The diminishing value of a data set
Source : worth observing that this Dilbert was 1993 !!!! Radar and sonar are incredible inventions as they allow us to perceive what cannot be actually seen with the naked eye. As technology has advance and big data analysis has emerged we have gone from a simple echo to high-quality resolution. However, the peak value for Radar is that it informs you something is there which requires low resolution and very little data. As Radar resolution has improved we can get direction and speed which requires a little more time. This new information definitely adds value to any required reactive decision. The identification of what the actual object is through increased resolution has an incremental value but not as much as knowing it is there and what direction at what speed but such information can lead to a better decision but suddenly there is an economics of cost compared to the incremental improvement in outcome. Knowing what type of bird by species or wh...