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The only way to get rich is to find and exploit a niche

You all should be continuously trying to study and find ways...
pedude
  02/08/18
...
pedude
  02/08/18
Can u suggest one that's easy to learn and cheap to get into...
...,...,.::..;,.,:,:,,..,::.,:,.,.:.:.,:.::.,
  02/08/18
Software
pedude
  02/09/18
ah yes, the niche industry of "software"
bumpin that bone thugs 'til i die
  02/11/18
spin, ratfucks
THE NOTORIOUS SIX. FOOT. THREE.
  02/11/18
...
jared kushner
  02/11/18
I can't give you all the answers bro There are niche area...
pedude
  02/11/18
Just do write some machine learning software bro
jared kushner
  02/12/18
yea this seems to be I dont know "the rub"
leolenin
  02/12/18
You got any better ideas? AI is going to blow up in our l...
pedude
  02/12/18
we don't have the ability to contribute *anything* meaningfu...
leolenin
  02/12/18
That's why I said in my op you better start learning an indu...
pedude
  02/12/18
so just become an AI industry tranny lawyer and trial counse...
MoreDoughHi
  02/12/18
How about not confine yourself to strictly law positions
pedude
  02/12/18
i'm getting every dollar out of this doctorate.
MoreDoughHi
  02/12/18
...
leolenin
  02/12/18
I like your optimism bro, keep us updated
leolenin
  02/12/18
You gotta be optimistic bro Keep your head up Keep loo...
pedude
  02/12/18
That’s great that you’re doing that. But as a CS bro I’ll te...
jared kushner
  02/12/18
but maybe you could learn enough about AI to help companies ...
leolenin
  02/12/18
I don't want to go that deep, although I am currently trying...
pedude
  02/12/18
Very nice. Accounting is ripe with opportunities to apply ML...
jared kushner
  02/12/18
Do you have email? I'd love to chat with you offline about t...
pedude
  02/12/18
Np arthur.breitman@protonmail.ch
jared kushner
  02/12/18
So how would you go about developing this kind of software i...
pedude
  02/12/18
First I’ll say that the poaster below is right when he says ...
jared kushner
  02/12/18
Any good primers or books off amazon I could buy to dig deep...
pedude
  02/12/18
people already use machine learning for invoice matching ...
warrington wolves
  02/12/18
That's one application of many potential. Also many MANY com...
pedude
  02/12/18
we are decades away from that sort of general problem solvin...
warrington wolves
  02/12/18
Did Steve Jobs and Bill Gates have PhDs in CS. Look at their...
'''"'''"''''""
  04/02/18
Just do grab a chill PhD in CS with fratty groundbreaking re...
jared kushner
  02/12/18
np I hear its globally competitive too so even better
leolenin
  02/12/18
Bingo, bro
pedude
  02/12/18
lmao
warrington wolves
  02/12/18
The data science fad is already 6 years old. A bit late for ...
.,......,.,.,.,:,,:.,,.,::;.,..,:,.,,:..;,,:.::,,
  02/12/18
Except there are still a fuckton of companies not using it t...
pedude
  02/12/18
https://www.evanmiller.org/predictive-analytics.html “Pre...
warrington wolves
  02/12/18
lmao no one will succeed in predictive analytics without a d...
Billmonger eating T'challah bread
  04/02/18
...
USS Idris Elba
  02/12/18
(it is 1973)
jared kushner
  02/11/18
have an ICO
pog
  02/12/18
...
pedude
  02/11/18
COP
I'm retarded and gay btw
  02/11/18
Trying to spread the message here brother This is what th...
pedude
  02/11/18
That poaster is a huge faggot btw
I'm retarded and gay btw
  02/11/18
Why
pedude
  02/11/18
because I'm retarded and gay btw
I'm retarded and gay btw
  02/12/18
spin, ratfucks
THE NOTORIOUS SIX. FOOT. THREE.
  02/11/18
Brothel owner
.,.,,.;;...;;.;;;.;.;.....;.;;;;.....;
  02/11/18
go on. . .
USS Idris Elba
  02/12/18
...
pedude
  02/12/18
(Tim Ferris)
As it turns out
  02/12/18
...
.,......,.,.,.,:,,:.,,.,::;.,..,:,.,,:..;,,:.::,,
  02/12/18
interstellar torts
sealclubber
  02/12/18
bird watching
MoreDoughHi
  02/12/18
what about opening a cheap niche gym, using specialized (but...
michael doodikoff
  02/12/18
steampunk gym. wear old timey workout clothes and can smoke ...
MoreDoughHi
  02/12/18
5 years too late. starting strength and crossfit fad is done...
linen dood
  02/12/18
this is different like every class based gym around here ...
michael doodikoff
  02/12/18
Luxury dick sucker
,.,.,.,..,.,.,:,,:,,.,:::,.,,.,:.,,.:.,:.,:.::,.
  02/12/18
Example: kosher tax
pepito
  02/12/18
diapering app
Nigel
  02/12/18
Odd thread
leolenin
  02/12/18
Why
pedude
  02/12/18
...
Nigel
  02/12/18
Idk I got excited by your message and optimism but just lear...
leolenin
  02/12/18
There's always more to learn about the space Those who ta...
pedude
  02/12/18
...
pedude
  02/20/18
...
pedude
  04/02/18
what if i think consumption is bad
metaphysics is gay
  04/02/18
...
pedude
  06/12/18
Im gonna start a pizza chain faggot i dont know what youre t...
average/ordinary/typical citizen/person
  06/12/18
...
pedude
  06/13/18
i have finally figured out a way to do this
pedude
  06/20/18
wow, nobody has ever thought of this before i’m sure you’...
.,.,.;;,;.,..,:,,:,;.,:::,..;.,:,.,..:.,,.:.,:.::,
  06/20/18


