88. Is more data always better?

I’m reading a book by an economist, and at one point, she says that more data is always better.

But is it?

More bad data is not better. You can look at methodology and sort out the bad data for the good data, but sometimes that’s hard. And good studies can lead to the wrong conclusions.

More data can also be more overwhelming. It takes time and energy to sort through all that data.

More data can lead to decision paralysis, as you are constantly looking for more data to try to figure out the best option, when it doesn’t really matter.

More data can be mean time wasted on studying things that don’t really matter. Or time wasted in reinforcing already establish conclusions.

Adding more and more data and details to a model can make it overly complicated and lead to incorrect conclusions.

So more data can be better sometimes, but not always.

1 comment

  1. I’ve found myself trying to book a hotel and reading so much data on everything it is ridiculous. I have to tell myself, book the hotel already, it’s a night not your dream home. So yes there can be too much data.

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