Unblocked

Chapter 10. BIGGER DATA

Hiding within those mounds of data is knowledge that could change the life of a patient, or change the world.

Atul Butte, MD, PhD, Professor

Summary

Blockchains could one day open a broader, deeper data layer than has ever been available. However, because it would no longer be proprietary, organizations would have to work harder than ever to extract competitive advantage from that data.

Blockchain technology holds the potential to unleash more comprehensive data—data that could drive deeper insight, and help to realize big data’s promise to advance business and society. However, it comes with a key tradeoff. “Ownership” of the data shifts from organizational silos to the individual contributor, who, in the vision of blockchain entrepreneurs, will be able to safely “vault” a great range of data, including, potentially, new datasets that they had not previously been willing to make available. 

Decisions to use or sell that data would also be increasingly controlled by the contributor. Those organizations that learn to operate successfully within this new paradigm could access a new breadth and depth of data to improve products, market smarter, and discover insights that may very well change our world. However, when fewer datasets are proprietary, businesses will have to work harder than ever to sustain competitive advantage.

The Setting

Businesses Fueled by Big Data

We live among a business landscape obsessed with big data. For years a diverse array ...