Leveraging Big Data – The Dow Chemical Company
What is the most import invention of the Modern Period? It depends on your perspective. I would say Gutenberg and his innovative use of the printing press in the 1400’s. It played a key role in the Renaissance, the scientific revolution, and laid the foundation for a knowledge-based economy. Remember, for historians, the Modern Period occurred several centuries ago.
It has now been only a decade since data traffic on networks exceeded voice and that gap has grown significantly. We are very early in understanding ”What does ‘Big’ data mean?”
Within one generation, my father’s lifetime, he has experienced the transition in this country from paper-based communications to universal access of telephone, radio, television and now the internet and its social media outlets.
The reality is that in this recent phase of communications, the Internet has brought in mass participation in information creation and sharing by most of the people on the planet and now we are seeing rapid introduction of devices into the conversation as well.
“Big Data” is the market’s recognition that there is potential in this conversation and therefore, the mining and the analytical way we manage it can unlock value.
Regardless of your organization’s history or size, your future will have many more opportunities to encounter Big Data. Using and levering this Big Data in a business context will become the easy part. Advancing the objectives of Sustainable Development will be one a of business’s biggest challenges in this age of information.