Thanks largely to the spread of internet technology, we are awash in data that is being collected and studied for insights about the world. Using inexpensive computer memory, software, smart algorithms and powerful computer processors, companies are finding new meaning in vast quantities of data that would never have been possible just a decade ago. Join us at the Business Analytics Industry Panel to discuss the big data industry on November 10, Noon–1:30 p.m. in DCB Schneider Board Room (Sixth floor).
In 2013, Scholars Kenneth Cukier and Viktor Mayer-Schoenberger drew a comparison between the Library of Alexandria and the data-driven world we live in today. According to Cukier and Mayer-Schoenberger, in the third century BC, the Library of Alexandria was believed to house the sum of humanity’s knowledge. Today, there is enough information in the world to give every person on earth 320 times as much information as historians believe was stored in the Library of Alexandria.
Aside from the sheer scope and scale of data in the world today, the process of “datafication” has created linkages between the digital and the physical worlds. For instance, GPS satellites, the ability to search for words in a document, and the self-driving car all rely on the ability to harness the power of data. It is no surprise then that businesses are interested in learning about big data. The potential for big data to inform difficult business decisions and to make complex operations more timely and efficient could save millions of dollars. However, big data is also being used to try and save lives. For instance, researchers in Canada are trying to harness big data to identify problems in people’s vital signs.
It is clear that big data has the potential to reshape the world we live in. Don’t miss the chance to hear from professionals in the Business Analytics industry during the Daniels Business Analytics panel session on November 10, 12-1pm. Please register for the event at Daniels Careers.