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NACHIKETA .

Sparks Nov'13
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NACHIKETA . last won the day on December 8 2013

NACHIKETA . had the most liked content!

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About NACHIKETA .

  • Rank
    Advanced Member
  • Birthday 12/23/1991

Profile Information

  • Name
    Nachiketa
  • Company
    Indian Institute of Management Ranchi
  • Designation
    Student
  1. Thanks Deepika for the effervescent praise. As I have already stated that one of the main features of a DSS is that it is able to solve complex and unstructured problems. It is designed in a way that allows queries of any type so on that front your concerns will be minimal. In the second case though, where there isn't enough data or data understanding is low, These systems may take an incomplete/inaccurate decision. But even in such cases, the decision of the D3M system will be much more accurate than the decision of a human who's placed in the same situation.
  2. Thanks Sasi Msb, glad that you found the article informative and I do recognize the need of more time to explore this hidden gem properly. Lets try and work out something together.
  3. Thanks Nishant. It is indeed a great time for us humans. To be able to synergize our intuitive thinking with newer and richer Data Driven Approach, is a win win situation for all stakeholders.
  4. Integrity and Reliability of the data in the knowledge base is one of the cornerstones of D3M. With the advent of Big data and easy availability of data the need for credible information has grown all the more. Therein lies the great chance. the chance to fulfill the huge potential of being a credible source of information. Many firms will strive to achieve that in the near future. A few days ago, Apple bought the Twitter Analytics company Topsy for 200 Million. This shows the importance that analytics will play in the near future. A DSS not only depends on a lot of external data tha
  5. Thanks Kaustabh, Glad that I was able to shed some light on this matter and help you in whatever little way I could.
  6. I'll take it as compliment towards my marketing skills, Sir. But that just illustrates the power of Data and Networking in today's world. I received information of my selection a few days back. Shared the Link for the same across all my Social Networking Accounts and my blog, and here we are at 50 comments in a day with lots of interesting queries still to be answered and time running out. Credit goes to the Benchmark Six Sigma Team for highlighting such an important issue that people of all ages flocked to read the article and clarify their doubts regarding the same. And It isn't restr
  7. One of the most successful uses of Data Driven Decision making has been in the field by Human resources by various HR consultancies and Government Institutions in the US. Some of the Key areas that they have identified are: 1. Using HR Analytics to diagnose key drivers of organization/business performance 2. Rigorously evaluating the effects of HR interventions 3. Assessing costs and consequences of important employee behaviors (e.g., turnover) 4. Strategic Workforce Planning 5. Predictive Analytics about their workforce. (Understanding the drivers of performance and retention, usin
  8. Thanks Aayush. I will always remember that Mu-Sigma incident.
  9. Nice Nachi!!!! ...very well written, wat are the techniques ideas are their for data collection, at least to the level to make decisions. Thanks for the appreciation Stacy Angom and Karan Kamra. Since both of you have asked a similar question I'd like to answer both of them together. I concur with you on the importance of data collection and it's truly a wonderful question. As I have stated repeatedly in the comments Data in the Knowledge Base is basically from three sources. 1. Legacy System/Core Transaction Processing System - The data from these sources is saved in the
  10. Thanks Himanshu Lohani.. Your question is multi-fold and I would like to answer it byte-by-byte. I agree with you to the extent that yes in times when we don't have sufficient data at hand we have to take wild guesses. But taking such wild guesses repeatedly bequeath logic. We have so much data nowadays. The world today is home to 5 zetta bytes of data. Facebook alone collects upto 15 TB of data each day. Needless to say, we now need to come out of our hollow cocoons of intuitive decision making and face the brave new world of data. Today Data is everywhere. We have enough data to find sol
  11. Thanks Swati for the compliments. I totally agree with you on the fact that Decision making has been based on reasoning and logic since time immemorial. Intuitive decision making has always been a smaller set. And in the age of Big Data, we realize that we have the golden opportunity to tune into this data and utilize it to make better and more sound decisions...
  12. Thanks Chahat, I hope this article was of some help to you and thanks for your motivational words.
  13. Thanks Aditya. Glad the article could help you get an insight into this intriguing world.
  14. Dear Sakshi, thanks for the praise. now moving on to your question. Humans make decisions on the basis of their perceptions of reality and not reality itself. These perceptions are based on their sensory organs, experiences, emotions and motivation amongst other factors. These perceptions also suffer from camouflage, recency effect, contrast effect and grouping along with a host of arbitrary errors. These perceptions differ from the reality in varying degrees and in worst case scenario it can be unrecognizably different from the reality. Thus the question that really comes to all our min
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