Big Data In A Technology-Focused World

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The world has been told that the future is in big data. A big fuss has been made and steps taken to ensure its future in our technology-focused world. The word first came around in a special research report published by McKinsey and IBM around May 2011.McKinsey lay it out quite daringly, proclaiming that “leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers” as well as how big data will become the central focus in many economies, propelling ahead of and defeating the competition. McKinsey was one of the pioneers in harnessing and putting a name to big data, he goes on to explain that “the amount of data in our world has been exploding […] The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.”Today, after almost a decade after McKinsey’s projections, only 26.8% of firms that participated in NewVantage Partners 2020 Big Data and Executive Survey, reported having any kind of data aware culture. Another 37.8% reports that they are driven by data in some way …

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