From Newsgroup: comp.lang.cobol

On Tuesday, May 22, 2018 at 1:08:09 AM UTC-7, pete dashwood wrote:

On 22/05/2018 1:42 AM, Kellie Fitton wrote:

Hi Folks.

I cobbled together a program to perform data mining on a large
collection of sizable ISAM files. The algorithms will mine the
warehoused data for relevant statistics, and generate predictive
analytics to guide management decisions and measure performance.

However, extracting real meaning from data can be challenging,
fiendishly complex to understand, and wildly counter intuitive.
Major factors to consider are: bad data, flawed processes and misinterpretation of results can produce false positives and
negatives, which can lead to inaccurate conclusions and
injudicious business decisions. I would like to know your
professional opinions with the following questions:

1). in social sciences, is it practical or useful to develop
a predictive model?

Yes. BUT, there are some provisos...:

(These provisos apply to changing the alpha factor on an ancient
Inventory Control system to reflect seasonal demand fluctuations, constructing a deep neural network for a specific AI application and
loading 10s of millions of data points into it, or to a simple self-modifying heuristic programming example; in other words, ANY kind
of software where the "results" are predicated on previous results and modified within desirable constraints:)

1. The predictions (no matter what the algorithm claims) should be considered to be accurate to within 50%. In other words, the model can
be used to give a "general likelihood" of what is going to happen.

2. No financial risk of any kind must be taken, based on the prediction.

3. The rules above don't get changed if the model is within 10% (Unless
it is run across at least 1000 datasets and ALWAYS predicts within 10%
of the actual outcome.) In other words, the "credibility" of the model
may improve but that doesn't alter the rules for using it.

2). Are there any ironclad guarantees around predictive models?

No.

But that doesn't mean they are worthless.

Some classes of problem can ONLY be solved by a computer using
heuristics or AI, because it would take longer than the time available,
to solve them using traditional methods.

If a heuristic model finds its way through a complex maze, the solution
may not be the BEST one, but it is better than NO solution.

If an AI net predicts cases of cholera within 5 miles of your location,
you might well laugh it off but you'd probably renew your vaccination,
just in case...

This whole field is expanding rapidly and it is likely that much more reliable predictions will be available within the next few years. It
might then become possible to relax rules 1 and 2, but for now you
should treat the output from a predictive model with extreme skepticism, even when it gets it pretty much right...

It's like the "Pirate Rules" in Pirates of the Caribbean; more of a "guideline", really.

Pete.
--
I used to write COBOL; now I can do anything...

Hi Pete,

Thanks for the insightful pointers, will definitely keep them in mind...

Regards.
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

In article <[email protected]>,
Kellie Fitton <[email protected]> wrote:

Hi Folks.

I cobbled together a program to perform data mining on a large
collection of sizable ISAM files. The algorithms will mine the
warehoused data for relevant statistics, and generate predictive
analytics to guide management decisions and measure performance.

Wow. If I had a nickel for every time I was expected to sit through this
kind of buncombe I'd have to ballance my ballast. Who's feeding you this tripe?

However, extracting real meaning from data can be challenging,
fiendishly complex to understand, and wildly counter intuitive.
Major factors to consider are: bad data, flawed processes and >misinterpretation of results can produce false positives and
negatives, which can lead to inaccurate conclusions and
injudicious business decisions. I would like to know your
professional opinions with the following questions:

1). in social sciences, is it practical or useful to develop
a predictive model?

Archaeology is a social science. Linguistics is a social science.
Psychology is a social science.

2). Are there any ironclad guarantees around predictive models?

The ironclad guarantee is 'there are no ironclad guarantees', in cluding
this one.

Thank you for your feedback.

Honest question: is there a client who's trolling for tripe or are you
taking a course?

DD
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

In article <[email protected]>,
Kellie Fitton <[email protected]> wrote:

Hi Doc Trins O'Grace,

I appreciate your informative feedback. I interviewed some
of my friends who are working as engineers and their answers
rather surprised me. They said to increase the percentage of
accuracy and clairvoyant logic of their predictive analytics,
they must leverage the power of a new wrinkle in their field,
and it is the reliance on Machine Learning and AI, Artificial
Intelligence.

Mechanical engineers? Software engineers? People who drive railroad locomitives?

I find it shocking that the most sophisticated
predictive software can become fully non-predictive in just
two weeks period, due to the complexity, uncertainty and
unpredictability of our connected world. case in point, the
collapse of financial services firm Lehman Brothers, and the
great recession of 2007 that was not predicted by economist
who are trained to forecast and uses predictive analysis.

I was working on Wall Street on 19 October 1989 and this doesn't surprise
me in the least. Lord John Maynard Keynes remarked that 'Markets can
remain irrational a lot longer than you or I can remain solvent.'

