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Title    Predictive Algorithms Are No Better at Telling the Future Than a Crystal Ball
Date    Tuesday February 13 2018, @03:17AM
Author    janrinok
Topic   
from the I-guess-so dept.
https://soylentnews.org/article.pl?sid=18/02/12/1858254

AnonTechie writes:

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.

https://theconversation.com/predictive-algorithms-are-no-better-at-telling-the-future-than-a-crystal-ball-91329

What do you people think about predictive algorithms ? Mumbo jumbo or ??


Original Submission

Links

  1. "AnonTechie" - https://soylentnews.org/~AnonTechie/
  2. "analysts" - http://blog.bersin.com/hr-technology-2018-ten-disruptions-for-the-year-ahead/
  3. "professional practitioners" - https://www.hrtechnologist.com/articles/productivity-analysis-hr-analytics-tools/5-hr-essentials-that-predictive-analytics-will-transform-completely/
  4. "US$14.9 billion by 2023" - https://www.reuters.com/brandfeatures/venture-capital/article?id=17937
  5. "intuition" - https://openlibrary.org/works/OL4299942W/Mind_Over_Machine
  6. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=24817

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printed from SoylentNews, Predictive Algorithms Are No Better at Telling the Future Than a Crystal Ball on 2018-08-16 00:59:21