Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    How Data Analytics Is Reshaping Patient Financing Decisions
    How Data Analytics Is Reshaping Patient Financing Decisions
    13 Min Read
    business using business intelligence
    How to Use a Competitive Intelligence Dashboard to Turn Market Data Into Smarter Marketing Decisions 
    9 Min Read
    unusual trading activity
    Signal Or Noise? A Decision Tree For Evaluating Unusual Trading Activity
    3 Min Read
    software developer using ai
    How Data Analytics Helps Developers Deliver Better Tech Services
    8 Min Read
    ai for stock trading
    Can Data Analytics Help Investors Outperform Warren Buffett
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: The Future of Big Data: Good, Bad or Ugly?
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > The Future of Big Data: Good, Bad or Ugly?
Analytics

The Future of Big Data: Good, Bad or Ugly?

gilpress
gilpress
6 Min Read
SHARE

The Pew Internet Project, in collaboration with Elon University’s Imagining the Internet Center, recently published a report on the future of big data, based on a “non-random online sample of 1,021 Internet experts and other Internet users.”

The Pew Internet Project, in collaboration with Elon University’s Imagining the Internet Center, recently published a report on the future of big data, based on a “non-random online sample of 1,021 Internet experts and other Internet users.”

Fifty-three percent of the survey respondents agreed with the positive scenario presented to them: “Thanks to many changes, including the building of ‘the Internet of Things,’ human and machine analysis of large data sets will improve social, political, and economic intelligence by 2020. The rise of what is known as ‘Big Data’ will facilitate things like ‘nowcasting’ (real-time ‘forecasting’ of events); the development of ‘inferential software’ that assesses data patterns to project outcomes; and the creation of algorithms for advanced correlations that enable new understanding of the world.

Overall, the rise of Big Data is a huge positive for society in nearly all respects.” The report includes many specific quotes to support this view. For example, this one from Tiffany Shlain, director and producer of the film Connected and founder of The Webby Awards: “Big Data allows us to see patterns we have never seen before. This will clearly show us interdependence and connections that will lead to a new way of looking at everything. It will let us see the ‘real-time’ cause and effect of our actions. What we buy, eat, donate, and throw away will be visual in a real-time map to see the ripple effect of our actions. That could only lead to mores-conscious behavior.”

More Read

Intro to Pervasive Business Intelligence (via…
Leveraging Analytics to Improve Enterprise Performance Management
How Big Data Is Shaking Up the Manufacturing Supply Chain
Blockchain Will Unblock A Data Problem In Healthcare
Ethical Implications Of Industrialized Analytics

Not all survey respondents were so enthusiastic about big data. Thirty-nine percent agreed with the negative scenario presented to participants: “Thanks to many changes, including the building of ‘the Internet of Things,’ human and machine analysis of Big Data will cause more problems than it solves by 2020. The existence of huge data sets for analysis will engender false confidence in our predictive powers and will lead many to make significant and hurtful mistakes. Moreover, analysis of Big Data will be misused by powerful people and institutions with selfish agendas who manipulate findings to make the case for what they want. And the advent of Big Data has a harmful impact because it serves the majority (at times inaccurately) while diminishing the minority and ignoring important outliers. Overall, the rise of Big Data is a big negative for society in nearly all respects.” Here’s a sample quote from Marcia Richards Suelzer, Wolters Kluwer, a global information services company:  “We can now make catastrophic miscalculations in nanoseconds and broadcast them universally. We have lost the balance inherent in ‘lag time.’”

The CIO of Wal-Mart is quoted upfront in the report (from The Economist in 2010!)—“Every day I wake up and ask, ‘how can I flow data better, manage data better, analyze data better?’”—but only 10% of survey respondents identified themselves as “technology developers or administrators.” A plurality of the survey participants (40%) identified themselves as a research scientist or as employed by a college or university.

Which means that very few IT executives—the people who actually manage the data—or very few business intelligence and analytics professionals or data scientists—the people who actually find out what the data means— were asked to respond to the survey’s big data scenarios.  Apparently they don’t qualify as “Internet experts.”

That’s a pity because the practitioner’s view could help, possibly more than the “Internet expert” view,  maintain a more balanced and nuanced view of the good and bad of big data, and certainly tone down the made-for-the-masses “ugly scenario,” in which big data is equated with big brother.  Without the experienced-based opinions of the people who live and love data, who know well its potential and limitations, the Pew/Elon study advances our understanding of the future of big data as much as today’s (July 29) Dilbert cartoon, in which the pointy-haired boss  says ”Big data lives in the cloud. It knows what we do… If we accept big data in our serves, we will be saved from bankruptcy.”

So where do you see big data in 2020? Will it be useful, harmful, or neutral for our well-being? Is it going to help organizations in making better decisions or will it prove to be a low-return or no-return investment? Is it a promising “new science” or simply a steady evolution in our ability to analyze data? 

TAGGED:big analyticsbig databig data analyticsBigData
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

How Data Analytics Is Reshaping Patient Financing Decisions
How Data Analytics Is Reshaping Patient Financing Decisions
Analytics Big Data Exclusive
AI driven big data company
How AI-Driven Workflows Are Changing the Way Companies Think About Data Risk
Artificial Intelligence Data Management Exclusive Risk Management
ai product development
Why Businesses Outsource AI Product Development Companies
Exclusive News
banking tools
The Fintech and Banking Tools Global Entrepreneurs Rely On
Fintech Infographic

Stay Connected

1.2KFollowersLike
33.7KFollowersFollow
222FollowersPin

You Might also Like

preventing investing mistakes
Big DataExclusive

Saint Lucia Investors Turn To Big Data For Massive ROIs

7 Min Read
big data helping page speed
Big DataExclusive

Big Data Solves Website Loading Issues For Foreign Traffic

5 Min Read
should big data be part of the genera curriculum
AnalyticsBig DataExclusive

Big Data Should be a Priority in Every College Curriculum

6 Min Read

The Trouble with Big Data

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?