After completing the chapter, you should be able to
Data, Data Everywhere
The past decade has been marked by an incredible growth in the collection and analysis of data. Today more and more companies are assembling large databases in an effort to learn more about their customers, their competitors, and the environment they live in. In the frenzy to mine this data bonanza, statisticians suddenly find themselves front and center. “It's like an arms race to hire statisticians nowadays,” Andreas Weigend, the former chief scientist at Amazon, told the New York Times. “Mathematicians are suddenly sexy.” (Well, that last part might be a bit of a stretch.)
How much information is out there? To answer that question, we first need a suitable ...