Sometimes, I wish that I had done something in my undergraduate or graduate degree that was related to big data. Big data is a big phenomenon at this moment in the world, what with Facebook and Google accumulating data from almost all of the population worldwide.
It is also a sector in which there has been phenomenal progress, as the Lohr article states.
For example, there are now countless digital sensors worldwide in industrial equipment, automobiles, electrical meters and shipping crates. They can measure and communicate location, movement, vibration, temperature, humidity, even chemical changes in the air.
I had no idea that automobiles had all these sensors put in. But it makes sense because there has been such a huge change in automobile technology, and this has resulted in more fuel-efficient cars.
Big data has been useful in earning companies like Facebook and Google a lot of money via ad revenue through tracking user preferences. There is, and has been for a little while, a huge demand for data scientists. Data scientists are people who help interpret the trends that statistics that Big Data generates.
Interpretation of Big Data is responsible for the development of artificial intelligence, and machine learning. All of this is helping humanity craft ingenious technologies that will benefit mankind, and increased the chances of developing technology that was previously thought impossible, like driver-less cars.
Siri is an excellent example of artificial intelligence, an offshoot of the interpretation of Big Data. Started off as a Pentagon research project, it is now a self-sufficient AI.
I am a huge fan of English football, and having followed it for well over a decade, I know the importance of statistics in the prediction and betting that takes places in the sport (betting is legal in Britain). The predictions of who will win the Champions League or the Premier League also happens because of an analysis of Big Data, which is all of the data that has been accumulated over the 26 years that the Premier League has existed.
Almost every company is involved in data mining and the collection of data from consumers or through every section of their selling process. All of this data helps in understanding what consumers want or how the company can streamline their process and save or make money.
Big Data and the subsequent creation of artificial intelligence is a scary prospect, but that’s only because I have grown up watching Terminator. SkyNet is an impossible entity to create, but the benefits that AI and Big Data have created supersede anything bad that has come of it, like privacy concerns.