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Yes, with emphasis on reliable, cleaned. That data is worthwhile because it is actionable. The value-add in FlightCaster or Fair Isaac is that it converts unact
by arohner 16y ago
Yes, with emphasis on reliable, cleaned. That data is worthwhile because it is actionable. The value-add in FlightCaster or Fair Isaac is that it converts unactionable to actionable information.
- dman 16y agoI havent used either Flightcaster or Fair Isaac extensively. A cursory glance at their websites suggests that both companies actually transform the available data substantially, almost to the point where it is fundamentally new information. Flightcaster does this with their Machine Learning voodoo, while Fair Isaac does it by summarising and analysing existing data to create a credit score / report. In either case there is a worthwhile value add. From my point of view what these two companies do is very different from Reuters and Bloomberg who take great pains to not do analysis (that would be a conflict of interest with their clients). In short - the post I replied to made the assertion that data by itself has no value. I quote - "People don't pay for data, they pay for decisions". The two examples I provided (Reuters and Bloomberg) provide merely scrubbed data, they do not provide analysis. Hence there appears to be a sizeable market for data.