How to Become a Wealthy Philanthropist
One of the great misnomers held by those who struggle financially is that much investing is just another form of gambling.
It is false and foolish to think this way. The fact is the more progressive a thinker a person is the more they need to seek wealth if only to serve others. The fastest way to “Think and grow Rich” is through the effective use of big data.
Challenges include capture, storage, analysis, data curation, search, sharing, transfer, visualization, querying, updating and information privacy. The term “big data” often refers simply to the use of predictive analytics, user behavior analytics, or certain other advanced data analytics methods that extract value from data, and seldom to a particular size of data set.
Ultimately the most effective investors deal with endless sets of data and have the unique ability to know which of these sets is most important for creating wise and profitable investments.
Big Data is term that has been in use since the 1990s, with some giving credit to John Mashey (born 1946) the pioneering US computer scientist, and entrepreneur for coining or at least making it popular. Big data usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage, and process data within a tolerable elapsed time. Big data “size” is a constantly moving target, as of 2012 ranging from a few dozen terabytes to many petabytes of data. For the investor as well and as problem solver Big data requires a set of techniques and technologies with new forms of integration to reveal insights from datasets that are diverse, complex, and of a massive scale.
Clearly, the quantities of data now available are massive, however the most relevant characteristic of this new data driven reality is that the efficient exploration of data sets can find new correlations to isolate business trends and well as patterns in various commercial markets. The best and most consistent investors can transcend problems tied to large data-sets in areas as diverse as pattern language in internet search, finance, and business informatics. Accessing these complex data sets is fairly easy and a skilled investor can so with common off the shelf technology, open source Apps and other simple tech hacks. Though it is true that data sets grow rapidly much of this growth is fed through the use of cheap and numerous information-sensing mobile devices, aerial (remote sensing), software logs, cameras, microphones, radio-frequency identification (RFID) readers and wireless sensor networks. These tech tools as well as those still to be developed have created a tech-fed information reality where the world’s technological per-capita capacity to store information has roughly doubled every 40 months since the 1980s; and is likely to increase in speed in the future. To master this growth is to see where the money is.
Though the tools exist to make extremely accurate investments for even a beginner they must go beyond the traditional tools that a typical say trader might use. Relational database management systems and desktop statistics- and visualization-packages often have difficulty handling big data. The work may require “massively parallel software running on tens, hundreds, or even thousands of servers”. What counts as “big data” varies depending on the capabilities of the users and their tools, and expanding capabilities make big data a moving target.
This is where High Tech Investment Groups (HTIG) can be of great value. Here a group of individuals meet for the purpose of pooling money and resources and investing while accessing big data analytics to do so. These groups represent a collaborative process where members access information that none of them could have access to working alone. In these members typically meet on a periodic basis to make investment decisions as a group through a voting process and recording of minutes, or gather information and perform investment transactions outside the group. Investment clubs provide members a means to learn about markets, while meeting and working with people who have similar interests. For some of these groups, facing hundreds of gigabytes of data for the first time may trigger a need to reconsider data management and investment options. For others, it may take tens or hundreds of terabytes before data size becomes a significant consideration. A community of skilled investors can transcend this limitation even if they begin with limited financial resources.
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Lewis Harrison – RealUGuru, is a writer, mentor, success and wealth coach, content-rich, motivational speaker, and an entrepreneur specializing in problem solving and strategizing based on game thinking, applied game theory and Game Thinking.
He is the author of over twenty-two books published in five languages.
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