Remove 2005 Remove Big Data Remove Cost-Benefit Remove Uncertainty
article thumbnail

New Thinking, Old Thinking and a Fairytale

Peter James Thomas

The above chart compares monthly searches for Business Process Reengineering (including its arguable rebranding as Business Transformation ) and monthly searches for Data Science between 2004 and 2019. Business Process Reengineering (BPR) used to be a big deal. And reduced costs aren’t guaranteed […].

article thumbnail

Using random effects models in prediction problems

The Unofficial Google Data Science Blog

Far from hypothetical, we have encountered these issues in our experiences with "big data" prediction problems. In the context of prediction problems, another benefit is that the models produce an estimate of the uncertainty in their predictions: the predictive posterior distribution. ICML, (2005). [3] 9] Steven L.