|
| |
Garbage in, garbage out is the observation that processes, procedures and technologies require meaningful input to produce a meaningful result. Significance Garbage in, garbage out is a rule of thumb that fights the common temptation to view technology as magic that can always produce results. Specifically, it is common for people to believe that technology can predict the future or optimize results based on data without thinking about the nature of the data or the problem at hand.
ExampleA trading algorithm analyzes streams of social media comments to try to detect information about stocks in order to execute advantageous trades. If the data in the social media stream is always meaningless chatter, it is unlikely the algorithm will perform well.|
Type | | Definition | Processes, procedures and technologies can only produce meaningful results if their inputs are meaningful. | Related Concepts | |
Statistical Analysis
This is the complete list of articles we have written about statistical analysis.
If you enjoyed this page, please consider bookmarking Simplicable.
The difference explained.
A list of common cognitive biases explained.
Simplicable is a modern encyclopedia that has been updated daily since 2010.
A list of interesting business theories.
A definition of knowledge work with examples.
A list of social processes, absurdities and strategies related to office politics.
A guide to product development.
The differences between types of knowledge.
An overview of the trough of sorrow.
A list of common business models.
A list of key marketing strategies.
A few sources of competitive advantage for businesses.
TrendingThe most popular articles on Simplicable in the past day.
Recent posts or updates on Simplicable.
Site Map
© 2010-2023 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.
|
