Season Your Data with Theory and Common Sense in Nate Silver's Book, Signal and The Noise

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I attended my second APICS Central Indiana Professional Development Meeting at Carmel on the 13th of March 2014. The keynote speaker was Bill Whiteside, who is a founder of Demand Solution Northeast, which markets and supports the Demand Solution suite of forecasting and supply chain management software in the Northeast US. He is a graduate of the University of Notre Dame and a professional member of APICS. At that dinner event, he presented twelve supply chain forecasting lesson from “The Signal and The Noise.”
The Signal and The Noise book is about the overwhelming proliferation of data and how so much of that data can produce more noise (garbage) than the signal (truth). The book told us how to find the truth amidst all the noise and
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I attended my second APICS Central Indiana Professional Development Meeting at Carmel on the 13th of March 2014. The keynote speaker was Bill Whiteside, who is a founder of Demand Solution Northeast, which markets and supports the Demand Solution suite of forecasting and supply chain management software in the Northeast US. He is a graduate of the University of Notre Dame and a professional member of APICS. At that dinner event, he presented twelve supply chain forecasting lesson from “The Signal and The Noise.”
The Signal and The Noise book is about the overwhelming proliferation of data and how so much of that data can produce more noise (garbage) than the signal (truth). The book told us how to find the truth amidst all the noise and the value of seasoning your data with theory and common sense. The author of the book, Nate Silver, provides a number of practical lessons that are extendable and very applicable to supply chain forecasting.
Lesson number one is “more information does not mean better information”. Too much data can cause analysis paralysis. We need to use our tools wisely and trust our instincts. A lot of data are available for us to analyze, but not all of them is worth to be considered during our forecasting process. We need to focus more on our planning process, the data that we get, the products, the customers and the channels that matter the most so we can get a meaningful patterns.
Lesson number two is “there is one thing that humans do better than

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