Why ‘Data-Driven Decisions’ Are a Myth
Data Driven23 Juni

Why ‘Data-Driven Decisions’ Are a Myth

This week, we dive deep into the world of data, decision-making, and uncertainty with Dale Nesbitt, a lecturer at Stanford and principal at Arrowhead Economics.

Drawing on his unique upbringing in a mining town, Dale Nesbitt shares how witnessing raw data collection firsthand shaped his perspective on what it really takes to make informed decisions—hint: it's not just about having more data.

Together, we explore the pitfalls of relying solely on data for critical choices, the importance of understanding probability and risk, and why data-gathering itself is often a noisy and imperfect process.

From commodity pricing and speculation in oil markets to the real-world impact of data-driven decisions in healthcare, Dale Nesbitt reveals why true analytic power comes from combining rigorous analysis, sound judgment, and the right kind of data—not just more of it.

Join us as we challenge myths around "data-driven" decisions, unpack lessons from COVID-era data science, and discover why wisdom of the crowd, probability, and a healthy respect for uncertainty are key to navigating our data-rich world.

Links


Time Stamps

00:00 Growing up in a mining town

05:44 Data as the New Crude Oil

07:31 Estimating and Understanding Stochastic Processes

12:49 Impact of Strait of Hormuz Closure

14:19 Challenges of AI in Economics

17:05 Betting on events and elections

21:43 Bayesian analysis and hydroxychloroquine data

23:28 Understanding data and judgment

26:38 Analyzing data for better decisions

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(300)

How Compliance Became Cool: Richa Kaul on Security, Privacy, and AI

How Compliance Became Cool: Richa Kaul on Security, Privacy, and AI

Welcome back to "Data Driven," the podcast where we explore the cutting edge of data science, AI, and the rapidly evolving world of data governance.In this episode, we sit down with Richa Kaul, founde...

21 Sep 45min

Why Business Knowledge Beats Tool Complexity in the AI Era

Why Business Knowledge Beats Tool Complexity in the AI Era

Welcome back to Data Driven, the podcast where we dive deep into the evolving worlds of data science, business intelligence, and artificial intelligence. In this episode, host Frank La Vigne sits down...

16 Sep 54min

Bridging AI and Human Intelligence – Multicolor Lasers and the Future of Photonic Computing

Bridging AI and Human Intelligence – Multicolor Lasers and the Future of Photonic Computing

Welcome to another episode of Impact Quantum, where we explore the cutting edge of quantum computing and emerging technologies reshaping our world.Today, co-hosts Frank La Vigne and Candace Gillhoolle...

15 Sep 54min

Digital Trust in Practice: Compliance, AI, and Human Factors with Sandeep Pauddar

Digital Trust in Practice: Compliance, AI, and Human Factors with Sandeep Pauddar

In this episode, Frank La Vigne sits down with Sandeep Pauddar, Head of Digital Trust at DQS, to explore the fast-evolving world of digital trust, compliance, and data security. From the growing compl...

8 Sep 47min

AI Adoption in Power Plants and Beyond – Trends, Challenges, and ROI Insights

AI Adoption in Power Plants and Beyond – Trends, Challenges, and ROI Insights

Welcome back to another episode of Data Driven! This time, hosts Andy Leonard and Frank La Vigne sit down with Jim Spignardo, Director of Cloud Strategy and AI Enablement at ProArch, to explore the tr...

1 Sep 59min

Building Trust in AI – Lawrence Snap on Hallucination Detection and the Future of TrustScale

Building Trust in AI – Lawrence Snap on Hallucination Detection and the Future of TrustScale

In this episode, hosts Frank La Vigne and Andy Leonard sit down with Lawrence Snapp, CEO and board member of TrustScale, an innovative AI trust and verification platform. Together, they explore the cr...

27 Aug 53min

Numeracy, Probability, and Business – Embracing Randomness for Better Decisions

Numeracy, Probability, and Business – Embracing Randomness for Better Decisions

In this episode, host Andy Leonard sits down with Ilan Man, founder and CEO of Paradox Machines, a full-stack data and AI company based in Brooklyn. Ilan shares his fascinating journey from an actuari...

18 Aug 50min

Tackling Data Engineering Challenges with Autonomous AI Agents

Tackling Data Engineering Challenges with Autonomous AI Agents

In this episode, Frank La Vigne sits down with Pradnesh Patil, co-founder and CEO of Altima AI, to explore how AI is revolutionizing the world of data engineering. Together, they dive into the challen...

28 Juli 43min

Populärt inom Vetenskap

dumma-manniskor
p3-dystopia
rss-mottagningen
allt-du-velat-veta
angestpodden
kapitalet-en-podd-om-ekonomi
rss-ronden
det-morka-psyket
ufo-sverige
svd-nyhetsartiklar
4health-med-anna-sparre
sexet
rss-vetenskapsradion
rss-arkeologi-historia-podden-som-graver-i-vart-kulturlandskap
bildningspodden
rss-spraket
rss-vetenskapsradion-2
ideer-som-forandrar-varlden
rss-ufobortom-rimligt-tvivel
rss-geopodden-2