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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: 2) by Thexalon on Tuesday February 13 2018, @11:48PM (2 children)
Fed chairs are given 2 jobs:
1. Keep inflation from going too high.
2. Keep unemployment from going too high.
I'm going to have a hard time criticizing Ben Bernanke, and a very very very hard time criticizing Janet Yellen, because by all available measures they did those jobs very well under very difficult circumstances. As bad as the 2008 crash was, it could have been much worse than it actually was in the US, and if you need proof of how much worse it could have gotten you can look at Spain or Greece. For example, unemployment peaked at around 10% in October 2009 (before Yellen was even involved, I might add) and has since then steadily declined down to the current 4.1%. Meanwhile, inflation has if anything been unusually low for most of that time.
And if you're going to argue that the numbers I just cited were fictitious due to the US government faking the numbers, I should point out that the source that people making this claim usually cite, ShadowStats [shadowstats.com], shows nothing that would indicate that Yellen or Bernanke did a worse job than Greenspan, and indeed shows a slight decrease in unemployment under Yellen.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by FatPhil on Wednesday February 14 2018, @09:00AM (1 child)
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 2) by Thexalon on Friday February 16 2018, @02:49AM
1. The entire concept of money is artificial. We made it up. It's a useful social construction, but it's not a law of nature.
2. Manipulating the money flow and interest rates are exactly how you keep inflation under control.
3. None of that has to do with the competence of Ben Bernanke or Janet Yellen, who were given 2 jobs to do, and did those jobs using the powers at their disposal.
I get that you don't like the concept of the Fed even existing, but that's different from whether or not the people involved in running it are competent bosses. If you have a problem with what the Fed is allowed to do, that's a matter for Congress, not the Fed governors.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.