Friday, June 8, 2012

The New York Times: How Big Data Gets Real

How Big Data Gets Real 
 | June 4, 2012, 9:13 AM 5 Comments
The business of Big Data, which involves collecting large amounts of data and then searching it for patterns and new revelations, is the result of cheap storage, abundant sensors and new software. It has become a multibillion-dollar industry in less than a decade. Growing at speed like that, it is easy to miss how much remains to do before the industry has proven standards. Until then, lots of customers are probably wasting much of their money.
There is essential work to be done training a core of people in very hard problems, like advanced statistics and software that ensures data quality and operational efficiency. Broad-based literacy in the uses of data should probably happen too, along with new kinds of management, better tools for reading the information, and privacy safeguards for corporate and personal information.

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