From 'Big Data' to 'Smart Data': Algorithm for Cross-Evaluation (ACE) As a Novel Method for Large-Scale Survey Analysis
International Journal of Transitions and Innovation Systems, Forthcoming
37 Pages Posted: 26 Oct 2017
Date Written: October 21, 2017
Current research is increasingly relying on large data analysis to provide insights into trends and patterns across a variety of organizational and business contexts. Existing methods for large-scale data analysis do not fully capture some of the key challenges with data in large data sets, such as non-response rates or missing data. One method that does address these challenges is the SunCore Algorithm for Cross-Evaluation (ACE). ACE provides a view of the whole data set in a multidimensional mathematical space by performing consistency and cluster analysis to fill in the gaps, thereby illumining trends and patterns previously invisible within such data sets. This approach to data analysis meaningfully complements classical statistical approaches. We argue that the value of the ACE algorithm lies in turning “big data” into “smart data” by predicting gaps in large data sets. We illustrate the use of ACE in connection to a survey on employees’ perception of the innovative ability within their company by looking at consistency and cluster analysis.
Keywords: statistical modelling; statistical algorithm; survey analysis; consistency analysis; cluster analysis; data trends; data patterns; data correlation; non-ignorable missing data; non-response missing data; cross evaluation; big data; smart data; innovation survey; food processing company
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