The Paradox of Big Data

Economics Department, Working Paper Series from Economics Department, Pomona College

Abstract: Data-mining is often used to discover patterns in Big Data. It is tempting believe that because an unearthed pattern is unusual it must be meaningful, but patterns are inevitable in Big Data and usually meaningless. The paradox of Big Data is that data mining is most seductive when there are a large number of variables, but a large number of variables exacerbates the perils of data mining.

Keywords: data mining; big data; machine learning (search for similar items in EconPapers)
Date: 2019-01-01, Revised 2019-06-04
New Economics Papers: this item is included in nep-big, nep-cmp, nep-ecm and nep-pay
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