The big data Wild West: The good, the bad and the ugly

rmbohanek:

Great thoughts about the promise of Big Data. Just be sure you know where your data comes from, and how others are using the data they are getting from you. Do right by your users and they will do right by you.

Originally posted on Gigaom:

Big data has reached a critical stage. The market is poised to grow to more than $50 billion by 2017, but more than 55 percent of big data projects fail.

With so much opportunity coupled with hype and misinformation, we are in the midst of the big data Wild West. There is a standoff coming between those that understand what big data is — the ones making investments to collect, store and harvest it — and those that are buying snake oil and don’t understand how big data can impact their business.

The good

Big data allows you to fail. This may sound counterintuitive, but when it comes to big data, there’s good failure and bad failure.

Confused? Here’s an explanation: Big data, in its raw form, allows for a “test and learn” approach. Companies have to create many small “failures” by developing hypotheses and examining them against the data. This allows…

View original 863 more words

About these ads
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s