A Quote by Robert J. Shiller
It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.
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One [Big Data] challenge is how we can understand and use big data when it comes in an unstructured format.
We get more data about people than any other data company gets about people, about anything - and it's not even close. We're looking at what you know, what you don't know, how you learn best. The big difference between us and other big data companies is that we're not ever marketing your data to a third party for any reason.
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.
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.
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.
Data in our psychic program is often nonlinear, nonhierarchical, archaic, alive, and teeming with paradox. Simply booting up is a challenge, if not for no other reason than that most of us find acknowledging the unknowable and monitoring its intrusions upon the familiar and mundane more than a little embarrassing.
The USA Freedom Act does not propose that we abandon any and all efforts to analyze telephone data, what we're talking about here is a program that currently contemplates the collection of all data just as a routine matter and the aggregation of all that data in one database. That causes concerns for a lot of people... There's a lot of potential for abuse.
I'm going to say something rather controversial. Big data, as people understand it today, is just a bigger version of small data. Fundamentally, what we're doing with data has not changed; there's just more of it.
... negative feelings are not true feelings at all; rather, they are your thoughts about something, based always on the previous experience of yourself and others. You will not find Truth in your past data, only past data that is based on other past data that is based on other past data, and so forth. Forget your "past experience" and look directly at the experience you are having. Right Here, Right Now. There is your 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.
Data drives success. That is how we began our success with eSpeed. It was always based on the data.
As our society tips toward one based on data, our collective decisions around how that data can be used will determine what kind of a culture we live in.
To be honest, more than what I prepare, it's the directors who do the bulk of the work, researching, collecting data and all that. I like to see myself as a processor: they feed me with the data, I give the output.
Simple models and a lot of data trump more elaborate models based on less data.
With too little data, you won't be able to make any conclusions that you trust. With loads of data you will find relationships that aren't real... Big data isn't about bits, it's about talent.
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