12-05-2013 11:57 AM
Hello. These are broad questions. In my opinion, statistics can provide insight to help decision making under uncertainty. I don't think the insight is always the same as the answer to the decision. That's because correlation doesn't always imply causation.
As for "Big data", I do think it can yield meaningful insights not possible with sampled data. But "due diligence" can't be ignored. Steps to clean up the data and select meaningful variables should be performed to ensure credibility.