A Quote by Bryan Caplan
There are two sources of error: Either you lack sufficient data, or you fail to take advantage of the data that you have.
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One of the myths about the Internet of Things is that companies have all the data they need, but their real challenge is making sense of it. In reality, the cost of collecting some kinds of data remains too high, the quality of the data isn't always good enough, and it remains difficult to integrate multiple data sources.
The biggest mistake is an over-reliance on data. Managers will say if there are no data they can take no action. However, data only exist about the past. By the time data become conclusive, it is too late to take actions based on those conclusions.
Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack of a better term: "Why does it take two weeks? Why can't you do it in 15 minutes?"
Any time scientists disagree, it's because we have insufficient data. Then we can agree on what kind of data to get; we get the data; and the data solves the problem. Either I'm right, or you're right, or we're both wrong. And we move on. That kind of conflict resolution does not exist in politics or religion.
When dealing with data, scientists have often struggled to account for the risks and harms using it might inflict. One primary concern has been privacy - the disclosure of sensitive data about individuals, either directly to the public or indirectly from anonymised data sets through computational processes of re-identification.
I will talk about two sets of things. One is how productivity and collaboration are reinventing the nature of work, and how this will be very important for the global economy. And two, data. In other words, the profound impact of digital technology that stems from data and the data feedback loop.
We tend to assume that data is either private or public, either owned by one person or shared by many. In fact there's more to it than that, above and beyond the upsetting reality that private data is now anything but.
A data scientist is that unique blend of skills that can both unlock the insights of data and tell a fantastic story via the data.
MapReduce has become the assembly language for big data processing, and SnapReduce employs sophisticated techniques to compile SnapLogic data integration pipelines into this new big data target language. Applying everything we know about the two worlds of integration and Hadoop, we built our technology to directly fit MapReduce, making the process of connectivity and large scale data integration seamless and simple.
Data!data!data!" he cried impatiently. "I can't make bricks without clay.
Go out and collect data and, instead of having the answer, just look at the data and see if the data tells you anything. When we're allowed to do this with companies, it's almost magical.
Whereas much of what we know from ancient history is derived from one or two sources, we have no fewer than nine ancient sources, inside and outside the New Testament, corroborating the disciples' conviction that they encountered the resurrected Jesus. That's an avalanche of data.
Biases and blind spots exist in big data as much as they do in individual perceptions and experiences. Yet there is a problematic belief that bigger data is always better data and that correlation is as good as causation.
People think 'big data' avoids the problem of discrimination because you are dealing with big data sets, but, in fact, big data is being used for more and more precise forms of discrimination - a form of data redlining.
In my view, our approach to global warming exemplifies everything that is wrong with our approach to the environment. We are basing our decisions on speculation, not evidence. Proponents are pressing their views with more PR than scientific data. Indeed, we have allowed the whole issue to be politicized-red vs blue, Republican vs Democrat. This is in my view absurd. Data aren't political. Data are data. Politics leads you in the direction of a belief. Data, if you follow them, lead you to truth.
Scientific data are not taken for museum purposes; they are taken as a basis for doing something. If nothing is to be done with the data, then there is no use in collecting any. The ultimate purpose of taking data is to provide a basis for action or a recommendation for action. The step intermediate between the collection of data and the action is prediction.
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