An interesting overview of how increasingly large datasets and improved analytical capabilities are changing business and decision-making. The strongest examples show how information that previously went unused can reveal patterns, improve predictions, and make processes more measurable.
The enthusiasm surrounding big data should nevertheless be treated cautiously. More observations do not automatically eliminate selection bias, measurement problems or confounding, and a variable that predicts an outcome is not necessarily a variable that will cause the outcome to change when manipulated.
The real value of data therefore lies not in its volume but in whether it improves decisions. Data must be collected appropriately, analyzed with suitable methods, and connected to actions whose results can be evaluated.
Interesting and useful, although the underlying principles are more durable than some of the broader enthusiasm surrounding “big data.”