Poast new message in this thread



Reply Favorite

Date: February 8th, 2018 6:39 PM
Author: pedude

You all should be continuously trying to study and find ways of uncovering profitable micro niche industries so that you can either one day acquire them and run them yourself or invest in them

If you are not doing this right now you will forever remain a wagecuck

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35358158)



Reply Favorite

Date: February 8th, 2018 10:10 PM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35359605)



Reply Favorite

Date: February 8th, 2018 10:13 PM
Author: ...,...,.::..;,.,:,:,,..,::.,:,.,.:.:.,:.::.,


Can u suggest one that's easy to learn and cheap to get into

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35359636)



Reply Favorite

Date: February 9th, 2018 9:41 PM
Author: pedude

Software

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35366966)



Reply Favorite

Date: February 11th, 2018 9:57 PM
Author: bumpin that bone thugs 'til i die (askav)

ah yes, the niche industry of "software"

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380655)



Reply Favorite

Date: February 11th, 2018 9:59 PM
Author: THE NOTORIOUS SIX. FOOT. THREE.

spin, ratfucks

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380671)



Reply Favorite

Date: February 11th, 2018 10:00 PM
Author: jared kushner (Straight to the Moon!)



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380678)



Reply Favorite

Date: February 11th, 2018 11:45 PM
Author: pedude

I can't give you all the answers bro

There are niche areas in the software space that are going to blow the fuck up soon

Look at predictive analytics software, for example

Gotta do your own research

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35381443)



Reply Favorite

Date: February 12th, 2018 1:26 PM
Author: jared kushner (Straight to the Moon!)

Just do write some machine learning software bro

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384705)



Reply Favorite

Date: February 12th, 2018 1:29 PM
Author: leolenin

yea this seems to be I dont know "the rub"

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384729)



Reply Favorite

Date: February 12th, 2018 1:41 PM
Author: pedude

You got any better ideas?

