Origin of big data

Here are three links that are worth your time.

  • Who came up with the name big data? The an­swer is much older than you think. Even the “three Vs” of big data (volume, ve­lo­city, vari­ety) date back to 2001.
  • JC Penney’s park­ing lots are empty­ing. The de­cline neatly cor­rel­ates with their stock price. Satellite im­agery is also be­ing used to fore­cast “… things like pover­ty (by track­ing build­ing height and rooftop ma­ter­i­al), oil in­vent­ory (by look­ing at im­ages of tanks and drilling rigs), and ag­ri­cul­tur­al yields (by ob­serving crops and ana­lyz­ing weather data)”
  • JP Morgan uses ma­chine learn­ing to auto­mat­ic­ally “read” thou­sands of con­tracts and in­ter­pret them. This gets us much closer to the Bill Gates mile­stone: “… when com­puters can read and un­der­stand in­form­a­tion like hu­mans do.”

Soon, we can leave the read­ing to the ma­chines and go out Saturday night.

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