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White House Unveils Big Data Projects, Round Two
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Brian.Dean
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Brian.Dean,
User Rank: Ninja
11/17/2013 | 12:47:42 AM
Re: 4.4 Million Jobs?
Tom: Well said as you took this GDP=C+I+G+(X-M) and extrapolated it with Big Data. And I agree with what you are saying because for example (and my figures might be off here), if data scientists are currently costing 120k a year to hire then just by creating a few scientists GDP won't necessarily rise unless the rest of our assumptions also hold true.

Viewed in this light the words "Data to Knowledge to Action" is beginning to make a lot more sense, still if the path from data to knowledge is covered between now and 2015 I would say "Job well done" and the action part could take decades.
Tom Murphy
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Tom Murphy,
User Rank: Author
11/16/2013 | 4:51:00 PM
Re: 4.4 Million Jobs?
Here's a chart that shows about 1.2 mln jobs have been created during the Obama administration, about 100k more than during the two Bush terms.  Together, that's about 2.3 mln.  This is based on Bureau of Labor Statistics data.

So, again, I truly doubt big data will create nearly twice as many jobs by 2015 than the Bush and Obama administrations created in all areas of the economy during the past 13 years.

http://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms
aditshar
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aditshar,
User Rank: Apprentice
11/16/2013 | 3:53:01 PM
Re: 4.4 Million Jobs?
I am not sure about how many Jobs Obama has created but yes this project will definately help in creating next generation of data scientists and engineers, which is much required seeking today limitation od data anylyst and data engineers.
Tom Murphy
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Tom Murphy,
User Rank: Author
11/16/2013 | 11:33:58 AM
Re: 4.4 Million Jobs?
Brian: Technology both creates and destroys. The increase in "efficiency" of which you spoke relates to fewer people doing the work of many. But the technology is designed, manufactured and distributed by people, too, which creates jobs. On a social perspective, it is important to find the right balance. 

For example, if manufacturing jobs in the US are replaced by robotic machines, unemployment rises, wages fall, and the overall economy will suffer. The manufacturer may see reduced costs and higher profit, but demand may suffer because there are fewer people who can afford the finished product. So the company may suffer, too.

With big data, it may create new jobs for data analysts, software makers, and sales pesonnel among others. On the other hand, it may reduce the need for market researchers, demographers and other specialists.  The net effect on local economies in the US, Europe or Asia is difficult to estimate at this point because the field is still so new, but it is extremely hard to believe it will generate 4.4 million jobs by 2015 because that is about how many jobs the US would hope to create in total during that period.
Brian.Dean
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Brian.Dean,
User Rank: Ninja
11/16/2013 | 1:56:40 AM
Re: 4.4 Million Jobs?
Tom: you are 100% right and maybe I am missing a big variable but last I checked technology destroys jobs while at the same time it increases the efficiency of an economy. So, if someone tells me that Big-data will destroy 4.4 million jobs I will be a bit more agreeable.

Of cause, I am not trying to be pessimistic here, as I can be optimistic as well. Big-data can create 50 million jobs but only when those 11.3 million people use big-data to create their own jobs as well as a surplus of 38.7 million jobs, next the world can think about ways to finish its shortage in human resources.  
Tom Murphy
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Tom Murphy,
User Rank: Author
11/16/2013 | 1:39:09 AM
Re: 4.4 Million Jobs?
Brian: Good points.  My guess is that they are speculating that big data will "touch" 4.4 million jobs. For example, healthcare workers, retail workers, financial workers, and many others will be "affected" by big data. But I sincerely doubt that big data will not create 4.4 million new jobs, even globally, over the next year or two.
Brian.Dean
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Brian.Dean,
User Rank: Ninja
11/15/2013 | 9:51:19 PM
Re: 4.4 Million Jobs?
@Tom, even if we assume that the source is directly from the department of labor, the question becomes where is the reasoning behind such a bold statement as 4.4 million new jobs is roughly 39% of the current 11.3 million unemployed. That's 39% of the unemployment problem that big data as a silver bullet is going to solve.

Yes however, say that the current workforce of employed at around 92.5% will produce an output that is equivalent to that of if 95% were employed and then everything will be a little more believable. Factor into the mix NSA and someone else can enjoy these benefits. 
William Terdoslavich
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William Terdoslavich,
User Rank: Apprentice
11/15/2013 | 9:14:34 PM
Re: 4.4 Million Jobs?
Perhaps a tad over-optimistic?
Tom Murphy
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Tom Murphy,
User Rank: Author
11/15/2013 | 8:11:48 PM
Re: Half the solution...
Why Bill, you sound a bit skeptical! I'm shocked, shocked to hear you suggest that politics could influence the success of a US government technology project.  Afterall, we got Healthcare.gov without any problems, didn't we?
Tom Murphy
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Tom Murphy,
User Rank: Author
11/15/2013 | 8:08:53 PM
4.4 Million Jobs?
My eye brow is arched high over the claim that  big data will create 4.4 million jobs between now and 2015. Source, please?

My trusty old calculator reckons that's about 314,000 jobs a month. Even if you meant between now and the end of 2015, that would be 169,000 jobs.

To put that into context, the US created 193,000 jobs during August and 148,000 jobs during September -- in all economic sectors.  So the claim suggests big data would create as many jobs as the entire US economy. 

Does anyone else find that claim a bit dubious?

 
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