COMPS CAN BEAT HUMAN MANAGERS

19 Jul 2006

Rahul

'COMPS CAN BEAT HUMAN MANAGERS'

         . Chris Snijders of Eindhoven University of Technology.

. "As long as you have some history and some quantifiable data from past experiences", Snijders claims, a simple formula will soon outperform a professional's decision - making skills.

. Computer models given the tasks achieved better results in categories like timeliness of delivery, adherence to the budget and accuracy of specification.

. Model was much faster and more accurate than the old system.

. Mathematical models generally make more accurate predictions that humans do. Studies have shown model can better predict the success or failure of a business start - up, and further performance in graduate school.

       . Licking the winning dogs at the racetrack

. The main reason for computers' edge is their consistency Computer model to evaluate stocks.

. Many putative managerial qualities like experience and instution, may in fact be largely issue story, as they develop bad habits that go uncorrected from lack of feedback.

. Meeting in person and poring over dossiers’, are of quality dubious value when it comes to making more   accurate choices, with face - to - face interviews actually degrading the quality of an eventual decision.

. This (Observation) goes against what we are trying to promote, viz : more use of "Face - to - face"     interviewing, using our IIT "(So, obviously, we will NOT quote this report!)

. But, over a period of time, we must develop many statistical "co - relations" between hundreds of          "variables" that we will capture in millions of Job - advts & resumes, in order to be able to "PREDICT", What   career - path / growth path, a given candidate is most likely to achieve, if today, he is

               1) B.E. (Mech)

               2) South Indian

               3) From IIT - Marks

               4) Bachelor

Hemen Parekh