Saturday, June 4, 2011

Data vs. Information (round 2)

Convenient to this week's blog theme on "Data vs. Information", The Economist published a post by Joseph Schumpeter on the issue of rampant growth in data and what mountains of data mean for business decisions. The entire article is worth reading, but the following quote struck me as particularly well-written:

The sheer size of today’s data banks means that companies need to be more careful than ever to treat data as a slave rather than a master. There is no substitute for sound intuition and wise judgment. But if firms can preserve a little scepticism, they can surely squeeze important insights from the ever-growing store of data.

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