October 1, 2013
1 minute read
Big data is developing to the point where those not contributing to its growth could become worse off in life, it has been claimed.
Jessica Leber, who is assistant editor at Co.Exist, has explained the possible disadvantages of not releasing data to be used by businesses.
Writing for fastcoexist.com, she went as far as claiming this could have a big impact on society as a whole.
She said: “Using digital data to make predictions, retailers are deciding where to open new stores and set prices, businesses are designing new products, politicians are setting their voter turnout strategy, and analysts are figuring out how diseases spread and terrorists move.
“It could restructure societies so that the only people who matter are those who regularly contribute to the right data flows.”
The blog post certainly highlights the improved extent of which big data can be utilised. Retailers not seizing the full potential that big data has to offer are missing out on a great opportunity to understand and enhance their customers’ experience and maximise the return from the relationship.
Big data has been tipped to reach 40 zettabytes in size by 2020, which is a 50-fold growth when compared to ten years earlier. An article from telegraph.co.uk has predicted that this tremendous pace at which big data is moving will create a huge skills gap in the coming years.