DD
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

Ma'am, these other responses seem very helpful!
I was going to add -- and maybe it is obvious -- the trouble is knowing your inputs. In process control one might think that identifying everything you need to measure at any point would be possible. But the largest factories I worked in had continuous processing machinery that were in a single building covering over 40 acres -- this was as steel processing plant. That's a lot of stuff going on. We know that if you can only control what you can measure. Either control or measurement are impossible if they aren't available.
With the neural nets, we could learn which measurements were most significant or least significant, by: excluding a measurement, retraining the network, and seeing how the its performance changed. (Historic data is wonderful for those purposes.)
In a polyester manufacturing facility we found out that the ambient temperature of one of larger machines was more important than the temperature of the polyester itself. That surprised everyone.
Of course, a huge problem is our presuppositions regarding our measurements. In the case of some of the economics predictors that were mentioned, what if the frequency of a street light in Hyderabad turns out to be a significant measurement we never thought to include. (That might be a silly example.)
Chaos theory was really only articulated in the 70's. It has been incredibly helpful. I think we are pretty good at simplified systems. We aren't so good at reality. Maybe that means that any predictive models will have endogenous issues that we may never understand.
Personally, that discourages me. Nonetheless, I have an enormous amount of respect for people like you. Your unrelenting efforts to tackle these kinds of problems cannot but yield beneficial results.
I'll be quiet now. These other guys are a lot smarter and more perspicuous than I've ever hoped to be!
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

Hi Doc Trins O'Grace,

You are absolutely right -- the trouble is knowing your inputs.
I must ask my self are the data good and make sure the data used
as well as the processes that generate and organize it are of
the highest quality and fully understand them. I don't want to
spend long time and resources only to find a bug in the data.
One can still get problems even with the best data. Garbage in,
garbage out. Predictive analytics are risky by nature, they are
valid as long as the input data are also valid.

Thank you for your valuable insights.

Regards.
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

On 23/05/2018 8:07 AM, Kellie Fitton wrote:

Hi Doc Trins O'Grace,

You are absolutely right -- the trouble is knowing your inputs.
I must ask my self are the data good and make sure the data used
as well as the processes that generate and organize it are of
the highest quality and fully understand them. I don't want to
spend long time and resources only to find a bug in the data.

You actually can't find a bug in the data; data just is, and it is what
it is. You an find data that falls outside expected parameters, but it's
still just data. (Marshall McLuhan had a lot to say about this when he
was formulating Information Theory; he even suggested that the "value"
of the data was proportional to its "unexpectedness"...)

You find bugs in the algorithms used to process the data.

One can still get problems even with the best data. Garbage in,
garbage out. Predictive analytics are risky by nature, they are
valid as long as the input data are also valid.

Sadly, no, they are not.

You can have "perfect data" all validated to be within the expected constraints and the predictions derived from it can still be "wrong".

Certainly, there is more probability of the results being "righter" if
the data is "good", but that probability is asymptotic and will never be "Certainty".

Hence the rules I gave you previously... :-)

Pete.
--
I used to write COBOL; now I can do anything...
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

In article <[email protected]>,
pete dashwood <[email protected]> wrote:

On 23/05/2018 8:07 AM, Kellie Fitton wrote:

[snip]

One can still get problems even with the best data. Garbage in,
garbage out. Predictive analytics are risky by nature, they are
valid as long as the input data are also valid.

Sadly, no, they are not.

Mr Dashwood, it seems that folks no longer study the Hawthorne effect.

DD
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

On 25/05/2018 6:12 AM, [email protected] wrote:

In article <[email protected]>,
pete dashwood <[email protected]> wrote:

On 23/05/2018 8:07 AM, Kellie Fitton wrote:

[snip]

One can still get problems even with the best data. Garbage in,
garbage out. Predictive analytics are risky by nature, they are
valid as long as the input data are also valid.

Sadly, no, they are not.

Mr Dashwood, it seems that folks no longer study the Hawthorne effect.

DD

Sorry Doc, not sure of your allusion here. My position has been
consistent throughout the thread (whether it was observed or not... :-)):

"Don't trust the results of analytics."

(This could change in a few years but, for now at least, that's my
position on it.)

Pete.
--
I used to write COBOL; now I can do anything...
--- Synchronet 3.20a-Linux NewsLink 1.114

From Newsgroup: comp.lang.cobol

In article <[email protected]>,
pete dashwood <[email protected]> wrote:

On 25/05/2018 6:12 AM, [email protected] wrote:

In article <[email protected]>,
pete dashwood <[email protected]> wrote:

On 23/05/2018 8:07 AM, Kellie Fitton wrote:

[snip]

One can still get problems even with the best data. Garbage in,
garbage out. Predictive analytics are risky by nature, they are
valid as long as the input data are also valid.

Sadly, no, they are not.

Mr Dashwood, it seems that folks no longer study the Hawthorne effect.

Sorry Doc, not sure of your allusion here. My position has been
consistent throughout the thread (whether it was observed or not... :-)):

"Don't trust the results of analytics."

Is that an assertion based on experience? Seriously... the Hawthorne
effect is that the results you get might not be the results you seek;
having studied this might prevent someone from posting that 'predictive analytics are valid as long as the input data are valid'.

DD
--- Synchronet 3.20a-Linux NewsLink 1.114