BivData - Behavioral Data Analysis
Management Consulting - , ,
BivData - Behavioral Data Analysis Employees
BivData - Behavioral Data Analysis Details
Big data analysis consists of searching for buried patterns that have some kind of predictive power. But choosing which "features" of the data to analyze usually requires some human intuition. Behavioral Economics offers a scientific approach that replaces human intuition and extracts information from any data set. In a database containing, for example, the beginning and end dates of various sales promotions and weekly profits, the crucial data may not be the dates themselves but the duration between them, or not the total profits but the averages across those spreads. There are numerous ways to measure each variable, and the possibilities to combine some or all of the variables in a big data set seems endless.Microeconomic principles, together with tools from behavioral economics and game theory help expose the data analysis approach that is most suitable. The key is understanding the incentives of the participants in the situation. That facilitates the application of statistical tools and machine learning techniques that efficiently solve the data problem. We combine behavioral decision models with advanced machine learning algorithms and game theory. We not only excel at creating predictive models, but we take the extra step of converting the statistical prediction into insight on human behavior. This is what we believe need to be done in order to enable better business decisions.
BivData - Behavioral Data Analysis Technologies
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