AI is going to blow up in our lifetimes

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384839)



Reply Favorite

Date: February 12th, 2018 1:45 PM
Author: leolenin

we don't have the ability to contribute *anything* meaningful to the world of AI or advanced software. We need niche things that don't require technical skills, which quite frankly do not exist.

I think aging in place market is a good place to focus tho

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384891)



Reply Favorite

Date: February 12th, 2018 1:54 PM
Author: pedude

That's why I said in my op you better start learning an industry to an almost aspie-like degree

I'm starting to read a shit ton about AI and machine learning now

Do I know where all this will take me? Not yet. But I need to read in order to build a compelling thesis about the industry. But it requires legwork. Without doing the research and building your own thesis, you're shooting in the wind and you won't be successful. I'm even thinking of potentially starting an AI consulting firm to help companies navigate a niche area of the space and help them build in house AI tools. Just an idea, we'll see where that takes me

You're looking at all the reasons you CANT do shit. You need to start looking at the reasons you can.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384961)



Reply Favorite

Date: February 12th, 2018 1:56 PM
Author: MoreDoughHi

so just become an AI industry tranny lawyer and trial counsel?

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384977)



Reply Favorite

Date: February 12th, 2018 2:07 PM
Author: pedude

How about not confine yourself to strictly law positions

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385106)



Reply Favorite

Date: February 12th, 2018 2:12 PM
Author: MoreDoughHi

i'm getting every dollar out of this doctorate.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385146)



Reply Favorite

Date: February 12th, 2018 2:16 PM
Author: leolenin



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385172)



Reply Favorite

Date: February 12th, 2018 1:56 PM
Author: leolenin

I like your optimism bro, keep us updated

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384983)



Reply Favorite

Date: February 12th, 2018 2:07 PM
Author: pedude

You gotta be optimistic bro

Keep your head up

Keep looking for opportunities. They are out there if you're looking for em

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385094)



Reply Favorite

Date: February 12th, 2018 2:08 PM
Author: jared kushner (Straight to the Moon!)

That’s great that you’re doing that. But as a CS bro I’ll tell you that you’ll need at least PhD-level knowledge to make real contributions in industry. I’m considering doing this myself. May want to look into it if you’re that interested

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385114)



Reply Favorite

Date: February 12th, 2018 2:11 PM
Author: leolenin

but maybe you could learn enough about AI to help companies with a lot of data learn how to package that data in way AI companies would pay for...something like that.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385137)



Reply Favorite

Date: February 12th, 2018 2:25 PM
Author: pedude

I don't want to go that deep, although I am currently trying to read about machine learning and gain more than a surface level understanding of it. My background is actually in accounting.

My ultimate aim is actually to create automated accounting software which uses machine learning. I want the software to help humans make better business decisions--this is the future of the accounting industry. Machine learning is not really being used in conjunction with accounting software...yet. My preliminary theory is that the person or persons who is first to market with this software will be the next bill gates. Granted -- there's a lot of details to be worked around obviously, but the thing about accountants is that they tend to be conservative and like the status quo. Very few accountants (besides researchers at the university level) are even trying to gain greater knowledge base in this area, so the ones in my industry who are making an investment of time in this area will be well positioned down the line

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385260)



Reply Favorite

Date: February 12th, 2018 2:29 PM
Author: jared kushner (Straight to the Moon!)

Very nice. Accounting is ripe with opportunities to apply ML and it will probably disrupt the industry.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385293)



Reply Favorite

Date: February 12th, 2018 2:35 PM
Author: pedude

Do you have email? I'd love to chat with you offline about this.

I'm not doobs btw lol

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385349)



Reply Favorite

Date: February 12th, 2018 3:54 PM
Author: jared kushner (Straight to the Moon!)

Np

arthur.breitman@protonmail.ch

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386109)



Reply Favorite

Date: February 12th, 2018 4:15 PM
Author: pedude

So how would you go about developing this kind of software if you were in my shoes?

