Original Source: MIT Technology Review
“Big Data is revolutionizing 21st-century business without anybody knowing what it actually means. Now computer scientists have come up with a definition they hope everyone can agree on.
One of the biggest new ideas in computing is “big data.” There is unanimous agreement that big data is revolutionizing commerce in the 21st century. When it comes to business, big data offers unprecedented insight, improved decision-making, and untapped sources of profit.
And yet ask a chief technology officer to define big data and he or she will will stare at the floor. Chances are, you will get as many definitions as the number of people you ask. And that’s a problem for anyone attempting to buy or sell or use big data services—what exactly is on offer?
Today, Jonathan Stuart Ward and Adam Barker at the University of St Andrews in Scotland take the issue in hand. These guys survey the various definitions offered by the world’s biggest and most influential high-tech organisations. They then attempt to distill from all this noise a definition that everyone can agree on…”
http://www.technologyreview.com/view/519851/the-big-data-conundrum-how-to-define-it/
Contributors: MITCategories: Industry Articles, SIG U Resource
SRC Type: Category Specific, Disruptive Digitization, Finance, Information Technology (IT), Machine Learning, Real Estate