It seems that lately, our culture is throwing a “Datapalooza” party. Big Data revenue is estimated to reach $53.4 billion by the year 2017 while the 2013 SAP report cites there will be an estimated 50 million things connected to the Internet in the next seven years. Today, the average American household has 5.7 Internet connected devices and a whopping 6% of American households already own 15 Internet connected devices or more. My premise is that the 6% currently represents the early adopters but can soon symbolize the adoption curve will reach the masses. Thus, the future will be driven by Big data propelled by the invisible Internet we inhabit; and like it not, Big Data will only get bigger.
A BLINDING WORLD OF TECHNOLOGICAL CHANGE:
- BIG DATA, what is it? It’s the merging of the Internet, digital recording technologies and a profusion of small-scale wireless sensors creating an exponential increase in stored data
- New devices, new programs and new infrastructures all rising up, with little time to comprehend their intent or their meaning.
THE ERA OF BIG DATA HAS ARRIVED:
- Walmart handles 1m transactions per hour
- Google processes 24PB of data per day
- At&t transfers 30PB of data per day
- 90 trillion emails are sent year
- World of Warcraft uses 1.3PB of storage
THE END OF BUSINESS AS USUAL…
- Transformation of Retail: We’ve gone from “Big Deals” and “Sales” to Data driven pricing recommendations
- Transformation of Online marketing: from gathering leads to leveraging the cloud (salesforce), google analytics, social media (Twitter and Facebook)
- Transformation of IT: from logging files to optimizing operational intelligence
- Transformation of Law Enforcement: from getting a call from 911 to google crime hotspot prediction models
TEACHING A COMPUTER HOW TO DRIVE:
- The Idea: Google is combining big data and real time analytics to create the first driverless car
- The challenge: Cars are still cognitive little kids but soon they will process algorithms as fast as the human brain
- The opportunity: Imagining the car as a platform rather then an individual vehicle just like Apple did with iTouch/iphone/ipad- think of the value for humans…
CAN IT ELIMINATE DOUBT AND REPLACE OUR UNDERSTANDING OF THE WORLD?
- Not quite so… but it’s not a fad either
- Data has no voice, it takes human insight and intuition to uncover a cause
- You need a model and context in which to interpret the data
- Lastly, data needs imagination for without it- its useless… could have Big Data created DISNEYLAND???