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Super Crunchers Chapter Summary

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In this era of big data, number crunching is capable of influencing your action and redirecting your life in unimaginable ways. In this book “Super Crunchers”, economist Ian Ayres illustrates through different examples how the multi-billion dollar companies of today, collect and analyse massive raw data at lightning speed to dig into the subtle aspects of human behaviour and deliver staggering results on how it could impact their business. Efficient use of the statistical tool-regression will helps in deriving crucial relationship between variables that could offer significant pointers towards successful business decisions. Number crunching has emerged as the single most effective solution to pull up a declining businesses while on the other hand, the author advices customers to be vigilant in their business transactions that offer additional features at the same price. He also explains, how customer feedback extracted from market data and random surveys drives towards profitable decisions in the future for different sections of the society. …show more content…

This indicates the significance of randomization approach even at the government level that could help in moulding citizen-friendly economic strategies. The applicability of number crunching in sensitive fields like medicine is also discussed in this book. It recommends doctors to have less wariness like the pilots and that the treatment should be based on statistical evidence which in turn depends on data or doctor’s dispositions. Though this process is time-consuming and challenging in terms of evidence collection, it would make the job of doctors simpler while at the same time assure better safety for the

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