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Enrique Rubio Royo

The challenge--and opportunity--of 'big data' - McKinsey Quarterly - Economic Studies -... - 0 views

  • The proliferation of data has always been part of the impact of information and communications technology. Now, as computers and cell phones continue to pervade our daily activities and as millions of networked sensors are being embedded in these devices (as well as in automobiles, “smart” meters, and other machines)
  • the amount of data available for analysis is exploding.
  • The scale and scope of the changes that such “big data” are bringing about have reached an inflection point. Companies capture trillions of bytes of information about customers, suppliers, and operations. Many citizens look with suspicion at the amount of data collected on every aspect of their lives.
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  • Can big data play a useful role?
  • finds that collecting, storing, and mining big data for insights can create significant value for the world economy, enhancing the productivity and competitiveness of companies and the public sector and creating a substantial economic surplus for consumers
  • New research
  • Big data: The next frontier for innovation, competition, and productivity
  • MGI’s analysis shows that companies and policy makers must tackle significant hurdles to fully capture big data’s potential
  • The United States alone faces a shortage of 140,000 to 190,000 people with analytical and managerial expertise and 1.5 million managers and analysts with the skills to understand and make decisions based on the study of big data (exhibit)
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