Thursday, February 16, 2012

Big Data

Orwell's neologism was almost on point...

A report last year by the McKinsey Global Institute, the research arm of the consulting firm, projected that the United States needs 140,000 to 190,000 more workers with “deep analytical” expertise and 1.5 million more data-literate managers, whether retrained or hired.

A student majoring in math and political science may conduct research involving the computer-automated analysis of blog postings, Congressional speeches and press releases, and news articles, looking for insights into how political ideas spread.

Gary King, director of Harvard’s Institute for Quantitative Social Science calls it "the march of quantification".

At the World Economic Forum last month in Davos, Switzerland, Big Data was a marquee topic. A report by the forum, “Big Data, Big Impact,” declared data a new class of economic asset, like currency or gold.

Big Data - a new approach to understanding the world and making decisions

It’s not just more streams of data, but entirely new ones. For example, there are now countless digital sensors worldwide in industrial equipment, automobiles, electrical meters and shipping crates. They can measure and communicate location, movement, vibration, temperature, humidity, even chemical changes in the air.

The Internet of Things or the Industrial Internet

Data in the Wild — unruly stuff like words, images and video on the Web and those streams of sensor data is called unstructured data and is not typically grist for traditional databases.

AI programs understand wild data

Data measurement, MIT Professor Brynjolfsson explains, is the modern equivalent of the microscope. Google searches, Facebook posts and Twitter messages, for example, make it possible to measure behavior and sentiment in fine detail and as it happens.

“Data-Driven Decision Making”

this post is taken from:
The Age of Big Data
Steve Lohr, New York Times
February 11, 2012

for entertainment purposes only:
[I Always Feel Like] Somebody's Wacthing Me

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