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You're reading from  AI & Data Literacy

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Published inJul 2023
PublisherPackt
ISBN-139781835083505
Edition1st Edition
Concepts
Artificial Intelligence
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Bill Schmarzo
Bill Schmarzo
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Bill Schmarzo

Bill Schmarzo, The Dean of Big Data is a University of San Francisco School of Management Executive Fellow and an Honorary Professor at the School of Business and Economics at the National University of Ireland-Galway where he teaches and mentors students in his courses “Big Data MBA” and “Thinking Like a Data Scientist". He is the author of Big Data: Understanding How Data Powers Big Business, Big Data MBA: Driving Business Strategies with Data Science, and The Art of Thinking Like a Data Scientist. He has written countless whitepapers, articles and blogs, and given keynote presentations and university lectures on the topics of data science, artificial intelligence/machine learning, data economics, design thinking and team empowerment.
Read more about Bill Schmarzo

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Probabilities are Still Just Probabilities, Not Facts

FiveThirtyEight.com is one of the most respected analytics sites on the internet. The quality of their predictions is legendary. In the 2008 presidential election of Obama versus McCain, FiveThirtyEight (and its founder Nate Silver) correctly predicted the presidential winner in 49 out of 50 states, as well as the winner of all 35 Senate races. As if that was not enough, in the 2012 presidential election of Obama versus Romney, FiveThirtyEight correctly predicted not only Barack Obama's victory but the outcome of the presidential contest in all 50 states.With that track record as background, FiveThirtyEight predicted a 58.5% probability that the Republicans would gain control of the U.S. Senate by taking 51 or more seats in the 2022 midterm elections, as highlighted in the analysis in the below image. ADD

Figure 6.4: FiveThirtyEight 2022 Midterm Elections Predictions

Unfortunately, even the best and brightest can’t always...

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AI & Data Literacy
Published in: Jul 2023Publisher: PacktISBN-13: 9781835083505
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Bill Schmarzo

Bill Schmarzo, The Dean of Big Data is a University of San Francisco School of Management Executive Fellow and an Honorary Professor at the School of Business and Economics at the National University of Ireland-Galway where he teaches and mentors students in his courses “Big Data MBA” and “Thinking Like a Data Scientist". He is the author of Big Data: Understanding How Data Powers Big Business, Big Data MBA: Driving Business Strategies with Data Science, and The Art of Thinking Like a Data Scientist. He has written countless whitepapers, articles and blogs, and given keynote presentations and university lectures on the topics of data science, artificial intelligence/machine learning, data economics, design thinking and team empowerment.
Read more about Bill Schmarzo

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