So Far, Big Data Is Small Potatoes | Cross-Check, Scientific American Blog Network

From a timely big data reality check

"The economic crash of 2008 provides another reality check for Big Data. Wall Streeters have the fastest computers, most sophisticated software and biggest databases money can buy, and yet many failed to see the 2008 crash coming. The hope that Big Data will make economics and other social sciences truly scientific—that is, precise and predictive–remains, for now, a fantasy.

I assume—I hope—that our ever-improving information technologies will one day yield truly revolutionary advances in medicine, social sciences and other fields. But until that day arrives, let’s keep a lid on the hype about Big Data."

So Far, Big Data Is Small Potatoes | Cross-Check, Scientific American Blog Network