Trust an algorithm with your business?

Douglas Heingartner in the International Herald Tribune:

Do you think your high-paid managers really know best? A Dutch sociology professor has doubts.

The professor, Chris Snijders of the Eindhoven University of Technology, has been studying the routine decisions that managers make and is convinced that computer models, by and large, can do it better. He even issued a challenge late last year to any company willing to pit its humans against his algorithms.

“As long as you have some history and some quantifiable data from past experiences,” Snijders said, a simple formula will soon outperform a professional’s decision-making skills.

“It’s not just pie in the sky,” Snijders said. “I have the data to support this.”

More here.

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