Every once in a while I run into a little company that comes at an existing market as if the folks already in it are idiots — and sometimes they are right. Here’s the thing: What often happens is a company breaks out in a segment, and everyone groups around that company’s ideas and emulates them. Few initially stand up and say, “Wait a minute — what if they’re wrong?” Often we get so excited about building the market, we don’t realize until much later that the initial attempt at solving a problem doesn’t work.
The idea in fact is not new. The engineering world does this all the time. The data collected by sensors is statistically analysed and aggregated based on Time slice, length, position, item... or some combination of dimensions.
The aggregated results validated to be representative of the actual sub second data.
The aggregates then are used as the data for Analytics.
The aggregations are usually the variance, average, std. dev, range... nothing unusual.
The idea is just like human beings aggregate and form itemized granular opinions based on small subsets or observations of data and aggregate the opinions to form larger conclusions for different circumstances.
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What If We’ve Got Big Data and Analytics All Wrong?
Posted by: Rob Enderle July 4, 2016 08:00 AMEvery once in a while I run into a little company that comes at an existing market as if the folks already in it are idiots — and sometimes they are right. Here’s the thing: What often happens is a company breaks out in a segment, and everyone groups around that company’s ideas and emulates them. Few initially stand up and say, “Wait a minute — what if they’re wrong?” Often we get so excited about building the market, we don’t realize until much later that the initial attempt at solving a problem doesn’t work.
The aggregated results validated to be representative of the actual sub second data.
The aggregates then are used as the data for Analytics.
The aggregations are usually the variance, average, std. dev, range... nothing unusual.
The idea is just like human beings aggregate and form itemized granular opinions based on small subsets or observations of data and aggregate the opinions to form larger conclusions for different circumstances.