- Many organizations have bet their businesses on big data, but still struggle to cut through the veil of myths that obscure the true value of this technology. In our recent #BigDataMgmt Twitter chat, Professor Kirk Borne, data scientist, and Neil Raden, CEO and Principal Analyst of Hired Brains, joined us as we debunked some of the big data myths. Here is a snippet from that conversation.
- Does big data always trump small data?
#bigdatamgmt A2: Small data tells an intimate story. #BigData tells gazillions of such stories. You need both!- #bigdatamgmt A2: #BigData allows for whole-population #analytics! See @jameskobielus comments at: http://linkd.in/19dY2Ul
A2 BigData and small data are relative terms.But both are needed for #analytics #BigDataMgmt- A2 Data doesn’t always speak for itself.Detail can be noisy/dirty.OTOH, aggr'd data can lead to Simpson's Paradox #BigDataMgmt
A2: #bigdatamgmt #BigData is about seeing diff value from analytics as you ramp up "3Vs." But much analytic app value (eg BI) @ lower scale
A2: #bigdata complements small data. Depending on your biz problem, either may trump the other. #bigdatamgmt- A2 Data doesn’t always speak for itself.Detail can be noisy/dirty.OTOH, aggr'd data can lead to Simpson's Paradox #BigDataMgmt
- A2 Consider telemetrics for predictive maintentance.Every bit of data in phone lines not needed.Good models more important #BigDataMgmt
- #bigdatamgmt A2: #BigData allows for whole-population #analytics! See @jameskobielus comments at: http://linkd.in/19dY2Ul
#bigdatamgmt A2: There are so many dimensions, correlations, "outliers", clusters/classes to discover with #BigData! pic.twitter.com/gfqVPhxw35- A2: #bigdatamgmt Sandbox data,4 exploration, usually smaller than operatnl data. But sandbox where data sci finds patterns (ie core value)
A2: Both Small Data and Big Data are important. The more important thing is clean usable data! #bigdatamgmt- Is big data primarily used for analyzing social media and customer sentiment?
- A4 Misconception/oversimplification that #BigData is only about customers and selling things. #BigDataMgmt
- A4 Funnel Conversion,Cust Seg,Behavioral,Churn,etc.get lots of press,but prpmise of Bigdata (hopefully) is a better world #BigDataMgmt
- #bigdatamgmt A4: I think you mean #DataScience & #Analytics! They're used on #BigData in ALL disciplines & domains: https://twitter.com/KirkDBorne/status/410535065932681216 …
- A4: #bigdatamgmt Not primary, but hot. Current #bigdata boom triggered in part by CMOs flocking to new ways 2 unlock social-media sentiment
#bigdatamgmt A4: "primarily" tough to judge. But also huge in things like curing cancer: http://www.saphana.com/community/blogs/blog/2012/04/09/hana-speeds-cancer-research-and-results …- A4: No, many use cases of #bigdata for predictive maintenance, smart grid & 'smart cities,' financial, & terrorist tracking. #bigdatamgmt
- A4: #bigdatamgmt If you look at other hot #bigdata analytic apps (e.g geospatial, mobile, #CXO, IoT), many are customer/user focused.
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