Saturday, August 08, 2015

Big Data Analytics

Big data analytics is all the rage today in Technology. Companies can't hire people with titles like "data scientist" fast enough. Here's an article about a guy who went from waiting tables to making $100,000 a year after a coding boot camp (note - he is a ringer - he at least was a math major in college... but they have other more surprising ones like English majors as well).

The real issue, however, is "what insights come from all of this data we've collected?" Above you can see a picture that illustrates one of the first "learnings" out of big data. This article (I love the internet, can't believe I could find it again) from back in 2009 as the economy imploded tells the tale...
Why did chrome-skull owners skip out on their debts? “The person who buys a skull for their car, they are like people who go to a bar named Sharx,” Martin told me. “Would you give them a loan?”
Thus these big data scientists are predicting (quite logically, IMHO) that the guy (I'm 99% sure it is a guy) who put this skull based ornament on his ACURA (??) is much less likely to pay back his debt than the old lady who puts birdseed on her credit card. That's apparently an insight worth paying for.

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