Collecting everything would never be the optimum strategy and apparently the least meaningful one economically.
For the unexpected extra values from history data, the possibility that the return value is greater than the associated total cost doesn't necessarily increases with the dataset size. If we look at the trends for history things, only those with scant availability and high quality will be of real values.
I agree with the author that a better strategy would be to start with some unique and useful questions, store data for a purpose (insight).
Asset or liability? It is not a black or white thing, it is a scale depends on the information value and fidelity. In information theories, the information quantity (entropy or bits) is inverse proportion to the available possibility.
For the unexpected extra values from history data, the possibility that the return value is greater than the associated total cost doesn't necessarily increases with the dataset size. If we look at the trends for history things, only those with scant availability and high quality will be of real values.
I agree with the author that a better strategy would be to start with some unique and useful questions, store data for a purpose (insight).
Asset or liability? It is not a black or white thing, it is a scale depends on the information value and fidelity. In information theories, the information quantity (entropy or bits) is inverse proportion to the available possibility.