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Nate Silver's Big Data Lessons For The Enterprise
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An-Jen
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An-Jen,
User Rank: Apprentice
11/8/2012 | 5:40:47 PM
re: Nate Silver's Big Data Lessons For The Enterprise
The problem here is that you've somehow managed to turn Silver's success into an ad for Big Data. What Silver did is almost the opposite of Big Data. At the heart of it is a simple probabilistic model of election outcomes. And while he uses a fairly large variety of information, the amount would probably fit into a small spreadsheet. More importantly the only data that really mattered were the polling results. Everything else had only minor impact on his predictions. The lessons for businesses is to UNDERSTAND what drives your processes and focus your attention on collecting what you need. Boiling the ocean with Big Data is, more often than not, a complete waste of money.
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