Gone are the days where computers filled rooms, and astronauts were shot into space with handwritten calculations, slide rules and protractors. Our ability to collect big data, process and analyse it would have shocked our grandparents as would the predictive capability of AI to make faster and at times better decisions than humans.
However, the forces that drive data analytics which help us build our businesses, fly our aircraft devise new medicines and run programmes of work, often ignore the data that is simply not there – that which did not survive or has not been included.
This paper will look at the principle of ‘survivorship bias’, an innovative form of statistical analysis, which shows how we can apply unknown or invisible data to address business problems, and in turn run more successful projects and programmes. Later papers will look in greater depth at how application of these principlas may drive better programme delivery.