What Is Internet of Things and How Does It Work? Big Data is quickly becoming the next big asset for many organizations. It would not be surprising for organizations to begin selling data of all types, including the metrics, knowledge, and insights gained from the data accumulated and analyzed. Riding on this wave of Big Data is Internet of Things (IoT). Technology, along with low storage costs, is making it easy for organizations to process large amounts of data; as a result, a new trend is emerging known as “capture it all.” Capture it all means collecting as much data about your customers’ product usage and behaviors as possible because the data collected may be useful in the future. At a time when organizations are seeing the benefits of Big Data, IoT provides innovative ways of capturing data that can enhance these benefits. Internet of Things is the concept that things (animals, people…
Month: July 2014
Simpson, Eh?
Continuing my series on errors in analysis, I’m going do dig into a tricky issue of correlation analysis. To picture the problem, let’s say I work at a university. It’s called Mock U. Like a lot of universities, Mock U is trying to foster a diverse workforce. In particular, we want to ensure that our faculty positions are filled by more women than men to close an existing gender gap. Let’s look at the jobs offered to applicants by gender in two colleges: Men Women Adv Hired Applied % Hired Applied % Engineering 2 25 8% 3 30 10% Business 5 6 83% 4 4 100% Are we meeting our objectives? In Engineering, 25 men applied and 2 were hired (8%). Compare that to the 3 women hired from a pool of 30 applicants (10%). The engineering college favors women in hiring. In business, 5 men were hired from among…