We have more new sources of data than ever. As the Internet of Things (IoT) continues to grow, data is becoming bigger in volume, velocity, and variety. We hear a lot about Big Data; but is bigger always better?
Not necessary. The benefits of Big Data are about the ability to derive new knowledge and insights from data. In other words, more data does not equal more information.
“Even in the realm of big data, companies and governments are beginning to see the value in a ‘less is more’ approach. This is actually in stark contrast with things data-driven CEOs like Jeff Bezos at Amazon believed when he said ‘We never throw away data’.”
Want to know more about why minimum amount of useful data is more useful than “Big Data”?
Please read the excellent article called “Why Data Minimization Is An Important Concept In The Age of Big Data” written by the Forbes writer Bernard Marr.