How to avoid the 7 most common mistakes of Big Data analysis

One of the coolest things about being a data scientist is being industry-agnostic. You could dive into gigabytes or even petabytes of data from any industry and derive meaningful interpretations that may catch even the industry insiders by surprise. When the global financial crisis hit the American market in 2008, few people predicted the sheer size of the catastrophe. Even the Federal Reserve claims that nothing in the field of finance or economics could have predicted the economic fallout from what happened with the housing market. Cashing in from the crisis Yet, a few people did. Hedge fund managers like Mike Burry (made famous as interpreted by Christian Bale in the movie “The Big Short”) were able to read the data pertaining to the subprime mortgage loans and could see the…

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