{"id":1718,"date":"2018-03-23T07:51:34","date_gmt":"2018-03-23T12:51:34","guid":{"rendered":"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/?p=1718"},"modified":"2018-06-14T14:32:56","modified_gmt":"2018-06-14T19:32:56","slug":"will-big-data-help-us-predict-the-future","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2018\/03\/23\/will-big-data-help-us-predict-the-future\/","title":{"rendered":"Will Big Data Help Us Predict the Future?"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/wp-content\/uploads\/2018\/03\/Roadmap-250p.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1767\" src=\"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/wp-content\/uploads\/2018\/03\/Roadmap-250p.jpg\" alt=\"\" width=\"250\" height=\"84\" \/><\/a><\/p>\n<p><strong>How confident can we be in experts\u2019 predictions and would they be able to make better predictions if they had more data?<\/strong><\/p>\n<p><em>By Patrick Davison<\/em><em>\u2014<\/em><\/p>\n<p>It\u2019s spring and the start of the 2018 Major League Baseball season. With the start of the new season comes the pundits\u2019 predictions of who will win the World Series in October. Even though the season hasn\u2019t begun yet, the so-called experts are predicting the Dodgers as five-to-one favorites to win it all in 2018, followed by the Indians and Astros at six-to-one. But how confident can we be in their predictions? How confident are the experts in their predictions? And what information did they use to make their predictions, and would they be able to make better predictions with more data?<\/p>\n<p>More importantly, what does this have to do with <em>Material Handling &amp; Logistics U.S. Roadmap 2.0<\/em>?<\/p>\n<p>According to the <em>Roadmap<\/em>, \u201cBig Data,\u201d is predicted to shape everything from final-mile routing to long-term infrastructure planning to freight forwarding to ultimate decision-making to network optimization, all of which is anticipated to improve forecasting. GE\u2019s Jeff Immelt was reported to postulate, \u201cthe marriage of Big Data analysis and Industrial engineering promised a nearly unimaginable range of improvements.\u201d<\/p>\n<p>The promise of Big Data will almost certainly help transform our industry and help bring about new technologies, such as autonomous vehicles. But how much of those \u201cimprovements\u201d will actually help to predict future activities? Will more data computation capabilities help us make better forecasts, or simply provide us with more confidence in the forecasts we would have otherwise made with existing data?<\/p>\n<p><a href=\"http:\/\/www.nxtbook.com\/naylor\/MHIQ\/MHIQ0218\/index.php#\/154\"><strong>Read More\u2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How confident can we be in experts\u2019 predictions and would they be able to make better predictions if they had more data? By Patrick Davison\u2014 It\u2019s spring and the start of the 2018 Major League Baseball season. With the start of the new season comes the pundits\u2019 predictions of who will win the World Series &#8230;<\/p>\n","protected":false},"author":46,"featured_media":1719,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-1718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-standards"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will Big Data Help Us Predict the Future? - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2018\/03\/23\/will-big-data-help-us-predict-the-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Big Data Help Us Predict the Future? - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"How confident can we be in experts\u2019 predictions and would they be able to make better predictions if they had more data? By Patrick Davison\u2014 It\u2019s spring and the start of the 2018 Major League Baseball season. With the start of the new season comes the pundits\u2019 predictions of who will win the World Series ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2018\/03\/23\/will-big-data-help-us-predict-the-future\/\" \/>\n<meta property=\"og:site_name\" content=\"MHI Solutions\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-23T12:51:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-14T19:32:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mhisolutionsmag.com\/wp-content\/uploads\/2018\/03\/Big-Data.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"587\" \/>\n\t<meta property=\"og:image:height\" content=\"367\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Melinda Runkle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Melinda Runkle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mhisolutionsmag.com\/index.php\/2018\/03\/23\/will-big-data-help-us-predict-the-future\/\",\"url\":\"https:\/\/www.mhisolutionsmag.com\/index.php\/2018\/03\/23\/will-big-data-help-us-predict-the-future\/\",\"name\":\"Will Big Data Help Us Predict the Future? 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