EP020: Data + Knowledge Base = A “Model” Business System with George Danner

Joining together the formidable pattern recognition abilities of the human mind with the agility of data-driven simulation modeling is a company's best option for overcoming challenges. Business Laboratory captures information from experts in your organization to gain insights and systematically inserts the scientific method to create a living model of your business.

Key Takeaways:

[1:48] Building simulation models for companies with lots of moving parts

[4:28] Modeling is mimicking real life in a simulated world

[6:38] Pattern recognition in the human mind is visual

[9:24] Information from experts is key

[10:37] Augmenting humans with computer models

[11:45] A hackathon example from Praxent

[16:28] Data is the fuel for scientific investigation

[17:32] Legacy industries can benefit from analytics - Moneyball example

[20:21] Which came first the data or the hypothesis

[25:38] Applying the scientific method to business

[31:04] Debates driven by data are essential to today’s businesses

[32:45] Programmers are excellent problem solvers

[34:53] Hiring techniques for problem solvers are outdated

[37:30] Revealing thought processes

[38:11] The analytical sandbox is a place for talented people to play

[41:13] Contact information for George

Mentions:

Business Laboratory

Profit from Science

Praxent

Moneyball

Great by Choice

The Progress Principle