Being surrounded by data makes it easy to see the noise rather than the signal, and the trees rather than the forest, writes Andre Mouton in USA Today.
“Nassim Nicholas Taleb achieved notoriety with several books written before the housing crisis, criticizing the financial industry for putting so much faith in its predictions. He argued in Fooled by Randomness that there are problems with our attempts to understand the past, and even larger issues when we use it to predict the future. Those criticisms turned out to be justified.
“Big data” is allowing more industries to try their hand at fortunetelling. With social media and portable devices, we can watch society just like traders watch the stock market. People can be measured, quantified, modeled. As we enter this brave new world, it’s worth considering some of Taleb’s points and seeing how they might apply to big data.”
He concludes: “If businesses and governments see [big data] as a tool for self-measurement, they’ll find it useful. If they see it as a way to “crack the code,” or quantify human nature, or predict the unpredictable, they’re probably fooling themselves.”
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Following the 2016 Smart Innovation Award at “FIMBACTE Trophées du Cadre de vie”, the CITYOPT project has once again been recognized, this time in the prestigious French design competition: “Observeur du Design 2017”, in the Service Design category. In June 2016, CITYOPT won the first stage of the Observeur du Design. Now the project has […]
Last month Putting People First announced the upcoming conference on design & sustainable innovation for smart cities in Nice France. Meanwhile we are pleased to announce the full event agenda (see below). This event will feature professionals from leading research institutes and industry gathering to present key initiatives which combine Energy Efficiency and Service Design […]
Invitation to the International Conference on Design & Sustainable Innovation for SmartCities Nice (France) 8 December 2016 On the 8th December 2016, the CITYOPT project will host an international conference on Design and sustainable innovation for SmartCities, at the Centre Universitaire Méditerranéen, France. An open invitation to attend is offered to people and organisations who […]
The 100&Change is an international competition and a landmark opportunity for thinkers and designers to tackle critical challenges affecting the world. Michele Visciòla will be one of the panel of expert judges who will select which project is worthy of the $100 million grant. 100&Change is the MacArthur Foundation competition – launched this year for […]
The September issue of the Harvard Business Review (HBR) contains a lengthy essay, entitled Building an Insights Engine, on how Unilever has created the organizational capabilities to “transform data into insights about consumers’ motivations and to turn those insights into strategy.” The article was written by Frank van den Driest and Keith Weed of a […]
This week Experientia joins our colleagues and peers in Minneapolis at EPIC 2016, the premier international gathering on ethnography and design in industry. The theme for the conference this year is Pathmaking, emphasizing the power of ethnography to create transformative innovation, growth and strategic success for companies, industries and communities. On the second day of […]