How could Big Data help the art market?

How could Big Data help the art market?(#2)

 https://www.sbs.ox.ac.uk/news/how-could-big-data-help-art-market

The development of science and technology is of great significance to the history of modern art. There seems not much connection between science and art, just like two parallel lines. However, looking back on history, the influence of science on the development of art has a deep origin. For example, during the Renaissance, artists used optical instruments to help with painting. The technology was an aid tool for people’s creation, in the past. Now, artificial intelligence technology can start simple creation, and even imitate the style of an art master.
In the art market, buyers and sellers are mostly collectors. They collect artworks of a specific theme or artist. By contrast, some collectors gather different and various kinds of paintings and sculptures, to help the creators. 
According to the article, Benventise evaluates the state of the art market by the ‘Four Vs of Big Data’. Four Vs stands for volume, velocity, veracity, and variety. The most challenging factor is the variety since a single artwork could have thousands of vulgos, not only the works, the creators could have different alias. Disunity is the main reason why it is hard to digitize and collect them in a well-organized way. The system will be inefficient if it is based in a chaotic and decentralized data.

Most time, art is subjective, but there are still standards to judge the quality of artworks. If the argument holds, investors can build up some common strategies and indexes to analyze the works of important artists in history. Now, the amount of data is larger, and no longer possible for manual analysis to load, so the algorithm becomes very important.

Comments

  1. Efia D0569952June 25, 2020 at 5:55 AM

    Majority of people believe that science in an exploration of the world around us in order to find the universal truth and that science is used to understand the external reality while art is used to understand the consciousness. I agree with that to a certain extent, but I also think that art and science are very closely related. In their essence, both of them are human attempts to describe the world around us. Even though, the methods have different traditions, I still think the motivations and goals are fundamentally the same. Science is more exact while art is abstract. In art, it all depends on the perception of a spectator or observer. That is why the price for a specific piece of art can escalate quickly. I am not a big fan of art, but I can appreciate its importance. Historically, many artists used numbers while they were making their creations. Most of the sculptors follow similar patterns when it comes to their sculptures. The ratios and proportions of some parts of the sculptures tend to be the same. Even painters would use some big data knowledge to start off their paintings. There are even some artists who believe that everything on this planet could be said through the numbers and big data science, so they believe their art should be made of and should reflect the importance of the numbers. To better understand art and their methods, we should try to explore a variety of artists to have a final conclusion.

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