Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

Big Data: The Be-All, End-All? Part 2 of 2

by Dan Gray
May 15, 2014
in Uncategorized
Home Uncategorized
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on e-mail

Last week, in conjunction with Big Data Week, we featured the best articles that speak to the power of big data.

While Big Data allows to extract insights like never before, it is also not the magic bullet in all situations. This week we feature the best articles that highlight the limitation of Big Data, and why we should exercise caution in harnessing its power:

1. “Correlation is not causation.”

Big Data: Are we making a Big Mistake? by Tim Harford, Financial Times, 2014

Supporters of big data make four claims: (1) Data analysis produces uncannily accurate results, (2) sampling techniques are obsolete because every data point can be captured, (3) observable correlation supersedes theories of causation, and (4) scientific models are obsolete because “the numbers speak for themselves”. Tim Harford argues these are simplifications at best, “absolute nonsense” at worst.

2. “Big Data gives us a false illusion of mastery.”

Connecting the Dots, Missing the Story, by Evgeny Morozov, Slate, 2013

Google doesn’t know why some sites are popular, but acting like a popular site secures a better search ranking. What if people get arrested for acting like a terrorist? Evgeny Morozov discusses problems with public institutions relying on correlation and ignoring causation. “Big Data buys us time, but it also gives us a false illusion of mastery.”

3. “No government is prepared for dislocating effects of Big Data”

Coming to an office near you, by The Economist, 2014

The Economist on how the current wave of innovation will have a massively disruptive effect on jobs, and why this time it’s different. Big data and exponential increase in processing power will allow for automation in sectors previously “resistant to tech-driven reinvention.” No government is prepared for the dislocating effects, but may help reduce it by reforming education.

 

(Image Credit: Flickr)

 


Interested in more content like this? Sign up to our newsletter, and you wont miss a thing!

[mc4wp_form]

Related Posts

Data sourcing is still a major stumbling block for AI

Data sourcing is still a major stumbling block for AI

August 18, 2022
How AI and Data Analytics Will Impact The Era of COVID-19

How AI and Data Analytics Will Impact The Era of COVID-19

February 17, 2022
The Medical Field is Changing Because of Artificial Intelligence

The Medical Field is Changing Because of Artificial Intelligence

August 19, 2021
AI-Powered Fintech Startup Zeni Raises m in Series B Round

AI-Powered Fintech Startup Zeni Raises $34m in Series B Round

August 6, 2021
Coming up LIVE: Can we have both Privacy and Security?

Coming up LIVE: Can we have both Privacy and Security?

June 4, 2020
How GDPR is Affecting Marketing Data

How GDPR is Affecting Marketing Data

July 5, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST ARTICLES

Trolling is fun until it is not

Taking pictures is so last year: “Prompt” pictures with Paragraphica

Operation Triangulation: Could Apple be an NSA agent, Russia asks

NEDA did not forgive Tessa’s mistake and terminated the AI chatbot after the backlash

Manage your friends list with Snapchat’s new galaxy-themed feature

Sneak peek at Microsoft Fabric price and its promising features

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy
  • Partnership
  • Writers wanted

Follow Us

  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.