Great short video by Economist’s Data Editor Kenneth Cukier on the risks and opportunities of ‘Big Data’. He gives 5 tips for businesses to consider in turning their data into economic value.
Large companies have the challenge of processing larger volumes of data and careful consideration should be given to the various options available especially given the different open source solutions available. Regardless of the scale or systems used, the value in data is less about the number crunching but the human side of creativity, intelligence, insight, risk-taking. Your data should be creating a story that communicates a message be it to your customers or providing relevant information to the various stakeholders in a business in order to aid decision making.