I read this really great report by #McKinsey called #BigData -The next frontier for innovation, competition, and productivity.
What is big data?
Volumes and volumes of customer information captured by enterprises and generated through the rise of #multimedia, #socialmedia, and the #InternetofThings.
I have summarized the key insights of the report:
Â· #Data is growing at an alarming rate
Â· This is a good thing. It adds value: Usability, performance, segmentation, decision-making and product development.
Â· #Data is the new competitive edge
Â· Using #bigdata makes your business more profitable and productive
Â· Some industries stand to gain more from #bigdata
Â· A talent shortage is looming
Â· There's always a catch – privacy, Security and IP will need to be addressed.
Download the full report here: http://www.mckinsey.com/Insights/MGI/Research/Technology_and_Innovation/Big_data_The_next_frontier_for_innovation
Image source: Nemark Technology
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