Big Data Challenges and Concerns (PowerPoint PPTX)

This document is a part of the Big Data Primer containing 7 chapters providing Overview of Big Data, its dimensions, ecosystem, applications, challenges & concerns, sentiment analysis and Gamification.
In the fourth chapter titled "Big Data Challenges and Concerns " following content is discussed -
Can we trust Big Data?
When correlations are good and when not?
Big Data Privacy Concerns
Facebook & Big Data

This presentation delves into the intricacies of airline pricing, highlighting the volatility and unpredictability of fare changes. It underscores the importance of understanding the dynamics of fare fluctuations and the limitations of online travel agencies in setting prices. The PPT also explores a predictive model based on extensive price observations, emphasizing the practical application of big data in real-world scenarios.

The Lipstick Index is another fascinating topic covered, illustrating how seemingly unrelated data points can serve as economic indicators. This section provides insights into consumer behavior and economic health, using historical data to demonstrate the reliability of unconventional indicators. The discussion on correlations, such as the number of drownings and film appearances, challenges the reader to critically assess the validity and relevance of data correlations.

Privacy concerns are thoroughly addressed, with a focus on the types of protected information and the principles of consent and access. The document discusses the implications of selling data to advertisers and the ethical considerations surrounding facial recognition technology. It also examines the legal landscape, questioning the legality of data usage practices by major corporations. This comprehensive analysis equips executives with the knowledge to navigate the complex world of big data responsibly.