Arrival of "Big" Data "

Data points being replaced by ephemeral big data streams

Most firms fail to capitalize on data in hand

Opportunities

Data is the sawdust of our era

Generated every time a piece of software runs

Can be mined for insights to shape stuff, optimize operations, and new business
models

Generating foresight🡨cheap computing horsepower speeding transformation

Example

Challenge: How to use such foresight to deliver more business value

Discovering what causes what

Example

Correlation in statistics ~ Walmart’s beer and diapers sales on Friday night

Can tweak things that cause sales, returns, or customer loyalty

Causation is the Holy Grail of prediction

Digitization-infusion-ubiquity trifecta perpetuates these data streams

Coming from interconnected supply chains, mobile devices, IoT, social media

Example

Walmart produces over 200x entire Library of Congress every hour

Boeing 787 jet generates 2,500 iPhones worth every hour