Taming the Big Data Tidal Wave

The Evolution of “Big Data”

Nothing will shape “advanced analytics” in the future as much “as the ongoing explosion of new and powerful data sources,” or big data. These new data sources have an inherent set of qualities that define them in relation to “traditional data sources.” Big data is faster, more complex and more varied than traditional data. While decision makers and record keepers generated traditional data, machines generally produce big data, which uses information technology, processing capacity and artificial memory. To leverage big data, you must sift the useful information from the trash. Big data is useful only when combined with traditional data and applied analysis.

Traditional data was structured. Most big data is unstructured or “semistructured.” To reap the benefits of this information, you must learn the logic of semistructured data and impose structure on unstructured data. As machines capture more data, companies should safeguard their data stores and be ethical about how they gather and use information. Your firm should practice self-regulation. If you capture too much data too quickly, costs may outpace benefits, and you won’t know what to...