Big Data & The Law Of Diminishing Returns - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Comments
Big Data & The Law Of Diminishing Returns
Newest First  |  Oldest First  |  Threaded View
pfretty494
100%
0%
pfretty494,
User Rank: Moderator
12/7/2015 | 2:03:36 PM
Returns don't have to be fleeting
As long as your use of big data continues to grow with your maturity level there is no reason why the returns would have to be fleeting. Even in many of the touted case studies, most businesses are only using a fraction of the potential within analytics. It really depends on organizations being open to the potential. Peter Fretty, IDG blogger for SAS
kstaron
50%
50%
kstaron,
User Rank: Ninja
11/30/2015 | 9:03:14 AM
3 lies of the world
A professor once told me there are 3 types of lies in this world; White lies, Damnable lies, and Statistics. Poor use of data can lead to a stack of lies your company ends up relying on. You might find correlations but until you've used proper judgement you don't know if those are causal or both rresulting from some unmeasured metric. Be careful with what you do based on collected data until you really know what you do know (and what you don't).
Broadway0474
50%
50%
Broadway0474,
User Rank: Ninja
11/29/2015 | 9:32:36 PM
Re: Like anything else that is new
Gary, any higher ed institution trying to find its purpose in the post-MOOC world ought to really consider what you said. They can't crank out enough PhDs. But they could create specialty MBA or master's of science programs to fill the void of data-driven decision makers.
Gary_EL
50%
50%
Gary_EL,
User Rank: Ninja
11/29/2015 | 6:58:30 PM
Re: Like anything else that is new
I'm certainly no data scientist myself, but I do some work researching general Internet of Things (IOT) topics. Businesses are now or soon will be deluged with a VAST amount of information from many, many sources. There probably aren't enough PhD mathematicians in the world to do that data justice. It is almost inevitable that poorly qualified individuals will end up trying to make sense out of that data, and do a poor job at it
Broadway0474
50%
50%
Broadway0474,
User Rank: Ninja
11/28/2015 | 9:59:29 PM
Re: Like anything else that is new
Wow, a lot of good nuggets of information in this article. Well done. For the 62 percent of people working on big data who don't know what they're doing ... are these people with the title "data scientist" or are they the managers getting the reports from the big data algorithms. If it's the former, that's even scarier. 
Gary_EL
100%
0%
Gary_EL,
User Rank: Ninja
11/27/2015 | 9:02:18 PM
Like anything else that is new
This doesn't surprise. Business people can be like children with a new toy - they just want to open the box and play. Never mind about reading the instructions, or allowing someone else to interpret them and read them to you. The good news is that unlike that new toy, big data won't be destroyed. But a lot of time will be wasted and much frustration will ensue.


2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
Slideshows
Data Science: How the Pandemic Has Affected 10 Popular Jobs
Cynthia Harvey, Freelance Journalist, InformationWeek,  9/9/2020
Commentary
The Growing Security Priority for DevOps and Cloud Migration
Joao-Pierre S. Ruth, Senior Writer,  9/3/2020
Commentary
Dark Side of AI: How to Make Artificial Intelligence Trustworthy
Guest Commentary, Guest Commentary,  9/15/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Automation Transforms Network Management
In this special report we will examine the layers of automation and orchestration in IT operations, and how they can provide high availability and greater scale for modern applications and business demands.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll