Here are some statistics I found interesting: while conventional wisdom tell us that with the internet (and in particular social media) have segregated us politically, by making it possible for us to filter out people with differing views from our feeds. It might be true, though the data can’t confirm this, instead, we are more likely to meet someone with opposite views online than offline. (pages 140, 141, 142 and 144)
Having more data isn’t always better. The usefulness of big data isn’t that it necessarily will provide better answers to the same questions.
Instead, big data enables us to ask new kinds of questions. For example, when we have a lot of data, it’s possible to compare very narrowly specified groups based on demographics, preferences or perhaps geography. There are also completely new types of data that can be used such as google search data, which again allows us to answer completely new question.
#economics #everybodylies #sethstephensdavidowitz #datascience #bigdata