Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Big Data
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John Moffat.
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- January 11, 2022 at 3:06 pm #645673
Tutor, I am unable to find video on Big data.
Can you please help me with this difference? I am unable to understand.
“One of the criticisms of big data is that the focus is often on finding correlations between data sets with less of an emphasis on causation. It is easier to identify correlations between two variables than to determine what is actually causing the correlation.”January 12, 2022 at 8:34 am #645722There is no video lecture – I will record one when I have the time, but given that there are no calculations involved then reading the chapter should be sufficient.
Using Big Data is looking for a relationship between various data. As a simple example, a supermarket might discover from the data that shoppers who buy pet food also buy lots of milk (and as a result they might decide to display milk near to where they display pet food).
However although there might be a link (i.e. they buy more milk because they have pets) it could just be a coincidence and it doesn’t actually prove that there is a link.
January 12, 2022 at 3:57 pm #645776Thank you tutor
January 13, 2022 at 7:55 am #645799You are welcome.
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