Remove 2010 Remove Big Data Remove Cost-Benefit Remove Statistics
article thumbnail

New Thinking, Old Thinking and a Fairytale

Peter James Thomas

Of course it can be argued that you can use statistics (and Google Trends in particular) to prove anything [1] , but I found the above figures striking. Business Process Reengineering (BPR) used to be a big deal. And reduced costs aren’t guaranteed […]. Source: Google Trends. The scope is worldwide.

article thumbnail

Unintentional data

The Unofficial Google Data Science Blog

1]" Statistics, as a discipline, was largely developed in a small data world. Data was expensive to gather, and therefore decisions to collect data were generally well-considered. Implicitly, there was a prior belief about some interesting causal mechanism or an underlying hypothesis motivating the collection of the data.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Using random effects models in prediction problems

The Unofficial Google Data Science Blog

Far from hypothetical, we have encountered these issues in our experiences with "big data" prediction problems. We often use statistical models to summarize the variation in our data, and random effects models are well suited for this — they are a form of ANOVA after all. 5] Anoop Korattikara, et al. 7] Nicholas A.

article thumbnail

Why Data Driven Decision Making is Your Path To Business Success

datapine

The term ‘big data’ alone has become something of a buzzword in recent times – and for good reason. Fundamentally, data driven decision making means working towards key business goals by leveraging verified, analyzed data rather than merely shooting in the dark. We read about it everywhere. The proof is in the numbers.