Opaque `black box´ culture eclipses big data´s benefits
(World News UK)

We live in a data-rich world. It’s natural to think that the more data we have, the easier it will be to do business. But big data has its pitfalls. Treat it right and it’s an immense asset – misuse it and it can ruin reputations. Elizabethan politician and philosopher Francis Bacon said “Nam et ipsa Scientia potestas est,� which neatly illustrates the benefits and risks involved. If you don’t read Latin, the data contained in that sentence is valueless. We need to know how to make proper use of that data to translate the sentence as “Knowledge itself is power.� When you’re working with big data it’s essential to get the big...