Agent-Based Modelling as a Foundation for Big Data
In this article we propose a process-based definition of big data, as opposed to the size - and technology-based definitions. We argue that big data should be perceived as a continu- ous, unstructured and unprocessed dynamics of primitives, rather than as points (snapshots) or summaries (aggregates) of an underlying phenomenon. Given this, we show that big data can be generated through agent-based models but not by equation-based models. Though statistical and machine learning tools can be used to analyse big data, they do not constitute a big data-generation mechanism. Furthermore, agent-based models can aid in evaluating the quality (interpreted as information aggregation efficiency) of big data. Based on this, we argue that agent-based modelling can serve as a possible foundation for big data. We substantiate this interpretation through some pioneering studies from the 1980s on swarm intelligence and several prototypical agent-based models developed around the 2000s.
Item Type | Article |
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Keywords | Big Data, Swarm, Prediction Markets, Information Aggregation, Agent-based Models, Abduction |
Departments, Centres and Research Units |
Institute of Management Studies ?? SEA ?? |
Date Deposited | 06 Oct 2017 13:09 |
Last Modified | 26 Feb 2024 13:13 |