A Better Data Revolution | Praveen Kopalle | TEDxDartmouth
While the lure (and lore) of big data is tempting, Praveen Kopalle posits that the big data revolution really is a “better data” revolution. He presents results of two real-life case studies in big data and predictive analytics where multi-billion dollar companies were able to leverage the power of data to make better managerial decisions. He describes why data mining and machine learning, despite their obvious value, will never obviate the need for marketing and economic theory (i.e. “where to look in the data”), while revealing the importance of experimentation and exogenous variation, how managerial knowledge and statistical methods can lead to smart data compression, how better data will feed into predictive models, and how firms are likely to use these models for decision making. Praveen Kopalle is Associate Dean for the MBA Program, Signal Companies’ Professor of Management, Professor of Marketing at the Tuck School of Business, Dartmouth College. Praveen received his Ph.D. from Columbia University, MBA from Indian Institute of Management, Bangalore, and B.E. from Osmania University. Professor Kopalle’s teaching and research interests are in Marketing, Statistics, Pricing, new products/innovation, promotions, customer expectations, and e-commerce. Praveen’s research has been published in many top-tier journals including Journal of Consumer Research, Journal of Marketing Research, Marketing Science, Management Science, International Journal of Research in Marketing, etc. He has been invited to speak at over fifty universities and institutes worldwide. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx