EP020: Data + Knowledge Base = A "Model" Business System with George Danner
from Commanding Business
Joining together the formidable pattern recognition abilities of the human mind with the agility of data-driven simulation modeling is a company's best option for overcoming challenges. Business Laboratory captures information from experts in your organization to gain insights and systematically inserts the scientific method to create a living model of your business. Key Takeaways: [1:48] Building simulation models for companies with lots of moving parts [4:28] Modeling is mimicking real life in a simulated world [6:38] Pattern recognition in the human mind is visual [9:24] Information from experts is key [10:37] Augmenting humans with computer models [11:45] A hackathon example from Praxent [16:28] Data is the fuel for scientific investigation [17:32] Legacy industries can benefit from analytics - Moneyball example [20:21] Which came first the data or the hypothesis [25:38] Applying the scientific method to business [31:04] Debates driven by data are essential to today’s businesses [32:45] Programmers are excellent problem solvers [34:53] Hiring techniques for problem solvers are outdated [37:30] Revealing thought processes [38:11] The analytical sandbox is a place for talented people to play [41:13] Contact information for George Mentions: Business Laboratory Profit from Science Praxent Moneyball Great by Choice The Progress Principle
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