
06200256
j
2013e.00016
Malkevitch, Joseph
More precious than gold?
Consortium, No. 103, 2533 (2012).
2012
COMAP (Consortium for Mathematics and Its Applications), Bedford, MA
EN
A30
K10
R40
data
data mining
history of mathematics
mathematical applications
artificial intelligence
probability
probability theory
conditional probability
Bayes' law
tree diagrams
mathematicians
statistics
tools of data mining
Summary: Gold has been much admired by human societies at different times and in different places. In times of economic turmoil many people invest in gold as a way to protect the value of their money In 2011 the price of gold (love that data) on some markets exceeded \$ 1900 an ounce. Black gold has been a metaphor for the importance and value of oil (which sometimes has sold for over \$ 100 a barrel) for many years now. But could it be that it will be data that will be the really valuable commodity of the future? And if so, what does that have to do with mathematics?