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Big Data Chapter 1 Verónica Morales Márquez, 0404557.

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Presentation on theme: "Big Data Chapter 1 Verónica Morales Márquez, 0404557."— Presentation transcript:

1 Big Data Chapter 1 Verónica Morales Márquez, 0404557

2  Big Data is making a big difference in areas like public health, business sectors, government, education, economics, the humanities, and every other aspect of society. ◦ Data became a raw material of business, a vital economic input, used to create a new form of economic value. ◦ With the right mindset, data can be cleverly reused to become a fountain of innovation and new services.

3  Initial idea of Big Data: The volume of information had grown so large that the quantity being examined no longer fit into the memory that computers use for processing, so engineers needed to revamp the tools they used for analyzing it all.  New processing technologies like Google’s MapReduce and Hadoop.  Improvements: Manage far larger quantities of data than before, and the data need not be placed in tidy rows or classic database tables.

4  Big data refers to things one can do at a large scale that cannot be done at a smaller one, to extract new insights or create new forms of value, in ways that change markets, organizations, the relationship between citizens and governments, and more.  The era of big data challenges the way we live and interact with the world: ◦ Society will need to shed some of its obsession for causality in exchange for simple correlations: not knowing why but only what. ◦ New techniques for collecting and analyzing huge bodies of data will help us make sense of our world in ways we are just starting to appreciate. ◦ The real revolution is not in the machines that calculate data but in data itself and how we use it.

5  Big data is about predictions. Though it is described as part of artificial intelligence (machine learning), this characterization is misleading. ◦ Big data is about applying math to huge quantities of data in order to infer probabilities.  All the systems based on predictions perform well because they are fed with lots of data on which to base their predictions.  The systems are built to improve themselves over time, by keeping a tab on what are the best signals and patterns to look for as more data is fed in.

6  Big data’s ascendancy represents three shifts in the way we analyze information that transform how we understand and organize society. ◦ Using all the data lets us see details we never could when we were limited to smaller quantities. Big data gives us an especially clear view of the granular: subcategories and submarkets that samples can’t assess. ◦ Looking at vastly more data also permits us to loosen up our desire for exactitude: with less error from sampling we can accept more measurement error. What we lose in accuracy at the micro level we gain in insight at the macro level. ◦ In a big-data world, by contrast, we won’t have to be fixated on causality. The correlations may not tell us precisely why something is happening, but they alert us that it is happening. Big data is about what, not why

7  Datafication: It refers to taking information about all things under the sun including ones we never used to think of as information at all, and transforming it into a data format to make it quantified. (Used for predictive analysis)  Because of the data’s vast size, decisions may often be made not by humans but by machines-> humans can understandand human behavior. But how do you regulate an algorithm?  The age of big data will require new rules to safeguard the sanctity of the individual.

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