Terabytes, Petabytes, Exabytes. Who can keep track? While these strange terms have just begun to enter the business lexicon, the hype surrounding them has reached a fever pitch. We have undoubtedly entered the age of big data.
Yet it’s hard for many to take it seriously. While the blogosphere buzzes and millennials preach, most serious business people are focused on their jobs. They have partners, customers to keep happy and all the techy mumbo jumbo just doesn’t seem relevant.
Yet big data is important because it will transform how we manage our enterprises. For most of the 20th century, business leaders relied on “scientific” studies and “statistical significance” to determine what information they could trust. Now, technology is making those assumptions obsolete and the practice of management will never be the same.