This week we discussed the idea of big data and how it is impacted the we access information and how that has looked through recent history. With all the information that is available, data mining has become more important than ever when it comes to sifting through the countless amounts of information. Industries that require access to large quantities of information are often looking for ways to contain and easily access all of this data.
Let’s look at what big data really is; the word big is two-fold in that it refers to both the quantity and quality of the information in question. The frame of reference for what is big has also changed throughout the electronic and digital ages. Using smartphones as the method of access to the data, a few years ago although phones could access the internet their internal storage was very small. As technology has developed, the internet has not gotten smaller but the capacity our phones have for storing and sorting through data has grown in an attempt to accommodate the wealth of data.
If we look closer at an industry like banking we can really start to understand what big data is and how it has really shaped how we interact with the world. When it comes to managing our money, this process use to be manual, time-consuming and more often than not an inconvenience. You had to make sure you were in a location your bank supported, you had to have account numbers written down, balancing books was done by hand. Now take these processes and multiply them by everyone with an account and that was what made working in a bank such a chore. As technology developed these made handling all of this information easier for both the banks and the patrons and with the development of smartphone applications, put control directly at the fingertips of the member.
As we move forward and the world grows, what will data management look like in the future? The amount of information out there is not going to shrink so methods of categorizing and accessing it will have to match the capacity. This goes back to the question of can we keep up with technology? I believe the question shouldn’t be can we keep up as much as can me manage technology as it develops.