Uncertainty and grey data analytics

Yingjie Yang, Sifeng Liu and Naiming Xie

Marine Economics and Management, 2019, vol. 2, issue 2, 73-86

Abstract: Purpose - The purpose of this paper is to propose a framework for data analytics where everything is grey in nature and the associated uncertainty is considered as an essential part in data collection, profiling, imputation, analysis and decision making. Design/methodology/approach - A comparative study is conducted between the available uncertainty models and the feasibility of grey systems is highlighted. Furthermore, a general framework for the integration of grey systems and grey sets into data analytics is proposed. Findings - Grey systems and grey sets are useful not only for small data, but also big data as well. It is complementary to other models and can play a significant role in data analytics. Research limitations/implications - The proposed framework brings a radical change in data analytics. It may bring a fundamental change in our way to deal with uncertainties. Practical implications - The proposed model has the potential to avoid the mistake from a misleading data imputation. Social implications - The proposed model takes the philosophy of grey systems in recognising the limitation of our knowledge which has significant implications in our way to deal with our social life and relations. Originality/value - This is the first time that the whole data analytics is considered from the point of view of grey systems.

Keywords: Uncertainty; Data incompleteness; Grey data analysis; Grey data analytics; Grey data collection (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:maempp:maem-08-2019-0006

DOI: 10.1108/MAEM-08-2019-0006

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