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Ranadivé argued that we ought to put the economic data that the Fed uses into a big stream, and write a computer program that sifts through those data, the moment they are collected, and make immediate, incremental adjustments to interest rates and the money supply.
The major challenge in those areas is that interpreting such a big stream of data requires a deep understanding of context where each activity occurs.
Experimental results on a massive dataset of real credit card transactions show that this framework is scalable, efficient and accurate over a big stream of transactions.
If it were up to them, we'd all buy one magical pipe that gives us 100 channels (say for $60) and another pipe that gives us high-speed internet ($50), and never know that in fact, it's all a big stream of 1s and 0s coming from the big digital content provider in the sky.
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Two years ago there was a trickle; last year it was a bigger stream of water.
While there are plenty of new standard format efforts (and new efforts seem to launch every other day), there hasn't been a best practice decision made by the key influencers (eg. FriendFeed – a bigger stream aggregator) and developers to force the issue.
In order to achieve good price-performance ratio, one needs to have a relatively big stream of data, which is usually the case.
The dataflow paradigm offers both better bandwidth and better computing performances, but only if one provides a relatively big stream of data.
These data often arrives unboundedly and rapidly, which forms a new class of data called "big stream data".
"Obviously, it's not a big income stream," she says.
"I know it's a big revenue stream for the Postal Service, but to justify this kind of waste because it supports jobs is insane," said Mr. Watson, who noted that junk-mail reduction was hugely popular with voters.
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CEO of Professional Science Editing for Scientists @ prosciediting.com