This McKinsey report (sorry you have to trade your identity to get it) calls big data “the next frontier for innovation, competition and productivity.” We can answer questions with big data that were beyond reach in the past. We can extract insight and knowledge, identify trends and use the data to improve productivity, gain competitive advantage and create substantial value for the world economy. The challenges with big data are limited compared to the potential benefits, which are limited only by our creativity and ability to make connections among the trillions of bytes of data we have access to.
Big data provides an opportunity to find insight in new and emerging types of data. How will you take advantage of this opportunity?
Personal comment: In Light of the other blogs today about more data not producing better decisions, I might disagree. But we do need to find a way to weave data (content and rights) so it becomes available. It is not about storing data………