As analytics have become more sophisticated, users have moved from descriptive to predictive, and more recently, to prescriptive analytic techniques. Each provides a different view of data and can help deliver a different analytically driven use case. The human factor prevalent in all three types is now being replaced by automation giving way to a new type of analytic that Tom Davenport describes as "Automated Analytics". These more sophisticated styles of analytic provide companies with the means to act faster and interact with customers in a more personalized fashion. These innovations open the door to concerns for privacy and highlight the line between innovation and privacy concerns. The question at hand is; can prescriptive and automated analytics create more harm than good under certain circumstances?
In this week’s #ThinkChat segment, Tom Davenport, John Thompson, and I discuss the need for communication, context, and transparency when leveraging advanced analytics and the importance of serving customers not surprising them.