“But because Big Data requires companies to accumulate increasing amounts of data, even free software like Hadoop is causing companies to spend more money. According to Rubin, whose clients include several of the world’s largest banks, many CIOs believe data is inexpensive because storage has become inexpensive. But data is inherently messy – it can be wrong, it can be duplicative, and it can be irrelevant – which means it requires handling, which is where the real expenses come in. “The cost of more data is the application and the computing power and the processes to reconcile all these things,” Rubin said.”
“Much recent research about decisions helps us understand what we should do or how we should do it, but it says little about when,” he says.
In his new book, Wait: The Art and Science of Delay, Partnoy claims that when faced with a decision, we should assess how long we have to make it, and then wait until the last possible moment to do so.