Forbes contributor Gil Press wrote in September 2013 about a NewVantage Partners survey of Fortune 1000 C-Suite executives and executives responsible for big data. His article was a response to a prognostication by James Glanz in The New York Times that the economy was still essentially in the doldrums, and that big data will never revitalize the economy the same way as the first wave of the Internet evolution.
I argue that expecting gargantuan economic resurgence from big data that is commensurate with the Internet misses the point of big data. We should expect big data to boost revenues and improve profit margins, and companies are already seeing that occur. However, big data also improves how companies operate and manage other emerging factors, such as a workforce that isn’t as well-educated or trained and a customer base that is more knowledgeable than ever.