Comments
clrmoney
2/21/2017 9:10:18 PM
User Rank Platinum
Thingspace IOT
The Thingspace Internet of things offers data and management which is very valuable and the descriptive analytics is in the lead which would describe what it it or something is great. I think that this is great for them adding more for Verizon.
Adi
2/22/2017 8:06:49 AM
User Rank Author
Machines that tell the future
It's intertesting that in the survey, it was predictive and prescriptive analytics that generated the most enthusiasm for the future. Increasingly we need data not just to tell us where we've been, but to be fact-driven fortune tellers for investment and strategy development in the future.
afwriter
2/23/2017 5:50:49 PM
User Rank Platinum
Re: Machines that tell the future
I would worry though, that this could cause issues. There is a story behind the saying, "don't put all your eggs in one basket." We can predict all we want, but that doesn't mean that the outcome is certain. That being said, I understand that this is not a guessing game, it is a numbers game and the predictions are pretty solid.
dcawrey
2/26/2017 2:14:53 PM
User Rank Platinum
Re: Machines that tell the future
Pretty logical. While we've talked a lot about IoT at the device and network level, not enough has been said about how all this data is being used. At some point in the future we're going to hear a lot more about analytics, that's for sure.
srufolo1
2/22/2017 1:05:42 PM
User Rank Platinum
Verizon's ThingSpace
It's a fact that it is impossible to know where you are going if you don't know where you've been. Hence, descriptive analytics is important. Unfortunately, according to this article, it requires more research and resources. Predictive and prescriptive analytics would seem to dovetail, whereby prediction of what is to come requires what should be done about it.
JohnBarnes
2/26/2017 8:17:13 PM
User Rank Platinum
Re: Verizon's ThingSpace
srufulo1,
Sort of. Descriptive analytics is mapping where you've been; predictive analytics is reading the map to figure out how to go to places you've been before; prescriptive analytics is about deciding where you want to go -- including, quite possibly, places you've never been before, and may not have imagined were possible.
The Analytics Revolution is constantly being "misunderestimated," to quote a former president.
srufolo1
2/28/2017 7:33:32 PM
User Rank Platinum
Re: Verizon's ThingSpace
@John Barnes:
@JohnBarnes I like the way you clarify the analytics processes by comparing it to using a map. Plus I think I made a mistake in my last comment. It's prescriptive analytics that requires more resources, not descriptive.
JohnBarnes
2/28/2017 8:40:45 PM
User Rank Platinum
Re: Verizon's ThingSpace
srufulo1,
I was thinking about that the other night: that the type of analytics is all but unrelated to the volume of data or the complexity of processing. Some descriptions require huge volumes of data, some are a simple formula and a couple of anchor points. Some prescriptions are only accessible by gigantic crunching machine learning, others by a clever back of the envelope drawing. The why and how of that are only just beginning to be understood, except in a very broad way related to very particular cases.
dlr5288
2/28/2017 4:07:09 PM
User Rank Platinum
Re: Verizon's ThingSpace
I love the way you put it! But it's very true. You have to know where you've been to know where you should go. It's important to understand that so you can move forward and not make the same mistakes.
Re: Verizon's ThingSpace
@srufolo: This is where ThingSpace can potentially help the VZ analytics (as opposed to merely the other way around), thanks to the sharing economy. As a platform, ThingSpace attracts lots of developers, and VZ seems to have their DevOps game down here.
Re: Machines that tell the future
Agreed. We all know these companies are collecting data about the users and analyzing it. I'm actually more concerned about how much of this data is actually sold and how easily we're just willing to allow them to take data about us.
Michelle
2/28/2017 11:18:35 PM
User Rank Platinum
Re: Re: Machines that tell the future
@Steve what happens when that data is compromised?
Re: Re: Machines that tell the future
@Steve: Also bear in mind that Millennials are growing up in his environment of "give us all your data to use all the services all your friends use," so it's pretty much a way of life now.
(Incidentally, remember a few years ago when it was all the rage for people to delete their Facebook accounts because Facebook was so big and bad and evil and data-abusing? lol. Didn't last long.)
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