Chapter 2
Exploring a World Awash in Data
IN THIS CHAPTER
Defining data and its relationship to information
Exploring the role of data in the 21st century
Moving from data to insights
Discovering the impact of big data
I’ve had the fortunate opportunity to work in private industry, government, and academia. Regardless of the sector, I observed that almost all actions were taken in the context of constraints. There are always limitations around budget, skills, time, and more. Of course, that’s no big revelation. Scarcity is the central basis of economics. How resources are used and allocated is of great concern to everyone and largely drives societal behavior.
My observation about constraints was elevated — and to me particularly noteworthy — because it contrasted so greatly with the abundance of data that was available. Each organization had resource limitations that dictated the terms of their decision-making and actions, but also had such quantity of data, that abundance, rather than constraints, was a source of concern.
Recognizing the issue of data abundance, many questions ...