We still struggle with organizing new databases chunks of data at a time

We still struggle with organizing new databases

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Transition from paper and server processing to Excel, etc. We still struggle with organizing new databases (chunks of data at a time) o Embrace the Madness Data can (and will) make you crazy You need to get to know the data (what is junk, biases, duplicates, etc.) o It Needs Humans Between data and real knowledge sits people… And these people have intuition, passion, and time o Don’t Torture the Data…Ask Nicely How did big institutional investors respond to the financial crisis? It all starts with great questions Big data is like teenage sex everyone s talking about it, nobody knows how to do it, and everyone thinks everyone else is doing it, but nobody is. The Value of Information Gumball video Massive immigration can help reduce world poverty o Desperately poor in the world make less than $2 per day In Africa 650 million people In India 890 million people In China 480 million people Rest of Asia 810 million people Latin America 105 million people o All told, there are 3 billion people in the world who are desperately poor o Every year, we take 1 million and suggest that we make a difference But we don t take the poor ones we pull our immigrants from the better off poor ”… like Mexico 5.6 billion people live in countries that have average incomes less than Mexico Somehow we re tackling world poverty
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Svac 18 And each year, they add 80 million people into the impoverish nations We can t make a noticeable difference but we may be hurting the rest of the world because we re taking the ones who are fighters/intelligent and can make a difference if they stayed. o Our immigration system gives them the belief that they should abandon their countrymen We can never get ahead of what s happening in these other countries. o They have to be helped where they live (99.9% of them will never be able to immigrate) Machine Age General Purpose Technologies o Steam Engine Age o Electricity Age o Computer Age Today: Productivity is High, but more Americans are unemployed and have less income o Machines can now learn and replace people in new and different ways o Millions of people are disillusioned as technology is leaving them behind Decoupling of productivity from Employment o Traditional Economics says that employment and productivity are positively correlated. Brynjoffsson argues that this is no longer true… instead, computing technology enables exponential growth in productivity Learn to Race with the Machine o Individually, we both can accomplish a lot o Combined, we are more powerful than either system individually. o Run with technology, instead of against it. Three Pillars of IT Growth o Digital once a good can be digitalized, it can be replicated with perfect quality, distributed with minimal costs, and results can be easily measured o Exponential IT has been exponentially improving over the past several decades, meaning the rate of growth itself is improving.
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