Robust analytics has become crucial in the corporate environment, and randomness plays an enormous role in business and the competitive marketplace. Failing to account for randomness can steer a model in an entirely wrong direction, negatively affecting the final outcome and potentially devastating the bottom line. Heuristics in Analytics describes how the heuristic characteristics of analysis can be overcome with problem design, math and statistics, helping readers to:

• Realize just how random the world is, and how unplanned events can affect analysis
• Integrate heuristic and analytical approaches to modeling and problem solving
• Discover how graph analysis is applied in real-world scenarios around the globe
• Apply analytical knowledge to customer behavior, insolvency prevention, fraud detection, and more
• Understand how text analytics can be applied to increase the business knowledge

Every single factor, no matter how large or how small, must be taken into account when modeling a scenario or event—even the unknowns. The presence or absence of even a single detail can dramatically alter eventual outcomes. From raw data to final report, Heuristics in Analytics contains the information analysts need to improve accuracy, and ultimately, predictive, and descriptive power.