Interesting read, in short according to the author the eight Big Data Myths are:
#1: It’s Big
#2: You need to apply it right away
#3: The more granular the data, the better
#4: Big Data is good data
#5: Big Data means that analysts become all-important
#6: Big Data gives you concrete answers
#7: Big Data is a magic 8-ball
#8: Big Data can create self-learning algorithms
The combination of new analytical techniques, amped-up computer power and instantaneous online resources has resulted in incredibly powerful tools that have changed the game forever. So powerful, in fact, that analytics can go beyond merely lending support to unlocking new opportunities and strategies, as well as opening up possibilities never before imagined. Big Data Myth #1: It’s Big: Big Data isn’t “big”. It is diverse. “Big” is misleading. What we’re talking about is a large volume of data points, updated at high-frequency in real-time, from various sources. It’s very granular. It’s individual transaction data; it’s a certain credit card, paying for a certain amount of gas, at a certain gas station. Big Data is actually lots and lots of very small data. It’s not a landslide of data; it’s a sandstorm.
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