What Groupon, Facebook, and biotech firm Human Genome Sciences all have in common is they rely on massive amounts of data to design their products. That’s because we are living in an age which allows us to gather and crunch terabytes, even zettabytes of information. Doing so is what ‘big data’ is all about.
What’s the Big Idea?
Big data enables anything from predicting prices to catching criminals, and has the potential to impact many industries. Data analytics itself is not new, but in the last couple of years, computing, storage and bandwidth capacity have become so cheap that it has altered the scale of what’s possible. It’s a tectonic shift, one that will affect many things we do for decades to come.