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Big Data & 2020 trend report
7:07 PM
Topic:
Big
data is increasingly
available to improve work or life in a wide range of areas (healthcare,
productivity, financial management, etc), but it’s difficult for normal people
to understand what it means. As a result, they are less likely to pay attention
to information that could be very valuable to them.
Before I address
the 2020 trend report, I first want to explain my understanding of this topic.
What is big data? Why do people need to bring up this concept?
People come up
with a name to a thing or phenomenon because it is new and there is nothing
already existing that can include all its features. If big data is a totally
new concept, what is it? Data is a thing we’ve known for a long time, since the
digital era. Now, the torrent of data floods our world everyday, which is also
woven into every sector and function of our global world. However, this kind of
ongoing information explosion is totally predictable. The reason why we bring
attention to this concept and try to distinguish it with small data, is because
it becomes a big competitive advantage to economy and business.
“The use of Big
Data — large pools of data that can be brought together and analyzed to discern
patterns and make better decisions — will become the basis of competition and
growth for individual firms, while enhancing productivity and creating
significant value for the world economy by reducing waste and increasing the
quality of products and services.”
—— WHY BIG DATA IS THE NEW COMPETITIVE ADVANTAGE
by Tim McGuire, James Manyika, and Michael Chui
2020 Trend and Big Data
Now we can go back
to the initial report. There are two trends directly related to the big data
phenomenon. The first one is social trend - Social networks fuel the
participation. The other one is tech trend - Data is critical for
competitive advantage.
About the first
one, since web and mobile platforms are easily accessible, all your opinions
can be heard by the whole world in just a click. And because of its promptness
and pervasiveness, it produces way more data than the real world. Or we can say
the virtual world has melted with reality, and they combined together forming a
big data producing, exchanging and influencing net. With increasing diversity,
online becomes less different than offline, or even more powerful. That short
time positive outcome is the main reason people keep using web media, and lead
to big data.
The second trend
(tech) is the reason why big data becomes the hottest keyword for business. The
analysis of big data is a method to solve the problems caused by the openness
of the internet or is an attempt to use computers to battle the data explosion
we’ve caused with other computers. According to the report, the market research
firm IDC projects that in 2020, the world will generate 35 zettabyte of data in
just one year. And how much data will the research firm produce? Is it going to
be an endless infinite loop? Maybe the world will never know….
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