Chris Wood, Santa Fe Institute, writes on the impact big data is can could have and whether or not we should embracing it with open arms or holding it at a distance:
What do the National Security Agency, the National Science Foundation, Google, Netflix, Amazon, and even your local grocery have in common?
Big Data, that’s what.
Big Data is a loose term for the collection, storage, and sophisticated analysis of massive amounts of data, far larger and from many more kinds of sources than ever before. Organizations like those above, and more every day, are collecting and analyzing the myriad electronic bread crumbs we generate in our daily activities, and they’re exploiting that data to predict our actions and behaviors to help accomplish their objectives.
The Economist recently enthused: “Big data is the electricity of the 21st century – a new kind of power that changes everything it touches in business, government, and private life.
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