Big Data – more than just a Buzzword
Posted 14 Jul 2016
Big Data belongs alongside popular topics such as Smart Manufacturing, Industry 4.0 and the Internet of Things, and is not just mentioned in specialized automation press. Even in newspapers and social networks, these issues are addressed and discussed.
The Encyclopedia of Business & Computer Science defines Big Data as:
“The importance of large data volumes in a variety of application areas and the challenge to be able to process this.”
The latter part of the definition is key. The amount of data being produced and used is always increasing, but by the new networked applications in the consumer sector (keyword Wearables), and of course in the industry, we are overwhelmed today by a data tsunami. According to a study by Aureus Analytics, around 90 percent of the world’s saved data has been generated in just the last two years. In 2014, 6 zettabytes of volume were produced worldwide. By 2020, the number is expected to rise to 44 zettabytes. Now is the time to take control and take advantage of these data sets. Here lies the biggest challenge of Big Data: storing data is only economically beneficial if it is analyzed quickly, comprehensively, and purposefully.
This is also important in the daily work of PR. The supplement of W&V to Dmexco 2014 presents an interesting idea, “One might think the idea of Big Data is revenge against the nerds by the creatives.” We are faced with an increasing flood of data, whether the various social media networks, which have become very important (Snapchat, Instagram, etc.), or the countless newsletters that you receive in your mailbox daily. But do not panic! We have a few tips to help you navigate your way through the jungle of data:
Big Data is more than a Buzzword. With the right analyzing tools, one must not be afraid of the flood of data, but use it as an indispensable tool.