The technology buzzword standard for prediction appears to be Netflix and Amazon. Everyone wants to get to where they make recommendations customers will buy. But are these predictions any good?
Out of the slew of emails you get from Amazon, how percentage do you actually buy? How many do you sneer at it and hit delete in disgust that they could get it that wrong? For me, the latter is more common than the former. Certainly it is not from a lack of data, I buy more off that site than I do all bricks and mortar stores excepting groceries combined. (And that makes me re-think how I buy groceries.) Maybe Amazon has too much data that confuses it mixed with correct data. I look things I have no interest in buying such as someone mentioned having problems with a product. Though I have to question Amazon recommending I buy the camera I bought from them a couple months prior.
Netflix really is not any better. Their top 10 recommendations change weekly for me. In my current top 10, one was already rated 5 stars. Another four were already in my queue. The remaining five predicted I would like them between about 3.0 and 3.3 stars. That is out of five. There are 27 items in my queue with higher predictions than these.
Before I start tracking these predictions to gauge how effectiveness, do I even really care? Am I going to stop consuming from companies that overstate their claims? Or should I close my ears when clueless people spout the prediction buzzword? Not really. No. Guess that is what I am left doing.
I think the standard comes not from them being any good. Instead decision makers are aware of them, so they understand wanting to emulate them.