Showing results for "Data Science and Analytics" in Engineering

Explosion of the economic relevance of data is related to: first, technological progress that has drastically reduced the costs of collecting and storing data; second, the advances in analytic techniques that have allowed for more advanced processing to extract greater value from available data. So, more value is extracted from exhausted data. Information generated for one purpose can and should be reused for another one, which means that data moves from primary to secondary uses. Data are more valuable over time.

Innovation influences the market and its operators, especially about competition conditions. One of the most significant technological advances relates to the possibility of capturing a huge amount of information and processing them rapidly: two of the main features that make up the phenomenon known as big data. This not only entails the emergence of specialized operators in these activities, but also makes a "data economy" possible.

The Age of Prediction is about two powerful, and symbiotic, trends: the rapid development and use of artificial intelligence and big data to enhance prediction, as well as the often paradoxical effects of these better predictions on our understanding of risk and the ways we live. Beginning with dramatic advances in quantitative investing and precision medicine, this book explores how predictive technology is quietly reshaping our world in fundamental ways, from crime fighting and warfare to monitoring individual health and elections.