From the course: Machine Learning and AI Foundations: Prediction, Causation, and Statistical Inference
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Why causation matters in a business setting
From the course: Machine Learning and AI Foundations: Prediction, Causation, and Statistical Inference
Why causation matters in a business setting
- [Instructor] Why is causality important in a practical situation at work? Our minds immediately think in causal terms, so we will sometimes make the leap to causality, even when the evidence doesn't justify it. If we get some analytical results and present them to our colleagues or our boss, they may assume that we are making a claim that we have established causality. For instance, in a meeting, we might say, "I built a regression model predicting sales "with marketing spend, and it was significant," or "I built a decision tree model, "and the top predictor of sales is marketing spend," or "I ran an A/B test, "one campaign where we had paid social media "and another without, "and the one with paid had significantly higher sales." Do all of these establish causality, maybe only some of them? Your boss or colleagues might not ask explicitly for causal inference, but it's going to be on their mind. You will want to…
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