The Problem I am Trying To Solve
“The fooled-by-data effect is accelerating. There is a nasty phenomenon called ‘Big Data’ in which researchers have brought cherry-picking to an industrial level. Modernity provides too many variables (but too little data per variable), and the spurious relationships grow much, much faster than real information, as noise is convex and information is concave.” – Nassim Nicholas Taleb, Antifragile, p. 416
According to Taleb, there’s a bias for error embedded in big data; more is not better, it’s worse. I’ve experienced this with business intelligence solutions and spoken about data quality in data warehouse solutions, saying:
“The ratio of good:bad data in a useless / inaccurate data warehouse is surprisingly high; almost always north of 95% and often higher than 99%.”
Taleb states more data includes a disproportionate amount of bad data, and that bigger data results in more spurious correlations. In other words, more is not better – it’s worse.
It’s an idea worth grappling with. The other side of the argument is that for some problems, you won’t know what you need until you need it.