Granted, I'm trying to learn as much as I can as fast as I can, but I'd appreciate insight from someone who knows more about this shit than I do

I will say though that for the first time in a long time I can honestly say I'm excited to be in the accounting industry at this time in history. Never thought I'd say that

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386247)



Reply Favorite

Date: February 12th, 2018 4:23 PM
Author: jared kushner (Straight to the Moon!)

First I’ll say that the poaster below is right when he says that ML only works on well defined problem domains. So if I were you I’d look through the academic research to see if there’s anything you can crib that hasn’t been adopted yet. Of course to do this you’d need to be conversant in math and stats to interpret the research. If you already have the coding and math then find whatever problem you want to solve, learn the ML technique applicable and code out a demo

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386327)



Reply Favorite

Date: February 12th, 2018 4:37 PM
Author: pedude

Any good primers or books off amazon I could buy to dig deeper in this space?

Greatly appreciated

I will start looking for research on this area too

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386446)



Reply Favorite

Date: February 12th, 2018 2:33 PM
Author: warrington wolves

people already use machine learning for invoice matching

it doesn't have many other applications in accounting that i can think of

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385334)



Reply Favorite

Date: February 12th, 2018 2:38 PM
Author: pedude

That's one application of many potential. Also many MANY companies aren't even using it for invoice matching. Invoice payments is a painful, manual process for MANY companies, and it shouldn't be

I'm talking about a software that can actually give human beings suggestions on how to improve profitability and operations. To free accountants to focus on higher level tasks

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385376)



Reply Favorite

Date: February 12th, 2018 3:46 PM
Author: warrington wolves

we are decades away from that sort of general problem solving. machine learning works when you have a clearly defined problem.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386034)



Reply Favorite

Date: April 2nd, 2018 12:50 PM
Author: '''"'''"''''""


Did Steve Jobs and Bill Gates have PhDs in CS. Look at their contributions. Now look at the contributions by irl PhDs.

Further explain.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35744175)



Reply Favorite

Date: February 12th, 2018 1:46 PM
Author: jared kushner (Straight to the Moon!)

Just do grab a chill PhD in CS with fratty groundbreaking research in statistical learning, bro

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384901)



Reply Favorite

Date: February 12th, 2018 1:47 PM
Author: leolenin

np I hear its globally competitive too so even better

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384913)



Reply Favorite

Date: February 12th, 2018 1:40 PM
Author: pedude

Bingo, bro

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384832)



Reply Favorite

Date: February 12th, 2018 1:30 PM
Author: warrington wolves

lmao

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384738)



Reply Favorite

Date: February 12th, 2018 2:19 PM
Author: .,......,.,.,.,:,,:.,,.,::;.,..,:,.,,:..;,,:.::,,


The data science fad is already 6 years old. A bit late for that.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385201)



Reply Favorite

Date: February 12th, 2018 2:29 PM
Author: pedude

Except there are still a fuckton of companies not using it to their best capability

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385292)



Reply Favorite

Date: February 12th, 2018 2:34 PM
Author: warrington wolves

https://www.evanmiller.org/predictive-analytics.html

“Predictive analytics” and “Big Data” are exciting concepts to geeks, investors, and businesspeople, but in many ways they are hammers still in search of nails. There have been a few high-profile successes, not to mention breathless books about our Big Data future, but it can be hard to cut through all the hyperbole. Since I develop statistics software, I spend a lot of time thinking about what this analytics stuff can actually be used for, and thought I’d share my perspective.

Before diving in too deeply, I should define what I mean by predictive analytics. Here I mean a model that predicts some outcome given information on multiple influencing factors. The outcome might be which team will win a basketball game, or a high school kid’s chances of admission to various colleges. These models must be estimated from data. Although various kinds of predictive analytics have been around for a long time, there has been recent surge of interest in the subject because “Big Data” is promising models of things we couldn’t model before.

