When a group Boston College students began a project analyzing data received from UFO sightings, they wanted to receive some insights into the factors that influence alleged UFO sightings, such as weather, movie releases etc. In 2014, the Economist conducted similar research and found that most UFO sightings occur during the so-called drinking hours , between 5-11pm, when … [Read more...] about What Big Data and UFOs Have in Common
Automation is not a fad. It is the future of business models in almost every industry. Unfortunately, automation has introduced new risks that brands must prepare for. One of the biggest concerns that have been raised in recent months is the risk of institutional bias and unintentional discrimination. Brands may make decisions based on demographic information with limited … [Read more...] about Problems With Structural Bias With Big Data Automation Models
In an ever-increasing corporate landscape, making quality hires is critically important for organizations looking to improve their bottom line. The U.S. Department of Labor estimates that the cost of a bad hire is in excess of 30% of that employee's first-year earnings. To reduce the occurrence of bad hires, a growing number of businesses are turning to predictive analytics and … [Read more...] about The Power of Predictive Analytics in Hiring
I know one thing; that I know nothing. These words were famously attributed to Socrates in one of Plato's accounts of the philosopher, a phrase that now comes to represent the Socratic paradox. While it is contested whether Socrates actually said these words, the meaning is still poignant, indicating that the wisest people are the ones who don't assume to know all, who keep an … [Read more...] about Is Big Data a Slippery Slope?
It is natural for the human mind to participate in a practice called apophenia, which is when our brains instinctively find patterns that contribute to meaningful relationships in various forms of collected data. This phenomenon has also been referred to as "patternicity" or "big data snooping". While this tendency can be quite beneficial in the collection and analysis of many … [Read more...] about What Does it Mean to be a Big Data Snooper?