A few years back, big data landed in the world of analytics with a rather unflattering and unstructured thump, very nicely hash-tagged with phrases like ‘the next big thing’, ‘powerful’, ‘unprecedented insight’, etc. The sheer volume, velocity and variety had data analysts frothing at the mouth.
Fast-forward a few years and it has become increasingly apparent that the volume, variety and velocity is increasing exponentially, with absolutely no signs of slowing down or tapering off. If anything, it is going to get worse. The more IOT connected ‘things’ that are invented or added, the larger, faster and more disparate and ‘uncontextualised’ big data is going to get. This is a very large and fast-moving problem.
Already, there is way too much information with not enough talent to manage it or time to sift through it. The longer it stays untouched and unused, the more context is lost and the more data is lost to data decay.