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Big Data: Find It, Extract It, Refine It, Ship It

Shane Green1 in an interview for the Stanford Graduate School of Business:

What’s interesting to me are the two big analogies that people always talk about in terms of data. First, that data is the new oil, in that we are talking about the early stages of Big Data in the same way that, 100-plus years ago, people were talking about the early stages of Big Oil. We know the industries that developed around oil. You had to find it, extract it, refine it, ship it. The World Economic Forum issued a report last year that I just love. They said that personal data is now becoming an economic asset class. It has, and people are going to manage it as thoughtfully, if not more thoughtfully, as they manage their money. When you look at the financial world, it’s everything from insurance to financial managers to banks. I think you’re going to see analogs across the board with businesses merging around data. This is not a trend that is going to be here for a while and then go. Data is just going to continue to grow, and the need to have all of these different kinds of businesses — including some that are entirely unexpected and we’ve never thought of — is going to continue.

When asking for a Big Data off-the-shelf stack, imagine what was the oil pioneers’ toolkit more than 100 years ago.

  1. Shane Green is president and CEO of Personal, which allows consumers to aggregate all of the available data on their own lives, and then choose whether to share it with advertisers and others wanting to reach them 

Original title and link: Big Data: Find It, Extract It, Refine It, Ship It (NoSQL database©myNoSQL)