But as a poet once asked about war: what is it good for? When it comes down to it, I think predictive analytics has basically two classes of business applications that generalize to multiple industries:

Individual recommendations in a sea of information

Predicting failure rates

There are other niche applications, but those two are the big ones. Recommendation systems have been written about extensively elsewhere (see especially the history of recommendations at Amazon and the fable of the pregnant teenager and the unscented lotion). I’ll talk about large product catalogs and recommendation systems another day; but in this post I want to talk about failure rates, and how predictive models can reduce them. Along the way I want to answer the question: which businesses should be paying more attention to predictive modeling?

And conversely, which industries should ignore the hype, plug their ears, and go about their business?

Fraud and Failure

“Failure” is a broad term; in my mind it just means a costly outcome to an uncertain event. It could be anything from failing a term paper to all-out global nuclear warfare. Even though avoidable failures are a source of untold costs throughout the world economy, failure doesn’t get very much attention in the media, except perhaps when it involves plane crashes, botched surgeries, or celebrity outfits. Like the insurance business, failure rates are depressing to think about and boring to discuss.

Insurance is the business of predicting failure, which perhaps explains its reputation for dullness. Actuarial science, of course, is the original predictive analytics. For hundreds of years now, insurance companies have been estimating the probability of death or accident in order to set premiums. Historically, the accuracy of a few columns of digits on an actuarial table could spell the difference between a firm’s profit and its ruin. So for the modern insurance firm, embracing “predictive analytics” just means business as usual.

But even in insurance, there’s a non-obvious application of predictive analytics: deciding when to send an investigator to verify an insurance claim. Investigation is costly, and reducing the rate of frivolous investigations — and increasing the rate of detected frauds — increases the firm’s profit. Although not as essential as the core actuarial models, being able to predict insurance fraud is a business function perfectly suited to predictive analytics.

In fact, any business that deals regularly with fraud would benefit from predictive analytics. Credit card companies are the most obvious; anecdotally I have heard that their models are woefully unsophisticated. Part of the reason for this may be that they force merchants to bear the costs of fraud through “chargeback”. As a result, any company that lives in fear of next month’s chargeback rate would be prudent to consider predictive analytics. (Consumer-facing internet companies are especially prone to this fear.)

Government agencies are susceptible to fraud, particularly when they disburse cash benefits or collect taxes. Any government agency that employs fraud investigators (there are many) would be irresponsible not to use predictive analytics in order to deploy them most effectively. A greater number fraudsters would be prosecuted, and fewer innocents would be harassed.

Conversely, companies that operate in environments of high trust do not really need predictive analytics, at least when it comes to deciding whether to approve transactions. In these cases, predictive analytics would tend to undermine trust. When a friend asks to borrow your car, you don’t first ask for his credit score.

Predictive analytics may create new business opportunities in traditional industries. I think bail bonding is an excellent example of an industry that could be radically transformed by predictive analytics. Of course, statistically savvy bondsmen would find themselves with little to do if judges first start using predictive analytics to set bail.

Sales and Advertising

Any good salesman is accustomed to having the door slammed in his face; as with getting dates with strangers, sales consists mostly of rejection. Spending time with a prospect without closing a sale constitutes failure in the sense I described above. So in industries where salesmen have more leads than they have time to pursue, predictive analytics could increase sales by picking out the most promising leads out of the shoebox.

In fact, Michael Dell used a primitive form of predictive analytics to sell newspapers as a teenager. He figured newlyweds and people who just bought houses were the most likely to start a newspaper subscription. Supposedly he used the technique to earn more money in a summer than his teachers earned all year.

You can think of political campaigns as sales with other ends. As such, predictive analytics was a boon for determining how to persuade voters in the 2012 presidential campaign. Who should we call? Who should we not call? What phrases should we use? In some ways, predictive analytics is just a codification of a great politician’s instincts. (For that matter, future county politicians may hone their techniques by reading regression results.)

