Originally published: January 4, 2012
Last updated: January 4, 2012 - 5:25pm
The new year will bring plenty of splashy stories about iPads and IPOs. There is a more important theme gathering around us: How analytics harvested from massive databases will begin to inform our day-to-day business decisions. Call it Big Data, analytics, or decision science. Over time, this will change your world more than the iPad 3.
Computer systems are now becoming powerful enough, and subtle enough, to help us reduce human biases from our decision-making. And this is a key: They can do it in real-time. Inevitably, that "objective observer" will be a kind of organic, evolving database. These systems can now chew through billions of bits of data, analyze them via self-learning algorithms, and package the insights for immediate use. Neither we nor the computers are perfect, but in tandem, we might neutralize our biased, intuitive failings when we price a car, prescribe a medicine, or deploy a sales force. This is playing "Moneyball" at life. It means fewer hunches and more facts.
- Massive Health Uses Big Data, Mobile Phones to Fight Chronic Disease
- Fail Cheaper, Fail Better
- Is Your Doctor's iPad Good For Your Health?
- Big Data for Education: Data Mining, Data Analytics, and Web Dashboards
- Businesses are loaded with customer data, but unable to act upon it
- Canada says will not interfere with telecom firms
- Google's wacky stock split gives founders more clout
- Netflix apologizes for using actors to meet press at Canadian launch
- ASR Analytics Will provide BTOP Evaluation
- A Tool to Harvest iPhone Location Data
- Placed wants to redefine mobile web analytics with location
- Failure is a feature: how Google stays sharp gobbling up startups
- Bolstering a Phone’s Defenses Against Breaches
- How Media Companies Can Boost Ad Revenues