Friday, May 31, 2013

Big data, big problems? Nate Silver explains why we need better habits for weighing up information in this data-rich age - video

http://www.guardian.co.uk/media-network/media-network-blog/video/2013/may/30/nate-silver-data-video

Nate Silver, statistician, writer, and founder of The New York Times political blog FiveThirtyEight.com argues that we need better habits for weighing up information to inform our decisions. He cites Google's Flu trends, the AP's hacked Twitter account and the subsequent stock market dip, as well as the use of polling data in the media as prime examples of this need. To account for subjective views and biases, Silver says you need a systematic method for accounting for large amounts of information in order to understand the full picture and make better decisions.