When we use big data to inform decisions, all is good. But when we let big data dictate our decisions, things go toes up pretty darn quick. That's the lesson many learned the hard way--especially sport teams--while following the Moneyball path.
TSYS, a major credit card processor reported more than 21,000 Fifth Third Bank customers had filed for bankruptcy. Unfortunately none of those thousands of people actually had.
Much ado is made about how big data can rev up revenues, usually in light of product innovation or creating new lines of revenue streams. Little is said of the reverse positive that can also be found through big data: sometimes the big money is in scaling back your business rather than expanding it.
The future does not look good for the unemployed and future college grads--nor for capitalism as new automation replaces jobs but fails to create new ones.
Oddly, this is both a comforting and disturbing read. Very illuminating on where current trends fit into the bigger picture.
DHL released a report (.pdf) last month and your company might benefit from its information.
This will likely sadden those who would prefer to believe that big data is king or that President Obama somehow won through some technological trickery. It will however also teach all those who are willing to learn where and when and how to play big data for an extra competitive win in a game with far more at stake than Moneyball.
Public debate born from the Snowden revelations and the NSA controversy bodes ill for the private sector. Some of the backlash has already hit in that corporations associated with feeding the NSA information, voluntarily or not, are now seeing sales fall as their customers shy away from such breaches--real or perceived. But that is not the end of the fallout. The debate is awakening consumers to what the private sector is up to, too. And they're hopping mad.
So go ahead, naysayers, go ahead and taunt me with a version of "Oh yeah, you and what army?" I'll match you with the U.S. Army, plus up the ante with the Navy, Air Force and the Marines. They're all pumping human expert knowledge into their algorithms to create a common operating picture that even the greenest newbie in their ranks can understand and use expertly.
Some companies are nervous about putting sensitive business data in the public cloud. Even if the data is encrypted, it'll have to be unencrypted to be of any use. But what if you could analyze your cloud-based data without ever decrypting it?