EvD Theorem #2: Predictions, Not Data, Drive Value
It is the quantification of trends, patterns, and relationships that drive predictions about what is likely to happen.
It is the quantification of trends, patterns, and relationships around customers, products, services, operations, and markets that drive operational, management, and strategic predictions. And it is the value of these predictions (in support of the top-priority business and operational use cases) that ultimately determines the economic value of your data. And the best way to codify and ultimately monetize those trends, patterns, and relationships is through the use of Analytic Profiles.
As I discussed in Chapter 3, A Review of Basic Economic Concepts, Analytic Profiles or Digital Twins, provide a mechanism for capturing the metrics, predictive indicators, segments, scores, and business rules that codify the behaviors, preferences, propensities, inclinations, tendencies, interests, associations, and affiliations...
