I teach a data analytics course and I asked some students to write blogs on data and current events. This blog is by Jake Fischer.
Every four years, the United States seems to turn upside down with the Presidential election. Now, the nation has turned its eyes to predictive analytics to understand the future of our country. As of October 22, the time of the writing of this post, Joe Biden stands an 87% chance of winning the critical swing state of Florida. This seems like a significant margin, but how did we come to this understanding using data? How reliable is this fivethirtyeight forecast?
For starters, the 87% chance of winning is based on a simulation run by data analysts in 40,000 different scenarios, all of which are measuring different factors from voter turnout to demographics to the economic forecast of the day. This prediction also factors in the polling averages for each candidate from 8 different polls, each of which is given a grade of reliability and weighted accordingly. Hundreds of factors come into play when predicting an election, yet confidence in many of these numbers is at an all-time low. So, in answer to question two, the outlook is anything but certain.
This doubtful outlook is because, although Biden wins 87% of the elections, this does not factor in the margin he wins by. When truly looking at the data, you see that over half of the outcomes weighed in this 87% are decided by less than 1% of votes. Unfortunately, this does not leave much more for a margin of error as is required in most data analysis.
This very popular website does not factor in the impact that the website itself has on voters. With millions of people reading this data and seeing that Biden stands a 87% chance of winning, there is a high likelihood that voters will simply not turn up at the polls. This distinct percentage of voter turnout that may chose not to turn up at the polls because of analytics like this, would significantly impact the data set and could actually throw the results in the entire opposite direction, particularly when the decision is already being decided by such a slim margin.
Even though data analysis has turned into a booming industry, with more accurate results than ever before, there are some instances in which predictive analytics has placed significant limitations on the outcome of important decisions, such as the presidential election. I say all of this to not place doubt on analytics, nor the credibility of the FiveThirtyEight organization, but rather to remind readers of the important factor that is the human condition. At the end of the day it is important to exercise your right to vote no matter what side of the aisle you stand on, and without allowing polling data to influence your decisions. Vote!