It's incredible. The last company I worked for before going it alone (I was the front-end engineer and moved away from ML based business models) was trying to automate statistical analysis. I came from an academic background in economics and I tried to propose modelling to them in simple terms and they jumped to, "it sounds like you're talking about forecasting, let's go with that." And they started trying to implement python models from academic papers with highly limited training data and my reaction was generally, WTF?! You can't even start to forecast without a reliable base model. But they went ahead trying to sell stuff like churn prediction to companies with 0 understanding of how these models work at the basest levels.
And yeah, Google started to throw their hat in the game with Analytics 360 and an enormously larger training base. Amazon's another major player.
Weirdly enough though, people do still blindly pay my previous employers to figure stuff out because easy answers are always actionable, even if they're wrong. It's just crazy because the CEO explained to me that lying about the service to potential customers and investors was necessary because "Faking it til you make it" was a sound business principle in his mind like 1980's Michael J Fox was his primary sources of business info.
Long story short, don't waste your time with these little companies purporting ML holy grails. They're probably just lying to you, whether intentionally or not. ML is a game for the big boys with access to market level aggregates. The models that last company came up with were wildly inaccurate.
And yeah, Google started to throw their hat in the game with Analytics 360 and an enormously larger training base. Amazon's another major player.
Weirdly enough though, people do still blindly pay my previous employers to figure stuff out because easy answers are always actionable, even if they're wrong. It's just crazy because the CEO explained to me that lying about the service to potential customers and investors was necessary because "Faking it til you make it" was a sound business principle in his mind like 1980's Michael J Fox was his primary sources of business info.
Long story short, don't waste your time with these little companies purporting ML holy grails. They're probably just lying to you, whether intentionally or not. ML is a game for the big boys with access to market level aggregates. The models that last company came up with were wildly inaccurate.