'The Freakonomics of big data.' -Stein Kretsinger , founding executive of Advertising.com Award-winning Used by over 30 universities Translated into 9 languages An introduction for everyone. In this rich, fascinating - surprisingly accessible - introduction, leading expert Eric Siegel reveals how predictive analytics works, and how it affects everyone every day. Rather than a 'how to' for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques. Prediction is booming. It reinvents industries and runs the world. Companies, governments, law enforcement, hospitals, and universities are seizing upon the power. These institutions predict whether you're going to click, buy, lie, or die. Why? For good reason: predicting human behavior combats risk, boosts sales, fortifies healthcare, streamlines manufacturing, conquers spam, optimizes social networks, toughens crime fighting, and wins elections. How? Prediction is powered by the world's most potent, flourishing unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn. Predictive Analytics unleashes the power of data. With this technology , the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future drives millions of decisions more effectively, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate. In this lucid, captivating introduction - now in its Revised and Updated edition - former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction: What type of mortgage risk Chase Bank predicted before the recession. Predicting which people will drop out of school, cancel a subscription, or get divorced before they even know it themselves. Why early retirement predicts a shorter life expectancy and vegetarians miss fewer flights. Five reasons why organizations predict death - including one health insurance company. How U.S. Bank and Obama for America calculated - and Hillary for America 2016 plans to calculate - the way to most strongly persuade each individual. Why the NSA wants all your data: machine learning supercomputers to fight terrorism. How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy!
How companies ascertain untold, private truths - how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job. How judges and parole boards rely on crime-predicting computers to decide how long convicts remain in prison. 182 examples from Airbnb, the BBC, Citibank, ConEd, Facebook, Ford, Google, the IRS, LinkedIn, Match.com, MTV, Netflix, PayPal, Pfizer, Spotify, Uber, UPS, Wikipedia, and more.
How does predictive analytics work? This jam-packed book satisfies by demystifying the intriguing science under the hood. For future hands-on practitioners pursuing a career in the field, it sets a strong foundation, delivers the prerequisite knowledge, and whets your appetite for more. A truly omnipresent science, predictive analytics constantly affects our daily lives. Whether you Eric Siegel, Ph D, is the founder of Predictive Analytics World and executive editor of The Predictive Analytics Times . A former Columbia University professor, he is a renowned speaker, educator, and leader in the field.
Praise for Predictive Analytics
"Littered with lively examples..."
- The Financial Times
"Readers will find this a mesmerizing and fascinating study. I know I did!...I was entranced by the book."
- The Seattle Post-Intelligencer
"Siegel is a capable and passionate spokesman with a compelling vision."
- Analytics Magazine
"A must-read for the normal layperson."
- Journal of Marketing Analytics
"This book is an operating manual for twenty-first-century life. Drawing predictions from big data is at the heart of nearly everything, whether it's in science, business, finance, sports, or politics. And Eric Siegel is the ideal guide."
- Stephen Baker, author, The Numerati and Final Jeopardy: The Story of Watson, the Computer That Will Transform Our World
"Simultaneously entertaining, informative, and nuanced. Siegel goes behind the hype and makes the science exciting."
- Rayid Ghani, Chief Data Scientist, Obama for America 2012 Campaign
"The most readable (for we laymen) 'big data' book I've come across. By far. Great vignettes/stories."
- Tom Peters, coauthor, In Search of Excellence
"The future is right now-you're living in it. Read this book to gain understanding of where we are and where we're headed."
- Roger Craig, record-breaking analytical Jeopardy! champion; Data Scientist, Digital Reasoning
"A clear and compelling explanation of the power of predictive analytics and how it can transform companies and even industries."
- Anthony Goldbloom, founder and CEO, Kaggle.com
"The definitive book of this industry has arrived. Dr. Siegel has achieved what few have even attempted: an accessible, captivating tome on predictive analytics that is a must-read for all interested in its potential-and peril."
- Mark Berry, VP, People Insights, ConAgra Foods
"I've always been a passionate data geek, but I never thought it might be possible to convey the excitement of data mining to a lay audience. That is what Eric Siegel does in this book. The stories range from inspiring to downright scary-read them and find out what we've been up to while you weren't paying attention."
- Michael J. A. Berry, author of Data Mining Techniques, Third Edition
"Eric Siegel is the Kevin Bacon of the predictive analytics world, organizing conferences where insiders trade knowledge and share recipes. Now, he has thrown the doors open for you. Step in and explore how data scientists are rewriting the rules of business."
- Kaiser Fung, VP, Vimeo; author of Numbers Rule Your World
"Written in a lively language, full of great quotes, real-world examples, and case studies, it is a pleasure to read. The more technical audience will enjoy chapters on The Ensemble Effect and uplift modeling-both very hot trends. I highly recommend this book!"
- Gregory Piatetsky-Shapiro, Editor, KDnuggets; founder, KDD Conferences
"Exciting and engaging-reads like a thriller! Predictive analytics has its roots in people's daily activities and, if successful, affects people's actions. By way of examples, Siegel describes both the opportunities and the threats predictive analytics brings to the real world."
- Marianna Dizik, Statistician, Google
"A fascinating page-turner about the most important new form of information technology."
- Emiliano Pasqualetti, CEO, DomainsBot Inc.
"Succeeds where others have failed-by demystifying big data and providing real-world examples of how organizations are leveraging the power of predictive analytics to drive measurable change."
- Jon Francis, Senior Data Scientist, Nike
"In a fascinating series of examples, Siegel shows how companies ha