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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Experientia has now its own Twitter feed. Four months of Putting People First posts and other links have already been uploaded. If you followed Experientia on Twitter through the feed of its CEO, Mark Vanderbeeken, make sure to now also follow the company (but don’t unfollow Mark, who will keep on tweeting away). And while […]
Experientia’s Putting People First blog has been redesigned. It is now entirely responsive, allows for easier browsing, searching, and filtering, and features larger images on the posts. The entire history of posts remains accessible as before. We are still tweaking things and welcome any feedback.
Why the world needs anthropologists – Coming out of the ivory tower Location: Padua, Italy, Centro Culturale Altinate/San Gaetano Date and time: Friday, 5 December 2014, 13:00 – 18:00 Padua, Italy, 5 December 2014 – The second edition of the international symposium of applied anthropologists attempts to erase the boundary between ‘pure’ and ‘applied’ anthropology, […]
Last year Experientia designed the interface of an ATM of UniCredit, a major Italian bank. The interface is now rolled out across the bank’s ATMs in Italy, to great satisfaction of the bank and the customers alike, since interaction speed is much faster and error rates went down dramatically. Last year UniCredit and Experientia also […]
In September 2014 Experientia gave a presentation on working as UX professionals with financial institutions at the EPIC conference in New York. The paper is now available on the EPIC site in HTML and PDF versions (free registration req’d). Abstract Application of a user-centered approach rooted in ethnographic methodologies facilitates a major European bank’s transition […]