Advertising is sales in print. Online advertisers pride themselves in their statistical sophistication with A/B testing, but the technique has been used in direct-mail advertising for at least a hundred years. Predictive analytics can take A/B testing to the next level with personalized messaging in both direct-mail and online advertisements. (For some technical ideas, see my previous article, “Linear Regression for Fun and Profit”.)

Conversely, predictive analytics is useless when selling to a small number of customers; just call all the phone numbers on the list, predictions be damned. In advertising, predictive analytics is useless if advertisements cannot be targeted, or if responses cannot be measured. If you’re thinking of buying a Super Bowl ad, then forget predictive analytics. Just do old-fashioned market research.

Revenue Management

A number of industries face another kind of costly failure that might be averted with predictive analytics: failure to sell non-durable inventory.

The classic examples are hotels, airlines, and railroads. Their facilities have fixed capacities, and the companies lose money on every empty bed, seat, and boxcar. Unsold inventory is costly to any business, but the cost is especially acute when the product can’t be put into storage. A hotel with 500 rooms can’t sell rent out 200 beds one night and 800 the next.

For years, these industries have been applying operations research and predictive analytics in order to set the right prices at the right times in order to maximize profit. The prices are carefully tuned to the time of year, the day of week, the weather, and anything else the model says is important.

More recently, baseball stadiums have been applying similar techniques to sell more seats at games. Franchise owners enjoy an added benefit of selling unused inventory, which is that games tend to be more exciting when the stadium is packed. (On the other hand, airplane flights tend to be less pleasant when they are completely full.)

It’s possible that other industries could use similar techniques to manage their revenue, but they need to have a few key characteristics:

The first characteristic is the ability to change prices over time. Otherwise there’s no lever to push.

The second characteristic is fluctuating demand. Otherwise there’s no point in moving the prices.

The third characteristic is a fixed capacity. Otherwise inventory could just be stored and retrieved to meet demand.

Upon reading about airlines’ sophisticated pricing and predictive models, it’s tempting to think “Let’s do that!” But unless an industry has characteristics similar to airlines, there’s not much value sitting the proverbial table. Still, it’s not hard to think of industries that stand to benefit from these kinds of models: buses and shuttle services, live music and theater, and container shipping, to name a few.

Not For Eveyone

Thus far I’ve argued that predictive analytics can assist any industry for which a failure rate (broadly defined) is a major source of costs: insurance, sales, and airlines were the big ones that I could think of, but there are others: oil and gas companies have been building sophisticated predictive models for years, professional sports teams have all gone Moneyball, and the members of the financial sector regularly obsess over the probability of credit and loan defaults. Personalized medicine seems to be the source of the next big wave of predictive successes.

So there are applications aplenty, and predictive analytics (I predict) is here to stay. But then which industries don’t often deal with predictable failure, and can basically ignore all the hubbub?

Industries built on a small number of permanent relationships have little need for predictive analytics. Wholesalers, for instance, can do without predictive analytics unless they happen to deal with a large amount of theft, damage, or default. Law firms that have a handful of clients should probably just keep doing what they are paid to do: represent their clients’ interests. Even though law firms often deal with failure in the form of lost lawsuits, there’s not much predictive analytics can do except recommend better clients.

Retail operations might benefit from sales forecasting, but that is more the domain of traditional operations research. They would also benefit from reducing chargeback from credit card companies, but for an in-person purchase, they often don’t have much information to go on. (Do credit card thieves buy fewer Bibles?) Experiments are an old technique in retail — putting bread and milk at opposite ends of the store, and so on — but predictive analytics does not have much extra insight to offer. As I alluded in the introduction, the only substantive application of predictive analytics in retail is cross-merchandising a large catalog.

