Word of the Day: black swan event

Word of the Day Daily updates on the latest technology terms | August 5, 2019 black swan event A black swan event is an incident that occurs randomly and unexpectedly and has wide-spread ramifications. The event is usually followed with reflection and a flawed rationalization that it was inevitable. The phrase illustrates the frailty of inductive reasoning and the danger of making sweeping generalizations from limited observations. The term came from the idea that if a man saw a thousand swans and they were all white, he might logically conclude that all swans are white. The flaw in his logic is that even when the premises are true, the conclusion can still be false. In other words, just because the man has never seen a black swan, it does not mean they do not exist. As Dutch explorers discovered in 1697, black swans are simply outliers -- rare birds, unknown to Europeans until Willem de Vlamingh and his crew visited Australia. Statistician Nassim Nicholas Taleb uses the phrase black swan as a metaphor for how humans deal with unpredictable events in his 2007 book, "The Black Swan." According to Taleb, a black swan event is characterized by its ability to surprise the observer, disrupt the status quo and be rationalized in hindsight. Although black swan events are statistically random and cannot be predicted using computer systems or scientific method, they tend to have such a strong emotional impact that humans fully expect them to happen again. People also tend to put a lot of effort into looking back, trying to connect dots after the fact in an effort to figure out how the event could have been predicted. Instead, Taleb maintains, the time and effort would be better spent focusing on identifying what lessons have been learned and reducing the risk that a single event could have catastrophic consequences in the future. Quote of the Day "Make no mistake: A black swan event can take your company and your clients down." - Marc Langer Trending Terms inductive reasoning unknowable risk IT continuity deductive reasoning ransomware threat actor Learning Center Black swan event: Preparing for a dual ransomware attack A black swan event in the form of a dual ransomware cyberattack can shut down your business and your clients' operations. How do AI algorithms automate IoT threat detection? Due to their ability to rapidly analyze patterns in data sets, AI algorithms are becoming an integral part of the IoT threat detection process. Businesses should prepare for black swans, says resiliency consultant A black swan event is defined as an incident that occurs randomly and unexpectedly and has wide-spread ramifications, but businesses can still prepare for them, according to a resiliency consultant. Antifragile planning in network design and management Bloggers delve into antifragile network design and management, corporate acquisitions and how CISOs should manage their portfolios. The Black Swan and Climate Change A blog by Andrew Winston in Harvard Business Review has linked sustainability and climate change with the Black Swan discussed in Taleb's bestseller. Quiz Yourself Although most information breaches aren't committed _________, the effects can be just as serious as if there had been a security attack. a. purposely b. purposefully Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter This e-newsletter is published by the TechTarget network. To unsubscribe from Whatis.com, click here. Please note, this will not affect any other subscriptions you have signed up for. TechTarget, Whatis, 275 Grove Street, Newton, MA 02466. Contact: webmaster@techtarget.com Copyright 2018 TechTarget. All rights reserved.