Have you got Black Swans Swimming in Your Big Data? 13 Business Phrases Explained
9/11, Hurricane Katrina, the 2008 credit crisis, the BP Gulf oil spill in 2010, and the Japanese earthquake and resulting tsunami that put the Fukashima nuclear facility offline. These are all recent examples of what are known as Black Swan events, incidents that occur randomly and unexpectedly and have wide-spread ramifications. Black Swans are a hot topic for business too. The term puts a face on the type of event that companies fear most – the ‘ Unknown Unknown ’ that, despite all of the preparations that might have been made, organizations are still taken by surprise and often shaken to their core. Read the full article here ExpresionsANDmeanings: 1- The black swan theory or theory of black swan } Events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. (in other words = understanding of a situation or event only after it has happene