The big problem of small data: A new approach

Big Data is all the rage today, but Small Data matters too! Drawing reliable conclusions from small datasets, like those from clinical trials for rare diseases or in studies of endangered species, remains one of the trickiest obstacles in statistics. Now, Cold Spring Harbor Laboratory (CSHL) researchers have developed a new way to analyze small data, one inspired by advanced methods in theoretical physics, but available as easy-to-use software. "Dealing with small datasets is a fundamental part of doing science," CSHL Assistant Professor Justin Kinney explained. The challenge is that, with very little data, it's not only hard to come to a conclusion; it's also hard to determine how certain your conclusions are.