BETABEAT – Nate Silver’s Sweep Is a Huge Win for ‘Big Data’

November 8, 2012
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(This article was originally published at Access to Statistics, and syndicated at StatsBlogs.)

The data utopia awaits.
By Nitasha Tiku 11/07 11:10am
(Illustration: ilovecharts.tumblr.com)
Like “pivot” and “cloud computing,” “big data” is one of those startup buzzwords that gets thrown around indiscriminately–partly because it means different things depending on the intel you’re trying to unearth and partly because it sounds like the kind of futuristic jargon that opens doors. Using machine learning to analyze big data? We can practically see the pitch deck already!
As The Economist noted back in 2010, the deluge of large data sets unleashed by the digital age, “makes it possible to do many things that previously could not be done: spot business trends, prevent diseases, combat crime and so on. Managed well, the data can be used to unlock new sources of economic value, provide fresh insights into science and hold governments to account.”



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