Charles Wheelan, professor and author, was addressing a Noblis audience on his recent book, “Naked Statistics - Stripping the Dread from the Data”. He discussed how big data could be both beneficial and challenging. He brought out various factors to be noted in statistics. The professor stated that privacy and misuse of data were the main concerns in big data. An interesting point he put across was that someone stated he did not love statistics but he loved what one could do with statistics.
The author emphasized that precision and accuracy were not synonymous. He said that big data allowed us to be precise. Accuracy, however, was about whether a figure had a certain relation with the reality. He also talked about the power of predictive analysis,
The author emphasized that precision and accuracy were not synonymous. He said that big data allowed us to be precise. Accuracy, however, was about whether a figure had a certain relation with the reality. He also talked about the power of predictive analysis,