And the worst thing for Chloe, is that the data algorithm does not care about her hair, her personality, her cool outfit, or her grandmother. The machine has 20 more songs to process that day. If an entertainment company is so sophisticated it can make data decisions about its music, can the same apply to its films? Last year I organised a group of Wharton colleagues to meet the President of a Top 3 entertainment company.
I've trusted the still, small voice of intuition my entire life.
Chloe's Song - Single by Zachary Ray on iTunes
And the only time I've made mistakes is when I didn't listen. On January 3 rd I went back to Hollywood to talk to the studio and asked them to explain the decision and investment process again.
What I learnt was that their decisions are made with experienced film executives, who can pull different levers in the budget depending on the film success from Day 1. They said it took them weeks of analysts checking data and fact. In my manufacturing days, this level of investment would take at least months of due diligence with a very large project team.
Why is opinion important in the analytics industry? Is the entertainment company I saw unusual? What about the Wall Street bank, and the manufacturing experience. Is their middle ground? How do we rationalize this? I asked the Economist Dambisa Moyo exactly this.
The Memory Machine (Bonus Version)
Her reply to the question was simple - that experienced opinion was the crucial variable. Human experience is why data still needs human decisions. To quote my Professor Jerry Wind, Lauder Professor of Marketing at Wharton, analytical insight 'aha' is very sudden, but by definition, sporadic. Human intuition and opinion allows us to think beyond analysis, outside the answers, or even reframe the original problem statement. From music to manufacturing, some organisations are making major investments based on data and fact.
Other organisations value a mix of fact and opinion.
How does your organisation optimize this to ensure you use the correct balance of fact and opinion? All race types Flat All Weather Claiming. All Configurations Left-Handed. All track types Level. All Classes. Summary - Data does not include this horse 40 runs, 5 wins 2 horses , 6 placed, 29 unplaced. Next time out 7 runs, 1 win, 3 placed, 3 unplaced.
Class analysis 0 runs up in class, 0 wins, 0 placed, 0 unplaced. Index value 0 from 7 horses. Philadelphia Park Claiming. Date days since Race Details Wgt. Summary - Data does not include this horse 42 runs, 4 wins 3 horses , 14 placed, 24 unplaced. Next time out 8 runs, 0 wins, 3 placed, 5 unplaced. Index value from 8 horses. ATR Future Form. Summary - Data does not include this horse 47 runs, 2 wins 2 horses , 5 placed, 40 unplaced. Next time out 9 runs, 1 win, 1 placed, 7 unplaced. Index value from 9 horses. Philadelphia Park Starter Allowance. Summary - Data does not include this horse 42 runs, 11 wins 7 horses , 6 placed, 25 unplaced.
Next time out 10 runs, 2 wins, 2 placed, 6 unplaced. Index value from 10 horses. Summary - Data does not include this horse 42 runs, 8 wins 6 horses , 7 placed, 27 unplaced. Next time out 9 runs, 2 wins, 1 placed, 6 unplaced. Summary - Data does not include this horse 30 runs, 2 wins 1 horse , 8 placed, 20 unplaced. Next time out 5 runs, 0 wins, 0 placed, 5 unplaced.
Index value 0 from 5 horses. Delaware Park Claiming. Philadelphia Park Allowance. Laurel Park Claiming. Colonial Downs Allowance.
Fly (Chloe's Song)
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Pierre Ortega Hernandez. Jose Flores. Roberto Jr Alvarado.
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Jermaine Burke 5. Saul Arias. Edwin Rivera. Josiah Jr Hampshire.
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- Chloe's Song - E-bok - Leslie Thomas () | Bokus.
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