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An increasing number of businesses invest in advanced technologies that can help them forecast the future of their workforce and gain a competitive advantage. Many analysts and professional practitioners believe that, with enough data, algorithms embedded in People Analytics (PA) applications can predict all aspects of employee behavior: from productivity, to engagement, to interactions and emotional states.
Predictive analytics powered by algorithms are designed to help managers make decisions that favourably impact the bottom line. The global market for this technology is expected to grow from US$3.9 billion in 2016 to US$14.9 billion by 2023.
Despite the promise, predictive algorithms are as mythical as the crystal ball of ancient times.
[...] To manage effectively and develop their knowledge of current and likely organisational events, managers need to learn to build and trust their instinctual awareness of emerging processes rather than rely on algorithmic promises that cannot be realised. The key to effective decision-making is not algorithmic calculations but intuition.
What do you people think about predictive algorithms ? Mumbo jumbo or ??
(Score: 4, Insightful) by looorg on Tuesday February 13 2018, @07:54AM
All of the above really? It's not a surprise tho since companies have told other companies that all their data is like gold and they can gain knowledge if just the right method is applied to them, or it's put into the cloud or into the lake or into the mist or into the (whatever is the new buzzy trendy word is) or the new AI or PA or ML technique is used. In truth almost all their data is, unstructured, shit and borderline worthless and can only predict shit and no matter how much you polish it and turn it about it is still going to be shit that can only predict shit. That said it is not that data can't be used to predict things, sadly they are not going to be revolutionary things we never thought of before or could have thought of before so it doesn't really add anything new or something unheard off. So yes it's borderline mumbo and jumbo and a few other things that is no better (or much better) then crystal balls, tea leaves or tarot cards or just plain old guessing combined with telling the customer what they want to hear (aka lying your ass off).