name or the other?
So for the human contributions in predictive analytics are all about why? Why are these things happening? Why do people make them the buying decisions? They do? Why
climate not as much of a change, why are there these spikes in cold months? Now, some of these spikes for example, the ones in December
we know as humans that there are things like holidays and when people around these holidays people go and get gift cards and because they can't think of what else to get people so they buy their their relatives, Dunkin Donuts gift cards. Well, of course, then you're going to see that spike to look for a store near you so
So that you can go and buy the actual gift card for somebody. But you would not see this in the data. This is not something that the data or the prediction of the forecast is going to tell you. You have to know that being a human being so not only are there human contributions in predictive analytics, but
there is a premium I would argue on human experience I'm life experience. And so folks who have a little more gray in their hair like I do who
who are concerned about being left behind No, don't worry as much about that double down on what you have that a 20 something data scientist fresh out of graduate school isn't going to have, which is, you know, life you have no more decades under your belt and therefore you have more insights as to why people do the things they do. Now, obviously, you have to counterbalance that with understanding that you have biases in that life experience that you also have to account for as well. Again, this is something else to Nathan's question that
We're human contributions will impact predictive analytics.
If the data set your training your predictions on has any kind of bias or flaw or leaning or corruption of some kind, you have to be able to look at the data set will look at the macro situation around that data set and say, Yep, we can't use this data. We can't make a forecast or a driver analysis on this data because there's a bias in it. And no, no amount of technological modeling is going to fix that. An example I gave on a webinar yesterday is African American healthcare data is highly flawed.
Why? Because the macro environment discrimination against African Americans is such that all the healthcare data about that population is corrupted. If you are trying to balance for optimum outcomes. You have to use a different population because the discrimination against African Americans which is centuries long means no good data.
exists that is unbiased. And until you get rid of or fully mitigate that human bias you're going to have a real hard time getting high quality data in order to do predictive analytics. So human contributions and predictive analytics knowing why the general life experience and being able to identify and account for and me to remove or stop a project due to bias aware we will have contributions for a long time to come. As always, please subscribe to the YouTube channel. In the newsletter I'll talk to you soon. Take care what help solving your company's data analytics and digital marketing problems. This is trust insights that AI today and let us know how we can help you
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