Introduction
The goal of this blog is to introduce the Valorem Reader to data science, and more specifically, machine learning and predictive analytics. Valorem clients are clamoring for assistance to understand what machine learning might do for their company. In all the excitement, customers sometimes overlook the basics. In the development of predictive algorithms, being the rabbit in the race and skipping the basics will reduce the value provided by any model that is developed. Speed is your enemy. A thoughtful approach will allow the turtle to win the race and provide a robust, high performing predictive solution. Developing the right dataset to use as inputs into predictive modeling is the key ingredient to algorithm development success. It can be a slow and tedious process but it is a critical step – arguably the most important step in the machine learning process.
Why the Tidal Wave of Interest Now?
There are several factors driving the interest in predictive analytics. It is a unique time in history where the confluence of several loosely correlated changes are occurring that drive the corporate passion (or should I say necessity) for machine learning and predictive analytics.
