With tens of billions of computers and sensors everywhere in everything, predictive analytics is already upon us, creating both excitement and anxiety. Some experts are already referring to this new era as “the age of telemetry.” Why? Because streams of data provided by sensors embedded in our phones and cars are converging with those from supermarket checkouts, the World Wide Web, electronic medical records, and myriad security systems to monitor minute details on a real-time basis. For the first time, we have the computing horsepower that can make sense of this data by harnessing Bayesian analysis and neural networks to complement conventional algorithms. In short, we cannot only determine what’s happening right now with unprecedented precision; we can also anticipate what will happen next with an accuracy that was never before possible. What are the implications? Who are the winners and losers? How should we respond? We’ll provide the answers.
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