“Thinking with Data” by Max Shron [PDF]

Summary
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Thinking with Data by Max Shron Book

To demonstrate the Cost, we need some sense of the reliability of the model compared to the cost range of running the ads. How does our predicted lifetime value compare to the genuine lifetime value, and how often will we overshoot or undershoot?

Finally, is the volume of money saved still positive when we include the time cost of developing the model, implementing it, and running it? If the model is any good, the answer is almost certainly yes, especially if we can get a high-quality answer in the first few days. The more automated this process is, the more time it will take upfront but the more time it will save in the long run. With even reasonable investment, it should save far more than is spent.