The Value of Accuracy in Predictive Analytics

This article was first posted in 2014 but the message bears repeating. There is a lot being written about tools simple enough for the citizen data scientist to operate. The unstated constraint is that if you don't have significant experience in data science then these will always be "good enough" models. The problem is that'good enough' models under achieve both revenue and profit. Very small increases in model fitness can translate into much larger increases in campaign ROI.