Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    warehouse accidents
    Data Analytics and the Future of Warehouse Safety
    10 Min Read
    stock investing and data analytics
    How Data Analytics Supports Smarter Stock Trading Strategies
    4 Min Read
    predictive analytics risk management
    How Predictive Analytics Is Redefining Risk Management Across Industries
    7 Min Read
    data analytics and gold trading
    Data Analytics and the New Era of Gold Trading
    9 Min Read
    composable analytics
    How Composable Analytics Unlocks Modular Agility for Data Teams
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Experts, Fortune-tellers and Bookmakers: Zero Points!
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Predictive Analytics > Experts, Fortune-tellers and Bookmakers: Zero Points!
AnalyticsPredictive Analytics

Experts, Fortune-tellers and Bookmakers: Zero Points!

TeradataEMEA
TeradataEMEA
5 Min Read
SHARE

If you ever doubted the quality of “expert opinions” and the predictive value of the odds of bookmakers, this year’s Eurovision Song Contest gave you every reason to stick to this scepticism. Around 120 million viewers in 43 countries watched the Eurovision Song Contest on Saturday May 14, 2011. For most viewers, and certainly for those who had been calling in or sending text messages to support their favourite candidates, it must have been a heart-stopping show. And the winner was: Azerbaijan. Yes, exactly the country that not one expert had included on his list of favourites.

If you ever doubted the quality of “expert opinions” and the predictive value of the odds of bookmakers, this year’s Eurovision Song Contest gave you every reason to stick to this scepticism. Around 120 million viewers in 43 countries watched the Eurovision Song Contest on Saturday May 14, 2011. For most viewers, and certainly for those who had been calling in or sending text messages to support their favourite candidates, it must have been a heart-stopping show. And the winner was: Azerbaijan. Yes, exactly the country that not one expert had included on his list of favourites.

Looking back, song contests, just like future events in general, have an impressive history of wrong forecasts, mostly from people who consider themselves experts on the basis of some nebulous claim to credibility. For example, in the realms of pop music, there are plenty of has-beens who played the washboard in a Skiffle band forty-something years ago and then switched to journalism to pay their loans and bills, which is an absolutely honourable reason, but… It was probably just this sort of expert who spread the word about the most likely winners of this year’s Eurovision Song Contest. The Irish super-quaffed twins were hot, as was the Finnish troubadour; maybe even Lovely Lena stood a chance again – and, of course, there were also the Swedish and Danish mainstream pop-rockers – but no one seemed to have Azerbaijan on their radar, or even Italy as a possible runner-up. Teradata’s CTO Stephen Brobst assessment of marketing in the social media age is also true in this case: If you are relying on gut feeling instead of analytics, you’re bound to be lost!

More Read

oracle exalytics
Exalytics, Exalogic and Exadata
Big Data Paves The Way For Fantastic New Social Listening Tools
Depression Economics: America’s Economic Crisis
Google+ and the Numerati
Location Intelligence: Driving Competitive Advantage in the Retail Industry

As data journalism gains momentum, I dare to predict that this year’s Eurovision Song Contest will be remembered as a landmark shift from the kind of gut feeling expertise described above to a much more sober approach to predicting results.

Because data analysts – even if they were totally tone deaf – had good reason to consider the modest Caucasian country as a potential favourite. In the week before the contest, the German weekly newspaper “Die Zeit” published the results of an analysis of voting behaviour based on the last 10 years of Eurovision Song Contest finals. Marcus Weber, a mathematician from the Zuse Institut in Berlin, had analysed every country’s votes. The software he had used identified six clusters of countries, which were very similar with regard to their favourite music. As the original illustration is not available online, you will find a visual representation of the results on a map (which was created by using a free tool from our partner Tableau Software.)

Tableau-Sftwr-1

Further evidence that the actual result didn’t come as a total surprise had been provided by the Guardian data blog. Based on Eurovision voting data, the blog predicted as early as Friday that “Serbia, Azerbaijan, Greece or the Ukraine seem most likely to win”.

An analysis of Eurovision data adds some interesting insights. Although Azerbaijan has enjoyed considerable support from the countries of its cluster, excepting Armenia, it also received high points scores from countries like Malta, San Marino, Croatia, Iceland and Austria. But just see for yourself which country awarded how many points to Azerbaijan.

 

Tableau-Sftwr-2

This means that the “expert” role will no longer be an easy source of income for failed musicians. Sorry guys: data analysts or data journalists will take your place!

 

Teradata EMEA

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

macro intelligence and ai
How Permutable AI is Advancing Macro Intelligence for Complex Global Markets
Artificial Intelligence Exclusive
warehouse accidents
Data Analytics and the Future of Warehouse Safety
Analytics Commentary Exclusive
stock investing and data analytics
How Data Analytics Supports Smarter Stock Trading Strategies
Analytics Exclusive
qr codes for data-driven marketing
Role of QR Codes in Data-Driven Marketing
Big Data Exclusive

Stay Connected

1.2KFollowersLike
33.7KFollowersFollow
222FollowersPin

You Might also Like

Two Step Cluster – Customer Segmentation in Telecom

7 Min Read
Data Integration Architecture
AnalyticsBig DataData ManagementExclusiveIT

Data Integration Ecosystem for Big Data and Analytics

8 Min Read

The New Quantitative Era: Creating Successful Business Change with Analytics

6 Min Read
Image
AnalyticsBusiness RulesPredictive AnalyticsSoftware

Will Predictive Analytics and POS Save Small Retailers from Extinction?

4 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?