Author: Cosimo Accoto

(from the preface) “The Information Age suffers from a glaring omission. This claim may surprise many, considering we are actively recording Everything That Happens in the World. Moving beyond history books that document important events, we’ve progressed to systems that log every click, payment, call, crash, crime, and illness. With this in place, you would expect lovers of data to be satisfied, if not spoiled rotten. But this apparent infinity of information excludes the very events that would be most valuable to know of: things that haven’t happened yet” (Siegel, Predictive Analytics, 2013)

“In other words, real-time denotes the ability to process data as it arrives, rather than storing the data and retrieving it at some point in the future. That’s the primary significance of the term — real-time means that you’re processing data in the present, rather than in the future. But “the present” also has different meanings to different users. From the perspective of an online merchant, “the present” means the attention span of a potential customer. If the processing time of a transaction exceeds the customer’s attention span, the merchant doesn’t consider it real time. From the perspective of an options trader, however, real time means milliseconds. From the perspective of a guided missile, real time means microseconds” (from “Real time Big Data Analytics”, Mike Barlow, O’Reilly, 2013).

Issue Contents

http://www.tandfonline.com/toc/hbem20/current

Some perspective on #Bigdata issue in a response of American Statistical Association about calls for comment on “how the National Science Foundation (NSF) can better support the statistical sciences…”

Click to access StatsNSF_ASA_response.pdf

http://dupress.com/articles/too-big-to-ignore/

“Much of the language surrounding big data conveys a muddled conception of what data, “big” or otherwise, means to the majority of organizations pursuing analytics strategies. Big data is shrouded in hyperbole and confusion, which can be a breeding ground for strategic errors. Big data is a big deal, but it is time to separate the signal from the noise” (from Deloitte Review, 12, 2013)

Click to access simon.pdf

H. A. Simon, (1971), “Designing Organizations for an Information-Rich World,” in Martin Greenberger, Computers,
Communication, and the Public Interest, Baltimore, MD: The Johns Hopkins Press, pp. 40–41.

According to Bill Franks, author of “Taming the Big Data” (2012): “Organizations need to jump in and start leveraging it today. There is no reason to delay. While there will certainly be bumps in the road and some resistance to change, it is entirely possible to tame big data starting right now. Whether it is text data or web data or sensor data, there are already organizations actively capturing, analyzing, and making decisions based upon it. The organizations that decide to be leaders will uncover new business opportunities and implement new business processes before the followers realize what has happened. It is rare to have a chance to be among the first to enter an entirely new realm of data and analysis. Don’t let your organization miss the chance that is sitting in front of you today. Begin to uncover the ways that the analysis of big data can change how your organization does business. Reap the benefits. What are you waiting for?”

My first visualization schema of a social business networking project (a case): innovation via collaborative communities.