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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Ian Ayres' book: "Super Crunchers: Why Thinking-By-Numbers Is the New Way to Be Smart".
This complete summary of the ideas from Ian Ayres' book "Super Crunchers" shows that the number crunchers are starting to consistently outperform the experts. Those who rely on their intuition to make good decisions are now starting to get left behind by a new breed of number crunchers – called “Super Crunchers” – who mine huge databases to reveal underlying relationships. In his book, the author explains the benefits of becoming a super cruncher and having all the answers. This summary demonstrates how you can become one and the benefits this will bring for your company and career.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Super Crunchers" and become a decision-maker with a better way of doing things.
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Seitenzahl: 43
Veröffentlichungsjahr: 2014
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Book Presentation Super Crunchers by Ian Ayres
Book Abstract
About the Author
Important Note About This Ebook
Summary of Super Crunchers (Ian Ayres)
1. What is “super crunching”?
2. How is super crunching currently being used?
3. What is super crunching spreading now?
4. Who wins and who loses in a super cruncher world?
5. What is the future of super crunching?
Book Presentation Super Crunchers by Ian Ayres
Book Abstract
MAIN IDEA
Something is changing. In field after field of commercial activity, the number crunchers are starting to consistently outperform the experts. Those who rely on their intuition to make good decisions are now starting to get left behind by a new breed of number crunchers on steroids – called Super Crunchers – who mine huge databases to reveal underlying relationships which the grizzled veterans never even knew existed. And this sea change is setting off debates and controversies all over the business spectrum.
This modern version of man-versus-machine or perhaps more accurately equation-versus-expertise is no less lively than the historic horse-versus-locomotive competitions of the past. For example:
In medicine, there is a raging controversy over whether “evidence-based medicine” actually works.The wine industry is debating vigorously whether machines can reduce what it takes to make a great wine to a formula.In professional sports, data-based analysis is rapidly replacing the more traditional system of sending out talent scouts.Rental car companies are now refusing to rent to people with poor credit histories because they are more likely to have an accident.When airlines cancel flights, they give the next available seats not to their frequent fliers but to their most profitable customers.Internet sites like Google and Amazon have so much data they probably know your tastes better than you do.It’s now possible to use the Internet to forecast whether the price of an airline ticket will rise or fall if you wait to buy.Overall, something noteworthy is going on. Super crunchers have all the answers even before we know what questions to ask. This is creating what is literally a brave new world for commerce. The role and influence of the experts is diminishing while the scope and impact of the large scale number crunchers climbs steadily. As scary as that may sound at first, rather than creating solely negative consequences this is actually an era of impressive opportunities. While this transition is proceeding, those who have a foot in both camps – who know how to astutely use statistical methods when appropriate and intuition at other times – will find this transition creates some impressive opportunities to get ahead. The real challenge is to get on trend and position yourself advantageously for the future rather than hoping this is just a passing business fad.
“What is Super Crunching? It is statistical analysis that impacts real-world decisions. Super Crunching predictions usually bring together some combination of size, speed and scale. The sizes of the databases are really big – both in the number of observations and in the number of variables. The speed of the analysis is increasing. We often witness the real-time crunching of numbers as the data comes hot off the press. And the scale of the impact is sometimes truly huge. This isn’t a bunch of egghead academics cranking out provocative journal articles. Super Crunching is done by and for decision makers who are looking for a better way to do things.”
– Ian Ayres
About the Author
IAN AYRES is a professor at Yale Law School and a professor at Yale’s School of Management. He is the editor of the Journal of Law, Economics and Organization. Dr. Ayres, a graduate of MIT is an econometrician and a lawyer. He is a columnist for Forbes magazine, a regular commentator on public radio’s Marketplace and the author or coauthor of eight books (including Why Not? and Voting With Dollars) and more than a hundred articles.
The Web site for this book is atwww.supercrunchers.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Super Crunchers (Ian Ayres)
1. What is “super crunching”?
Super crunching is a form of digital decision making. Instead of relying on human intuition or expertise, super crunchers analyze massive databases of information to predict how things are statistically likely to turn out and therefore what decisions have the greatest likelihood of success. In field after field, number crunching is changing the way real world decisions get made.
People have always been influenced by the recommendations of others with similar tastes and preferences. In the old days, this used to mean taking note of what the critics and reviewers said about a movie which was in theater release to make a decision whether to go and see it. Or it may have involved buying a bottle of wine on the strength of what the New York Times
