Impact Of Big Data On The Future

1364 Words Mar 23rd, 2015 6 Pages
Abstract
The continuous flow of data and information flooding our lives in conjunction with further increases in technology, has created a world of endless possibilities in this day and age. The impact and influences that have been created through big data will shape our lives not only today, but well into the future. This report examines the benefits of big data and the impact it has currently having in our lives as we speak. It also explores the correlation between the lack of knowledge, security and privacy issues we are facing with big data concepts and principles today, and where we will see big data systems in the future.

Introduction
The ever-increasing advancements in technology, and the way in which we are aiding in the creation of more and more data every day, there’s an idealism that we analyse this information to provide meaningful results, whether it be in our jobs or to support our businesses. The benefits of using and supporting big data will lead to a greater competitive advantage and “will become the basis of competition and growth for individual firms, enhancing productivity and creating significant value for the world economy by reducing waste and increasing the quality of products and services” (McGuire, Manyika and Chui, 2012), now and in the future. However, there is also some issues that may arise that businesses will need to address, particularly in privacy and security, in which risk management strategies will need to be implemented.

The…
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