Hal Varian: analysis is the long-term value play
Tuesday, March 18th, 2008Raw data is an increasingly abundant and inexpensive commodity. Intelligently filtering, analyzing and visually understanding data is where the value is. Palantir invents technology and products that enables human analysts to harness the power of computers in an intuitive way to quickly and deeply analyze large amounts of data.
The value of data analysis as a career was recently emphasized by Hal Varian in the Freakonomics blog in The New York Times. Hal is an internationally known economist who is currently serving as Google’s Chief Economist while on leave from his three professorships at the University of California at Berkeley.
Q: Your job sounds extremely interesting. What jobs would you recommend to a young person with an interest, and maybe a bachelors degree, in economics?
A: If you are looking for a career where your services will be in high demand, you should find something where you provide a scarce, complementary service to something that is getting ubiquitous and cheap. So what’s getting ubiquitous and cheap? Data. And what is complementary to data? Analysis. So my recommendation is to take lots of courses about how to manipulate and analyze data: databases, machine learning, econometrics, statistics, visualization, and so on. [emphasis added]

