IT was big data's big moment.
The most unfathomable US presidential race in memory gave Predata, a startup firm backed by hedge fund manager Kyle Bass, a chance to cut through the vitriol and coolly calculate the winner by monitoring chat data. Turns out that Predata, which anointed Hillary Clinton the likely victor days before the Nov 8 vote, was no smarter than the cable news pundits.
The bad call is a reminder of the pitfalls hedge funds face as they try to profit from a world awash in data. After years of sluggish returns, firms seeking fresh ideas are joining the data revolution, tapping the torrent of social media, satellite and personal information already used by airlines to forecast ticket...
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