Simple ProblemsLow data volume, simple algorithm(s)
Quant ProblemsAny data volume, complex algorithm(s)
Big Data ProblemsLarge data volume, simple algorithm(s) Types of Big Data Problem: 1. Inherent 2. More data gives better result than more complex algorithm
The good and bad of big dataGood – Lots of new tools, mostly open sourceBad – Term being abused by marketing departments – Can easily lead to over reliance on systems that lack transparency and ignore specific data points Computer says no, but nobody can explain why
Whoever thinks his problem is solved by big data,doesn’t understand his problemand doesn’t understand big data (With apologies to Roger Needham) Original blog post at is.gd/swbdla
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