Three Major Trends in Business Data

By | Database Technology Trends | No Comments
I see three big changes occurring in the new world of business data. Big Data. Data sets that are too large and too complex for traditional data processing are now common, and they are becoming ubiquitous. According to Wikipedia, “As of 2012, every day 2.5 exabytes of data are created.” (An exabyte is 2.5 times 10 to the 18th power.) Personal devices, from smart phones to activity monitors, generate data on nearly all of us — our location, patterns of communication, and behavior. All of this is recorded somewhere; all of it can be processed to yield information that presents business opportunities. While data sets are getting larger, the term “big data” has come to refer not so much to the size of the data sets as their predictive power. A good analytics team can spot correlations in data that unearth business trends, prevent disease, or fight crime. What’s required isn’t processing power (although that helps), but imagination and communication. The hallmark of big data is the way it crosses departmental and disciplinary boundaries. Unstructured Data. Once upon a time you could only gather data if you created a model of your expected inputs beforehand. Such modeled data can be (more…)