Here at Brightleaf, we’re big believers in self-preservation. We live by helping companies mine their legal documents so they can analyze, understand, and better manage their customers, vendors and partners. In other words, we thrive by assisting our clients with their data-driven decisions. So imagine our angst when we came across an article entitled “Data-Driven Decisions Exposed as a Fallacy” by a company called Bayesialab. Is everything we stand for a lie? Are we building a company based on ignorance? Is it time for me to polish up the resume?
Finally, when I gathered the courage to actually read the article, I found it quite insightful. It introduces the idea of causality as part of the process. They say it best this way: “We want to know what would happen if we were to intervene in our domain (as opposed to just observing the domain).” And the data that helped you make the decision doesn’t tell you the consequences of the resulting action. AHA!
It’s a great read: http://www.bayesia.us/blog/data-driven-decisions