Is your road closed to the important rivers of data, information and knowledge flowing by?
You ignore Big Data at your peril, make it the best thing that ever happened
Innovation surrounding Big Data is happening quickly. It is now laying the foundations for the next generation of enterprise business growth. It will be the new battleground. Never before have we had so much data at our disposal. It’s being generated at a staggering rate and it’s now arriving from all directions.
You could liken big data to a large river in flood, flowing right past your organisation. In that river is all the information and knowledge you need to be designing your business or organisation. However, there will be some issues you need to address:
You will need to become involved with big data because it is in your best interests. You could liken big data to a large river in flood, flowing right past your organisation. In that river is all the information and knowledge you need to be designing your business or organisation for now and for the future. However, there will be some issues you need to address:
- What will you use to capture what you need as it flows past?
- Your ability to recognise the right information and knowledge at the right time.
- How will you sort and manage the increasing flow of data?
- You don’t need mush, so let the rest keep flowing down the river.
Take time to assess what information and knowledge you need across the entire organisation. It’s not much good just focusing on one area that you like. Put all the information and knowledge you gather into a knowledge base and make it available across the business. There are now many information technology applications that can help you with this.
“The goal is to turn data into information, and information into insight”. Carly Fiorina
Don’t let the size or numbers frighten you. In a recent lecture at Harvard University neuroscientist Jeff Lichtman, who is attempting to map the human brain, has calculated that several billion petabytes of data storage would be needed to index the entire human brain. The Internet is currently estimated to be 5 million terabytes (TB) of which Google has indexed roughly 200 TB or just .004% of its total size. The numbers involved are astounding, especially when considering the size of the human brain.
The numbers involved are astounding, especially when considering the size of the human brain and the number of neurones in it. So when it comes to designing our organisations we have plenty of brain power, we just have to use it better. Making good use of the data flowing past is critical, simply because your competitors will be doing it.
Your competitive advantage could well be tied up in how you utilise big data. Whatever you do will require data, information and knowledge because these three things lead to wisdom, an important design input.
Businesses success now hinges on harnessing data understanding, advancing analytics and making informed decisions. The Internet of Things (IoT) world is also expanding exponentially, connecting all manner of devices to a ubiquitous network.
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Be careful reading the signposts associated with Big Data. They might just inspire you to do things you dreamed of doing, they might help you succeed and might even make you happier.
Big Data means different things to different people and there isn’t and probably will never be a commonly agreed definition out there in the market. But the phenomenon is real and it’s producing benefits in so many different industries and small enterprises.
I believe we are living in the most exciting times. Times full of the promises of progress, where the exponential pace of technological change is both frightening and enlightening. Above all, I like the promise the future has for small-medium businesses, non-profit organisations and regional and remote communities of all shapes and sizes.