Bivdata - Behavioral Data Analysis

big data analysis consists of searching for buried patterns that have some kind of predictive power. but choosing which “features” of the data to analyze usually requires some human intuition. behavioral economics offers a scientific approach that replaces human intuition and extracts information from any data set. in a database containing, for example, the beginning and end dates of various sales promotions and weekly profits, the crucial data may not be the dates themselves but the duration between them, or not the total profits but the averages across those spreads. there are numerous ways to measure each variable, and the possibilities to combine some or all of the variables in a big data set seems endless. microeconomic principles, together with tools from behavioral economics and game theory help expose the data analysis approach that is most suitable. the key is understanding the incentives of the participants in the situation. that facilitates the application of statistical too