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Big Data, teenage sex, and Bridges over Troubled Waters

24th Mar `14, 06:08 AM in Resources

Last week’s Budget saw £42m committed over five years to the creation of The Alan Turing Institute for…

BDMS
Guest Contributor
 

Last week’s Budget saw £42m committed over five years to the creation of The Alan Turing Institute for Data Science, a move designed to help Britain ’out-compete, out-smart and out-do the rest of the world.’

According to the Centre for Economics and Business Research, the ‘big data’ marketplace could benefit Britain to the tune of £216bn and create 58,000 new jobs by 2017.

Deloitte estimates that the direct value of public sector information to Britain’s economy is around £1.8bn per year, with wider social and economic benefits bringing this up to around £6.8bn.

NESTA state that data-driven companies in the UK are 40 per cent more likely to report launching products and services compared to competitors that haven’t grasped big data.

But what exactly is ‘big data’?

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