A Data Science Central Community
Interestingly, one of the authors - Jacques Bughin - attended the same secondary school and same class in a small town in Belgium back in the eighties. His articles on Big Data got us back in touch again, after 30 years!
1. Big data: The next frontier for innovation, competition, and productivity
The amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office. Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.
Read full article at http://www.mckinsey.com/Insights/MGI/Research/Technology_and_Innova...
Large-scale data gathering and analytics are quickly becoming a new frontier of competitive differentiation. While the moves of companies such as Amazon.com, Google, and Netflix grab the headlines in this space, other companies are quietly making progress.
In fact, companies in industries ranging from pharmaceuticals to retailing to telecommunications to insurance have begun moving forward with big data strategies in recent months. Together, the activities of those companies illustrate novel strategic approaches to big data and shed light on the challenges CEOs and other senior executives face as they work to shatter the organizational inertia that can prevent big data ...
Read full article at http://www.mckinseyquarterly.com/Seizing_the_potential_of_big_data_...