Big Data: How Does Your Data Grow
Big data is more than just a buzzword that your marketing team uses in their presentation. It's a shift in the way we work and think about every part of every business in just about every industry, and it's growing. So what is big data all about and how is it going to grow in the next few years?
And more importantly, what does that mean to you?
Data Grows Exponentially
Although it's difficult to figure out exactly how much information has been accumulated across history, experts have calculated that more data has been created in the last two years that the rest of our collective past. This is naturally linked to technological advancements that have given more people more ways to create and share information, but there's more to it.
A single piece of information can open up a whole range of undiscovered data. Think of it as a skeleton key that unlocks multiple doors. The more we find the better we can use the data.
We're creating, processing, and unlocking more information at an unparalleled rate. Our data pool is getting bigger and bigger, and that will have an impact on all us, from the way we work to the way we do run our businesses.
So now's the time to understand what it means and make sure you're ahead of the game.
Unlocking the Power of Data
When you understand that data is a resource that is changing, growing, and evolving every day, it becomes more important to invest in the tools you need to extract as much value as you can from all of that information. After all, not every piece of info you come across is useful to you, and you're going to need some help to find the needles in the global data haystack.
There are loads of data and analytics software tools that can help you use all that data to your advantage, so choose wisely. It's also worth hiring a team of people who add the creativity you need to the numbers, because software can only take you so far – right now, almost nothing beats human insight and instinct.
Combining powerful software with experience makes a huge difference. Look at a company like austintec.com, a specialist recruitment company that uses innovative data targeting to find engineers and manufacturing professionals and connect them with suitable companies. Heaps of data wouldn't drive their business if they didn't have the relationships and human network needed to connect people.
Digital Data is Everywhere
The internet is one of our greatest sources of data, but the data boom goes much further than social media status updates and research papers. Every single thing you do when you're online is tracked, recorded, and processed for use later on.
Every Google Map user's routes. The kind and color of advertising banner buttons that prompts you to click. Common search terms by someone of your age who lives in your area – we voluntarily give personal data away on a daily basis, and most of the time we're not even aware that we're doing it.
From an individual perspective, it's time we all took a second to think about what we put online by keeping in mind the idea that it's all getting stored by someone somewhere. And that's not the talk of a conspiracy theorist – it's true of the digital age.
We're handing companies the key to unlock our deepest secrets.
Thankfully, businesses aren't all using the power of data for their own benefit. Big data can give companies crucial insight into waste and take steps to enhance efficiency and save money. But it's deeper than that – data has also revealed ways for entire cities to go green.
The Future of Data
With enough personal and demographic information, companies can make the lives of every consumer a little easier. In time, as the Internet of Things is finally integrated into the way we live, big data could help us plan a quicker commute, perform more effectively at the office, and pick up groceries that are packed tailored to our spending habits as soon as we walk in the door.
Grow with the curve and you'll start seeing the business opportunities and avoiding the personal pitfalls of the big data wave.
