Judgment in Predictive Analytics

Judgment in Predictive Analytics
Author :
Publisher : Springer Nature
Total Pages : 321
Release :
ISBN-10 : 9783031300851
ISBN-13 : 3031300858
Rating : 4/5 (51 Downloads)

Book Synopsis Judgment in Predictive Analytics by : Matthias Seifert

Download or read book Judgment in Predictive Analytics written by Matthias Seifert and published by Springer Nature. This book was released on 2023-06-02 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book highlights research on the behavioral biases affecting judgmental accuracy in judgmental forecasting and showcases the state-of-the-art in judgment-based predictive analytics. In recent years, technological advancements have made it possible to use predictive analytics to exploit highly complex (big) data resources. Consequently, modern forecasting methodologies are based on sophisticated algorithms from the domain of machine learning and deep learning. However, research shows that in the majority of industry contexts, human judgment remains an indispensable component of the managerial forecasting process. This book discusses ways in which decision-makers can address human behavioral issues in judgmental forecasting. The book begins by introducing readers to the notion of human-machine interactions. This includes a look at the necessity of managerial judgment in situations where organizations commonly have algorithmic decision support models at their disposal. The remainder of the book is divided into three parts, with Part I focusing on the role of individual-level judgment in the design and utilization of algorithmic models. The respective chapters cover individual-level biases such as algorithm aversion, model selection criteria, model-judgment aggregation issues and implications for behavioral change. In turn, Part II addresses the role of collective judgments in predictive analytics. The chapters focus on issues related to talent spotting, performance-weighted aggregation, and the wisdom of timely crowds. Part III concludes the book by shedding light on the importance of contextual factors as critical determinants of forecasting performance. Its chapters discuss the usefulness of scenario analysis, the role of external factors in time series forecasting and introduce the idea of mindful organizing as an approach to creating more sustainable forecasting practices in organizations.


Judgment in Predictive Analytics Related Books

Judgment in Predictive Analytics
Language: en
Pages: 321
Authors: Matthias Seifert
Categories: Business & Economics
Type: BOOK - Published: 2023-06-02 - Publisher: Springer Nature

DOWNLOAD EBOOK

This book highlights research on the behavioral biases affecting judgmental accuracy in judgmental forecasting and showcases the state-of-the-art in judgment-ba
The Oxford Handbook of Cognitive Engineering
Language: en
Pages: 659
Authors: John D. Lee
Categories: Computers
Type: BOOK - Published: 2013-03-07 - Publisher: Oxford University Press

DOWNLOAD EBOOK

This handbook is the first to provide comprehensive coverage of original state-of-the-science research, analysis, and design of integrated, human-technology sys
Expert Political Judgment
Language: en
Pages: 368
Authors: Philip E. Tetlock
Categories: Political Science
Type: BOOK - Published: 2017-08-29 - Publisher: Princeton University Press

DOWNLOAD EBOOK

Since its original publication, Expert Political Judgment by New York Times bestselling author Philip Tetlock has established itself as a contemporary classic i
Applied Predictive Modeling
Language: en
Pages: 595
Authors: Max Kuhn
Categories: Medical
Type: BOOK - Published: 2013-05-17 - Publisher: Springer Science & Business Media

DOWNLOAD EBOOK

Applied Predictive Modeling covers the overall predictive modeling process, beginning with the crucial steps of data preprocessing, data splitting and foundatio
Data-Driven Law
Language: en
Pages: 286
Authors: Edward J. Walters
Categories: Computers
Type: BOOK - Published: 2018-07-16 - Publisher: CRC Press

DOWNLOAD EBOOK

For increasingly data-savvy clients, lawyers can no longer give "it depends" answers rooted in anecdata. Clients insist that their lawyers justify their reasoni