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EP020: Data + Knowledge Base = A “Model” Business System with George Danner
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Joining together the formidable pattern recognition abilities of the human mind with the agility of data-driven simulation modeling is a company's best option for overcoming challenges. Business Laboratory captures information from experts in your organization to gain insights and systematically inserts the scientific method to create a living model of your business.
Key Takeaways:
[1:48] Building simulation models for companies with lots of moving parts
[4:28] Modeling is mimicking real life in a simulated world
[6:38] Pattern recognition in the human mind is visual
[9:24] Information from experts is key
[10:37] Augmenting humans with computer models
[11:45] A hackathon example from Praxent
[16:28] Data is the fuel for scientific investigation
[17:32] Legacy industries can benefit from analytics - Moneyball example
[20:21] Which came first the data or the hypothesis
[25:38] Applying the scientific method to business
[31:04] Debates driven by data are essential to today’s businesses
[32:45] Programmers are excellent problem solvers
[34:53] Hiring techniques for problem solvers are outdated
[37:30] Revealing thought processes
[38:11] The analytical sandbox is a place for talented people to play
[41:13] Contact information for George
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