Manufacturers might use predictive analytics in order to study why parts failed out in the field, but for the most part, predictive analytics is irrelevant to the average factory. All manufacturers experience failures on the assembly line, but these are probably analyzed well enough with pivot tables and a good pair of boots. Statistical analysis is of course central to quality control and to demand forecasting, but the models typically associated with “predictive analytics” — models which presage an outcome by analyzing multiple influencing factors — are probably not of much use. (Predicting the success or failure of R&D projects is a different matter.)

In Sum

Predictive analytics comprises a powerful set of statistical techniques, but outside of insurance, it won’t make or break the average company. It may provide a competitive edge and enable new business opportunities, but it’s not the only sword that cuts. In the grand scheme of business, competent leadership, good products, and strong customer loyalty are usually more important.

No one likes to think about failure, but I think preventing failures is the real “killer application” of predictive analytics — it’s at least as important as the traditional flagship, “Customers also bought…”. A well-tested predictive model is like having an experienced business analyst that can size up a situation quickly and tell you if something doesn’t smell right. So if failure rates are an important source of costs in your business — and if you think the failure rates could be reduced with better information and judgment — then predictive analytics just might help your organization drive down costs, pursue promising leads, and increase profitability.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385341)



Reply Favorite

Date: April 2nd, 2018 12:15 PM
Author: Billmonger eating T'challah bread (playing with gay dog boners since 2013)

lmao no one will succeed in predictive analytics without a dataset that is so large it could only have been amassed by an already-existing billion dollar company

this is why all important data science work is done in house at Google/FB/etc. or at R1 universities that can buy/license the data from FB, for example, which is how Cambridge Analytica (another big money company via SCL) got their FB data, by buying it from a scientist who had licensed it from FB

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35743848)



Reply Favorite

Date: February 12th, 2018 3:44 PM
Author: USS Idris Elba (MAKE WAKANDA GREAT AGAIN)



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386009)



Reply Favorite

Date: February 11th, 2018 9:59 PM
Author: jared kushner (Straight to the Moon!)

(it is 1973)

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380677)



Reply Favorite

Date: February 12th, 2018 5:36 PM
Author: pog

have an ICO

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386901)



Reply Favorite

Date: February 11th, 2018 8:05 PM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35379827)



Reply Favorite

Date: February 11th, 2018 8:06 PM
Author: I'm retarded and gay btw

COP

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35379845)



Reply Favorite

Date: February 11th, 2018 9:56 PM
Author: pedude

Trying to spread the message here brother

This is what the poster "an idiot paying your grandma" did and now look at him

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380646)



Reply Favorite

Date: February 11th, 2018 10:39 PM
Author: I'm retarded and gay btw

That poaster is a huge faggot btw

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35381010)



Reply Favorite

Date: February 11th, 2018 11:43 PM
Author: pedude

Why

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35381432)



Reply Favorite

Date: February 12th, 2018 12:45 PM
Author: I'm retarded and gay btw

because I'm retarded and gay btw

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384375)



Reply Favorite

Date: February 11th, 2018 9:59 PM
Author: THE NOTORIOUS SIX. FOOT. THREE.

spin, ratfucks

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35380672)



Reply Favorite

Date: February 11th, 2018 11:44 PM
Author: .,.,,.;;...;;.;;;.;.;.....;.;;;;.....;


Brothel owner

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35381434)



Reply Favorite

Date: February 12th, 2018 3:44 PM
Author: USS Idris Elba (MAKE WAKANDA GREAT AGAIN)

go on. . .

