Big data – finding the balance
03 February 2014
Mitigating the risk of a data-driven business model
There is no universally accepted definition of what constitutes ‘big data’. McKinsey & Company define it as ‘databases whose size is beyond the ability of typical database software tools’. This definition accounts for advances in technology, but has the drawback of being next to useless. The Article 29 Working Party, an EU think-tank on data protection issues, refers to big data as ‘gigantic digital datasets, which are extensively analysed using computer algorithms’ again a vague definition...
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