Earlier quoted context omitted.
I felt a similar kind of skepticism when I saw it took ~3 years to improve the Netflix recommendation system with just ~10% - in the context of the Netflix Prize, with great minds (data scientists and practitioners) participating and collaborating. Maybe the initial system was quite good and it had no space for easy-and-fast enhancements, I don't know. But 10% overall improvement result in 3 years (just as quantitati…
But what if 10% improvement means 10 M$/year ? Anyway I think there are many applications where getting the absolute best performance isn't as important as finding the problem, figuring out how to apply a machine learning model to it (which includes getting the necessary training data) then training an off the shelf mode. The later of these may take a day or less, the other phases may well require both more thought a…
But that means you already have a really significant business that makes ~300 M$ per year. And you manage to increase it just by peanuts (relatively speaking).
And there is inflation in economy, and the alternative costs of not investing such a huge sum or part of in Apple stocks (for example) during those years.
My point explained better:
The startup success of getting from zero to millions just because of clever ML/data-science/statistics is something to be respected and admired. But for already big-business all this big-data buzz might provide just minor enhancement opportunities at best.