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Big data or Thick data: two faces of a coin


Big data or Thick data: two faces of a coin which can be defined as follows. Big data is a term for large or complex data sets that traditional software has difficulties to process (capture, storage, analysis, curation, searching, sharing, transferring, visualizing, querying, updating, etc.). However, the term often refers to the use of predictive analytics, user behavior analytics, or certain other advanced data analytics methods that extract value from data, and seldom to a particular size of data set.…

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Lean enterprises win


Lean enterprises win: a bit more than a century ago the Norwegians conquered the South Pole while well funded and well resourced British “competitors” in the race to Antarctica all died on the way back. Lean enterprises win The Norwegian expedition leader was Roald Amundsen who had been trained by the Inuit in Canada during an epic prior expedition to the North West passage. The British team was led by Robert Scott and showed up at the South Pole 34…

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Technical session towards improving environmental social disclosure NI43-101


Below are my views of the various presentations heard at CIM2017 in Montreal, during the Technical session towards improving environmental social disclosure NI43-101. My views have been inspired by various talks, from various speakers, who shed some light on this multi-faceted theme, each one coming from his or her own line of business and interest, including myself. Technical session towards improving environmental social disclosure NI43-101 There was a broad consensus that risks are not only “technical” matters any more. The…

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Oroville Dam risks became unmanageable?


In the case of Oroville dam, the population exposed to the potential dam failure has increased significantly, normalization of deviance increased the probability of failure, so is it possible that Oroville Dam risks became unmanageable? Oroville Dam risks became unmanageable? When looking at risk mitigation the old saying is that you can either lower the probability or lower the consequences. That statement requires some explanation: what mitigation alone can do is exclusively to reduce the probability of failure ( in…

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Failures do not happen overnight


Jim Rohn’s quote “Failure is not a single, cataclysmic event. You don’t fail overnight. Instead, failure is a few errors in judgment, repeated every day” struck a chord with the recent failure at Oroville dam, as indeed failures do not happen overnight. In Oroville dam “sudden” crisis we can quote various historic deviances Oroville Dam annual inspections carried by State of California Division of Safety of Dam found water “seepage” on the face of the dam and warned about potential…

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The singularity scenario


The singularity scenario. AI becomes overnight smarter than us, we become a hazard (aren’t we already?) to our planet, generating consequences, hence risks. Machines get rid of us because of that and because we may hinder their mission. It is only a matter of point of view, right? Before that night AI was only 50% as smart than us…the giant leap is the result of exponential growth. We have all seen it happening in many fields, the latest being alternative…

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It is not necessary to invoke chaos, “complexity” and “irrational methods” to solve problems


This week we discuss why it is not necessary to invoke chaos, “complexity” and “irrational methods” to solve problems corporations and governments are facing when dealing with risks and uncertainties. A historic view In the mid-60s Peter L. Bernstein’s 1996 wrote a book entitled “Against the Gods, the remarkable story of risk” which offered a historic view of risk management and the forces which drove it. Voices have raised since claiming that accepted risk management practices have reached their obsolescence point…

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