Viktor Mayer-Schonberger, co-author of Big Data: A Revolution That Will Transform How We Live, Work, and Think, has been speaking in Taipei recently about the possibilities of Big Data for Taiwan’s small and medium enterprises.
He highlighted that one of the main reasons Taiwan’s SMEs ought to be capitalising on this trend is because “You don’t need a huge initial investment to reap the benefits of big data.” Whereas in previous times, crunching large datasets meant legacy warehouses and hefty investments, today big data infrastructure looks a little different. Parallel processing means you can store data on clusters of cheap commodity hardware; or, you can store big data in the cloud, only paying for the memory you use. These technologies “mean big data is reachable for small and medium businesses as well because of the low-cost entry,” Mayer-Schonberger explained. “What it really requires is two things: data, obviously, and imagination.”
He further highlighted that when many think about data, they think about the way it faciliates transactions, and the sale of goods and services, in the physical world. But in the era of big data, datasets don’t just facililate revenues; they can be sources of revenues in and of themselves, he said.
Jason Kelly, an IBM partner responsible for big data and analytics business for Greater China, also told reporters that global figures of connected devices are expected to exceed 1 trillion units by 2015. This increase will lead to an unimaginably vast proliferation of data- companies would be wise to heed Mayer-Schonberger’s words now and begin exploring large dataset analysis, as the big data trend continues to grow.
Read more here.
(Image credit: Flickr)
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