A recent
story in the New York Times discussed an
issue that comes up over and over again – will data and
technology replace the human being? Or is the intuitive
side of human nature something that can’t be replicated,
no matter how much data is generated and number
crunching is done?

Nobody
argues that today’s technology-driven society produces
more available data than ever before. We leave
electronic footprints everywhere we go – whether it is
through online browsing, retail purchasing, or cell
phone usage. Just about everything we do leaves data
points. This collection of “big data” is driving a lot
of innovation and is a big topic of discussion among
investors.

One would
think that being able to process all of this data would
reduce the need to use human intellect for prediction
models. However, what researchers seem to be finding is
that this isn’t quite true. While the ability to amass
and analyze vast amounts of data effectively is
certainly a step forward, the human element must still
be involved.

In fact, one
scientist quoted in the article suggested that one could
fool themselves with big data in a way that couldn’t be
done otherwise. It turns out that this industry needs
qualified human beings in a critical way. While machines
may be able to crunch numbers that would take a human
millions of years, they can’t provide the crucial human
intuition that can guide and evaluate questions and
answers.