Ron Sandland recently wrote about the new phenomenon of 'big data' - weighing up the benefits and concerns. Terry Speed reflected on the same issue in a talk earlier this year inGothenburg, Sweeden noting that this is nothing new to statisticians. So what's all the fuss about? Here's another take on the 'big data' bandwagon.
Need to make a decision under extreme uncertainty? Click here to find out more.
Information Gap Theory (or info-gap) is a paradigm for decision-making in the face of extreme uncertainty. It's originator and enthusiastic proponent is Professor Yakov Ben-Haim at Technion - Israel Institute of Technology. You can find out more about info-gap theory at info-gap.com . Additional information (and discussion) is also available on Wikipedia (en.wikipedia.org/wiki/Info-gap_decision_theory). Info Gap is not without its critics - one of the most strident being University of Melbourne academic, Moshe Sniedovich who has set up his own website (info-gap.moshe-online.com/) in an attempt to 'debunk' the info-gap philosophy. We encourage you to read widely and make up your own mind!