Big Data is the Game Changer for Travel - Are We Ready? By Gill Hazel Thursday, 26th June 2014
Each day, we produce and rely on more data than the previous day, so our data consumption compounds exponentially, department-by-department, day on day, year on year.
Our ever-expanding tool sets allow us to access more data via more devices as we trawl, isolate, scoop up and machinate relevant information to make better sense and add more meaning, and bring more value into our world. Picture: The USA’s NSA Data Centre in Utah, shown under construction. Reported to be the largest repository of data ever created.
But what is Big Data and what value do we ascribe to its importance and how can it help us in our daily travel related pursuits?
This article highlights the high value assets as we seek more and more relevance and deeper insights into our experiences and business decisions. The value and application of Big Data is as broad and complex as our own creativity, inventiveness and our desire to understand the relativity of the Parts of the Whole.
Today’s commercial environment has become so complex that our human skills are no longer sufficient, nor deemed reliable to manage our information needs needed for an almost risk free business. Neither is access to somewhat limited internal corporate data (Little Data) able to support our needs.
The intuition of Ages past has been replaced by data driven immediacy and context relevant decision-making. The sum total of collation, interpretation and trending of past experiences, both internal and from the web, is Big Data and it’s becoming the most transformative and empowering development in a generation.
The sum total of all the discrete parts is what we gain from collective insights, including the total of all those from others’ experiences. This gives us the ability to better predict, manage and thus influence personal decision-making - such is the utopian nature of Big Data.
Aristotle’s much quoted observation - the whole is greater than the sum of all its parts, has resurfaced with vigor in the 21st Century. It is no truer today with the advent of Data Intelligence, when we break down the large (Big Data) and the small (Little Data) and, some massive data stacks, to extract valuable lines of information to then reformat it into a vital business decision, to develop a business plan, build a strategy, create a budget or develop other business outcomes.
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