When small data beats big data

• Published in: Statistics & probability letters Vol. 136; pp. 142 - 145
• Main Authors: Faraway, Julian J., Augustin, Nicole H.
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.05.2018
• Subjects: Big data; Small data; Small data; Big data

Small data is sometimes preferable to big data. A high quality small sample can produce superior inferences to a low quality large sample. Data has acquisition, computation and privacy costs which require costs to be balanced against benefits. Statistical inference works well on small data but not s...