In 2013, it was discovered that 90% of the world’s data were created in the previous two years. I can only imagine how much faster the speed of information is these days.
Most decision makers, though, process information just as they did 20 or 50 years ago – on paper, in bite-sized pieces. Some might claim that current decision makers, at least in politics, are less capable now at processing complex, high-dimensional information.
What’s the impact of this imbalance? It’s easy to speculate, but I think there’s an argument to be made that one key outcome will be instability.
With the addition of new data, at speed, the existing volume of information increases along with the difficulty of comparability. The likelihood of multidimensionality increases. The aggregation (or dimensional reduction) problem gets harder.
We can hope that machine learning and mining technologies, probably fueled by AI, will save us. But I’m skeptical. Instead, I think it’s likely that instability increases. And that the demand for low-dimensional “rules of thumb” increases. And that the probability of failure of those rules also increases – if only because high-speed data means the world is changing quickly.
Maybe I’m wrong. Comments are closed but feel free to correct my thinking on Twitter at @abwhitford.