3. “You can have data without information,
but you cannot have information without
data.”
– Daniel Keys Moran, an American computer programmer and science fiction writer.
4. Bottom-up approach
Start with the data
Problems:
• Relies on a flood of all the data
• Not all data is created equal
• Time consuming
• Analysis paralysis
5. Top-down approach
Start with objectives
Benefits:
• Focused approach
• Gives an idea on what to look for
• Gives structure
9. Descriptive, Predictive
& Prescriptive
Predictive Prescriptive
What could happen in
the future
Advising on possible
outcomes
• Statistical models
• Forecasting
• Optimisation
algorithms
• Simultion algorithms
Descriptive
What has happened in
the past
• Data aggregation
• Data mining
Credit Scores
Learn, Adapt,
Overcome
Tracking what
worked