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386013)



Reply Favorite

Date: February 12th, 2018 12:43 PM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384365)



Reply Favorite

Date: February 12th, 2018 12:47 PM
Author: As it turns out

(Tim Ferris)

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384392)



Reply Favorite

Date: February 12th, 2018 2:19 PM
Author: .,......,.,.,.,:,,:.,,.,::;.,..,:,.,,:..;,,:.::,,




(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385204)



Reply Favorite

Date: February 12th, 2018 12:59 PM
Author: sealclubber

interstellar torts

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384513)



Reply Favorite

Date: February 12th, 2018 1:26 PM
Author: MoreDoughHi

bird watching

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384710)



Reply Favorite

Date: February 12th, 2018 1:28 PM
Author: michael doodikoff

what about opening a cheap niche gym, using specialized (but expensive) equipment that no one else has. for example https://www.rise-nation.com/

Charge $16-18 per person per class, run three classes in the morning, two around lunch, and 3-4 in the evening.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384725)



Reply Favorite

Date: February 12th, 2018 1:42 PM
Author: MoreDoughHi

steampunk gym. wear old timey workout clothes and can smoke cigarettes and pipes inside.

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384852)



Reply Favorite

Date: February 12th, 2018 1:44 PM
Author: linen dood (luis)

5 years too late. starting strength and crossfit fad is done

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384872)



Reply Favorite

Date: February 12th, 2018 3:14 PM
Author: michael doodikoff

this is different

like every class based gym around here is fully booked all the time. THe versaclimber shits all over every other machine in terms of efficiently and effectiveness. I use it every single day and its amazing. I'm a true believer. The Rise Nation one in LA is expanding to Dallas and Miami right now, and its killing it. No versaclimber gyms in the entire southeast that I am aware of (Miami doesn't count).

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385722)



Reply Favorite

Date: February 12th, 2018 1:48 PM
Author: ,.,.,.,..,.,.,:,,:,,.,:::,.,,.,:.,,.:.,:.,:.::,.


Luxury dick sucker

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35384919)



Reply Favorite

Date: February 12th, 2018 2:40 PM
Author: pepito

Example: kosher tax

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35385409)



Reply Favorite

Date: February 12th, 2018 4:15 PM
Author: Nigel

diapering app

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386262)



Reply Favorite

Date: February 12th, 2018 4:55 PM
Author: leolenin

Odd thread

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386555)



Reply Favorite

Date: February 12th, 2018 5:23 PM
Author: pedude

Why

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386772)



Reply Favorite

Date: February 12th, 2018 5:28 PM
Author: Nigel



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35386819)



Reply Favorite

Date: February 12th, 2018 6:00 PM
Author: leolenin

Idk I got excited by your message and optimism but just learning machine learning/ai enough to make a novel contribution seems far fetched and then you start asking for amazon primers. Just odd thread

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35387105)



Reply Favorite

Date: February 12th, 2018 7:20 PM
Author: pedude

There's always more to learn about the space

Those who take the time to really learn the AI ecosystem in a very deep way will be well rewarded

But that was the whole point of my thread too - you need to find a niche and continuously find ways to learn more

Always be learning. That's my motto

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35387635)



Reply Favorite

Date: February 20th, 2018 12:08 AM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35442352)



Reply Favorite

Date: April 2nd, 2018 11:45 AM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35743586)



Reply Favorite

Date: April 2nd, 2018 1:10 PM
Author: metaphysics is gay

what if i think consumption is bad

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#35744315)



Reply Favorite

Date: June 12th, 2018 7:08 PM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#36233426)



Reply Favorite

Date: June 12th, 2018 7:10 PM
Author: average/ordinary/typical citizen/person

Im gonna start a pizza chain faggot i dont know what youre talking about

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#36233436)



Reply Favorite

Date: June 13th, 2018 12:40 PM
Author: pedude



(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#36237917)



Reply Favorite

Date: June 20th, 2018 3:47 PM
Author: pedude
Subject: i have finally figured out a way to do this

research products on amazon to see which ones are selling well

find a company that manufactures these types of products

profit!

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#36279721)



Reply Favorite

Date: June 20th, 2018 3:59 PM
Author: .,.,.;;,;.,..,:,,:,;.,:::,..;.,:,.,..:.,,.:.,:.::,


wow, nobody has ever thought of this before

i’m sure you’ll make millions

(http://www.autoadmit.com/thread.php?thread_id=3887362&forum_id=2#36279790)