Big Data Quotes of the Week - June 17, 2020

Euan Cameron"AI is not an install-and-forget system."Euan Cameron via Staff - The Economist (Paywall) - For AI, data are harder to come by than you think

 

Water BottleWe asked 15 top data minds for their wittiest, most interesting — or even most wrong-headed — data-related quotes overheard in their travels. Give it a read at the Virtual Water Cooler — Big Data

 


"Using data faster means treating the data as a 'database of now, the now which will become the future'. Making data smarter can be tricky, but it is worth it."
Jim Sinur - Data Decisioning - Is Your Data Smart Enough?  

"AI can do a lot. But it works best when humans are there to hold its hand."
Staff - The Economist (Paywall) - Businesses are finding AI hard to adopt

"Statistics is the science of changing your mind under uncertainty."
Cassie Kozyrkov - Towards Data Science | Medium - Don’t waste your time on statistics

"Adding causal intelligence to current AI will be necessary in order to endow machines with conscience, empathy, free will, etc."
Judea Pearl via  Robert R. Tucci - Data Science Central - Causal AI & Bayesian Networks  

"77% of banking executives believe that unlocking the value of AI will be the difference between winning and losing; 28% think AI’s top benefit is improving user experience through greater customer personalization."
Gil Press - Enterprise & Cloud | Forbes - AI News Index: Over 25% Of AI Initiatives Are In Production And 28% Have Failed

"A company’s success can be measured by the efficiency of the data it possesses."
Sphere Identity - Medium - The value of data quality

"Startups find success when they possess information unique to their industry and apply analytics to interpret and deploy that data in strategic ways. Think of analytics as a key to an undiscovered kingdom: Wielded properly, it can unlock new worlds."
Kara Baskin - MIT Sloan - Why analytics is the ‘secret sauce’ of startup success

"While there have been many methods attempted to solve the disparate data problem, a knowledge graph is the most modern and best way to harmonize enterprise data. All data, data sources, and databases of every type can be represented and operationalized in a knowledge graph."
Steve Sarsfield - Cambridge Semantics - Overcoming Common barriers to the Knowledge Graph

"Knowledge graphs are on the rise at enterprises that seek more effective ways to connect the dots between the data world and the business world. Paired with complementary AI technologies such as machine learning and natural language processing, knowledge graphs are enabling new opportunities for leveraging data and quickly becoming a fundamental component of modern data systems."
Joyce Wells - Database Trends and ApplicationsData Summit Connect 2020 Drills Down on Better Data Processes With Knowledge Graphs

"Data Office operates a central capability, with R&D wide accountability, to ensure that we harness the power of data to drive innovative science. Data Office will govern data, drive data quality and ensure our data is readied for analytics, crafting paved-paths for scientists to perform data-driven research, without compromising our legal restrictions or ethical principles."
HR Department - AstraZeneca - Data Discovery Director

"Data and analytics is a team sport ... we have to take a comprehensive approach to establish the groundwork before analytics can begin; business analysis, information governance, data collection and design, business intelligence reporting culminating in analytics."
Nicola Mallett - Essex Centre for Data Analytics - Talent wins games, teamwork wins championships

"As recently as late 2016, only 10% of organizations were using predictive analytics to inform their people-related decision-making. The 2020 report shows that as of late 2019, that number is now 39%. Furthermore, 61% of executives say using people analytics to inform decisions is the number-one human resources trend that has already delivered impact."
Tauseef Rahman & Riley Johnson - Mercer - People analytics in a time of uncertainty

"One fundamental barrier to successful use of risk management practices is that risk and risk management is a highly diverse field, and for better or worse, under constant debate and development. Moreover, decision-makers do not think in terms of risk, mostly because they have not been educated in those terms. They think in terms of cost-benefit analysis, a mental framework that is appropriated for simple short-term decisions but can lead to 'organizational myopia' to long term, more complex decisions."
Josef Oehmen, Giorgio Locatelli, Morten Wied, & Pelle Willumsena - Industrial Marketing ManagementRisk, uncertainty, ignorance and myopia: Their managerial implications for B2B firms 

Nobody knows anything... Every time out it's a guess and, if you're lucky, an educated one.”
William Goldman (1989) via William F. Meehan III - Leadership Strategy | ForbesModels Not Supermodels: Pandemic Decision-Making Under Uncertainty

"Data is just the residue of things that have already happened in the business. If those things didn't happen correctly, if those activities didn't play by the rules, then you're never going to have high data quality."
Ronald G Ross - Data Decisioning - How to Get Data to Speak the Language of Business: Discussing Business Knowledge with Ronald G. Ross

"Because of the lack of training data about past coronaviruses, explains the research, most of the predictions generated by AI tools were found to lack reliability, and results often skewed away from the severity of the crisis."
Daphne Leprince-Ringue - ZDNet - AI has a big data problem. Here's how to fix it