Is Big Data a mistake?
Tim Harford takes a look at big data for the Financial Times and asks if we are we making a big mistake.
But the “big data” that interests many companies is what we might call “found data”, the digital exhaust of web searches, credit card payments and mobiles pinging the nearest phone mast. [...] As our communication, leisure and commerce have moved to the internet and the internet has moved into our phones, our cars and even our glasses, life can be recorded and quantified in a way that would have been hard to imagine just a decade ago.
I think the main take-away is that there’s a need to be careful with the data and not jump to conclusions, just because you have a lot of data, doesn’t mean it’s good. I also think it’s important for these companies to allow us, as consumers, to access our data in the same ways that they’re able to.
As a side-note, I came really close to not posting this link because of scuzzy clipboard hijack behaviour from FT. I copied the above text to use as a quote. Upon pasting the quote, they attached a wonderful message about the effort that journalism takes and to use the link to share instead. That’s exactly what I was doing, and despise the insinuation that I somehow disrespect the efforts of journalists by copying a paragraph of text.