Big Data Analytics

Introduction • 11

e term, which he uses to describe an unforeseeable event, as opposed

to just unforeseen, derives from the idea that if one conceives of the color

white as being an intrinsic aspect of a swan, then nding a black swan is

an unforeseeable experience that renders that expectation untenable. e

Black Swan is a therefore a shock. e 1987 stock market crash and the

terrorist attacks of September 11 are large-scale Black Swans, but smaller

Black Swans happen to us in our personal lives and with our businesses.

Taleb is talented at bringing concepts into focus through the skillful use

of examples. In this case, his example is of the comfortable turkey raised

on a farm. He is fed, gets fat, projects ahead, and feels good about his ...