HT: Revolution Analytics
Very good discussion about real applied econometrics and analytics including the use of ARIMA models, decision trees, and genetic algorithms. He also has a very smart approach in his attitude toward big data and data science. I also appreciated his views on the pitfalls of 'black box' analytics software and outsourcing analytics. I do think there is a role for analytical consulting, but it requires careful management with a close client-partner relationship with NDA, contract, etc. to be effective.