Unfortunately, Mr. Kakaes’ column appears to be part of a larger narrative that is skewing the perception of the importance of advanced data analytics to economies, societies and families around the world.
Big Data is not merely the accumulation of vast amounts of information, but a collection of interconnected and interrelated data points that, when analyzed carefully, helps business leaders make decisions that lead to increased profitability and job creation, assists doctors and scientists in understanding critical factors about health care, helps policymakers better protect the public from potential terror attacks, and much more.
To be clear, advanced analytics techniques go beyond merely describing the data that is available. If you want to make better decisions you decide what important data you need to know, collect it in ways that operations researchers can analyze, and think: What assumptions must I make before I proceed?
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