Data science is the key to unlocking value from big data, but it must be combined with micro-vertical domain expertise, writes Infor President Duncan Angove in a diginomica article today, headlined "Making big data smaller."
Here are excerpts:
- 30 MB of data are required to store an X-ray
- 150 MB are required to store a single MRI
- 3 GB are required to store the human genome
- 660 terabytes are necessary to power a single hospital
Data is exploding at an unprecedented pace. Ninety percent of all of the data in the world was created in just the past two years. Every year from now, that data will double. So the question becomes: How do we make big data smaller, so it's meaningful and useful?
The answer is data science. …
This is the year for science and big data. The relationship between enterprise success and the optimization and implementation of data science is already vitally symbiotic. The successful companies of the future will be the ones that turn big data into smart data, and build that data into the core of their businesses. The next challenge is to discover the most valuable way to process, visualize, and share that data. …
So you have to ask: How can companies—small, medium, or large—scale data science for value?