Big Data and the Future of Business
Here’s the thing. The centre of any commercial enterprise is information, and that will not change; however, the nature of enterprises change. As increasing amounts of data become available and in the face of big data – big changes are coming our way.
Big data is not merely a way of continuing information trends. As ActiveWizards would say – it is incomparable to any data used before. It’s like saying a sun-dial is the same as the atomic clock or like saying a supercomputer and an abacus are alike.
Today, we wield an unimaginable amount of data. But, it’s not just more quantity. It also adds a lot on the quality of what we can do with the info we get.
Sure, there are limitations to the info we can get or what we can make of it, but even with that, we can still do a lot. Politics, business, society – everything will be reshaped by big data.
The Industrial Revolution
The Industrial Revolution caused many changes in politics and made new philosophies of the economy. So, we can imagine that new movements will come to life around artificial intelligence, big data, and the web. Also, we can expect all of this will have its effect on democracy and the economy.
One big and perhaps negative change that is coming is the effect on employment. Big data will do to the white collar employees the same thing that the Industrial Revolution did to manual laborers – they will have to learn how to use this new tool to their advantage if they want to keep their jobs. Maybe certain industries won’t be able to recuperate from this advancement, but that just might be the cost of progress.
Another issue with the inevitable increase of big data will be the question of privacy. Privacy itself is a problem, even with small data; it’s now thousands of times bigger. Making personal info secure is getting more and more difficult because threats to privacy happen 1000 times per second. Also, it changes because data is being collected in an invisible and passive manner; it is a product of other services and not an active effort. When we try to imagine how the laws regarding privacy will be applied in the world of big data, we cannot. How will someone whose privacy was violated take proper legal action? How will that someone even know it happened?
That is not the worst issue yet. Privacy laws all around the world are based on the principle that once you use the data you collected for its primary purpose, you have to get rid of it. Here’s the problem – the entire point of big data is that we can save the info forever because we might need it in the future.
Everything will be reshaped by big data
This is why the changes that are coming have to be followed by changes in regulations, so the rules that govern big data are up to date with this technology.
Big data has the potential to change everything; businesses and society. We just hope that the positive sides will outweigh the negative ones.