The term “big data” has become both overused and misused. It serves as a shorthand phrase for large amounts of data and new forms of data. But large amounts of data, high velocity data and varieties of data (unstructured) have been around for years.
The announcement by the Australian Government Information Management Office (AGIMO) of its big data strategy in August 2013 indicates that we’ve arrived at a point where “big data” could be considered just the norm.
One thing that is clear is that organisations need to have an information management strategy if they are to obtain the most from their information assets.
Gartner defines big data as high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.