Open Thoughts on Analytics
OCT 28, 2013 10:47pm ET

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Bigger Data? Or Better Models? Or…..

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If you work in the analytics world, you’ve probably either read or at least heard of the seminal book "Big Data: A Revolution That Will Transform How We Live, Work and Think," published earlier this year. Authors Viktor Mayer-Schonberger and Kenneth Cukier’s provocative point of departure is that the new data norm of N=all and a tolerance for simple correlation over causation is changing the analytics landscape, obviating the need for much of traditional statistical analyses.

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Comments (2)
Ok - so it's not just about the quantity of data, or the analytic methodology - let's not forget about the quality of the data. Often lofty goals are missed because the underlying data is incomplete or incorrectly captured. So many times big data is just a lot of messy data.
Posted by Catherine F | Wednesday, October 30 2013 at 11:29AM ET
Let's face it, what it is about is either generating additional revenues, generating savings through better supply-chain management (the vendor will only stock what they predict will be sold) or some combination of both. While identifying causality is (in business) a nice to have - because if accurately identified it should mean it can be repeated - the real goal is results and they are (typically) measured in dollars.
Posted by Gary B | Saturday, December 07 2013 at 11:26PM ET
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