We live in the big Data age.

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Yinhua Fund/article

The film "Penalty Gold" tells the story of how a three-stream team manager has beaten a top team with a triple-worth player. Billy, the protagonist of Brad Pitt, abandoned the traditional way of choosing a player based on subjective factors such as experience, feelings and personal judgments, but analyzed the players ' data to build a baseball-statistics model to dig out potential stars with low ratings. According to current popular parlance, Billy used large data analysis, found that the value of the undervalued players, subvert the baseball industry's traditional business model. Nowadays, in many areas, such as business, economy, decision-making behavior is increasingly based on data and analysis rather than experience and intuition. Including public health, economic development and forecasting and other fields, large data brings us a lot of unexpected surprises and conveniences, but also brings new crises and problems, for the world, a creative but full of great destructive data era has come.

The great data age-the great transformation of life, work and thinking-is recognized as the authoritative book in the field of large data, whose author Victor Maire-Schoenborg is hailed as "the prophet of the great data age". In his book, he expresses the impact of big data on people's lives, jobs and ways of thinking: "Just as telescopes allow us to feel the universe, and microscopes allow us to observe microbes, big data is changing our lives and ways of understanding the world, becoming a source of new inventions and new services, and more changes are poised to be made ....

The author expresses the three main thinking changes brought about by large data: not random samples, but all data, not precision, but confounding, not causality, but correlation. With the improvement of computer processing capacity, people have the ability to deal with massive data, which is the basis for large data to play a role. Large data does not refer to more samples, but to all data, which almost subverts the statistical principles used in the past based on sample analysis. The analysis based on all data can provide a more comprehensive and diversified understanding of all the details of the goals and help us get more detailed and accurate results. However, the sheer size of the data can result in some useless or even erroneous data entering the database, which in turn affects the accuracy of the results. So is it more important to pursue a comprehensive or accurate data? The authors point out, "only by accepting inaccuracies can we open a window of a world that has never been involved." "In Victor's eyes, this window clearly brings about a change of mindset, from pursuing causation to focusing on relationships, from studying" why "instead of focusing on what it is.

In the big data age, it is obvious that "what" is more important than "why", although this is contrary to the curious nature of humanity, but this is the effect of investment is very significant. In the field of investment, many strategies for quantifying investment are based on large data analysis. Fund managers are concerned with what policies are applied specifically in their operations, not what stocks are behind those strategies, or why they are rising.

Big Data makes our lives very convenient, for example, through our browsing habits analysis, Amazon will automatically recommend the new books we are interested in, the Japanese car manufacturers through the analysis of different people on the seat pressure data to invent car identification and anti-theft system. But, like everything else, big data gives us new risks, your browsing records, your consumer records, your social software will sell your personal information, and the big data age means a time when there is no privacy.

In any case, the big data age has come, the new way to tap the values behind the traditional, is the big data to bring us a great revelation!