The Forbes post (“Speed Is Making The Market Dangerous. Nascar Shows How We Can Make It Safer.“) was about the kind of big data produced in financial markets. People are interested in that because of the perceived value in it.
But if we measure by entrepreneurial energy, especially in Silicon Valley, there is more perceived value in the new flavor of Big Data than the old. The Big Data that tracks what people do on the net.
This idea was particularly vividly stated to me by George John, the CEO of Rocket Fuel, a fast-growing Big Data science firm in the Valley. George, and his lead quant jock, Mike Benisch. Both have quant investing cred, having worked on Wall Street, and read “Nerds on Wall Street,” and they invited me over for a visit.
George’s insight is that “Big Data is the New Quant Investing,” and the more I think about it, as a longtime quant investor, the more I think George is right.