Big Data is the New Oil

Image from recordpoint.com

Big data is now a new commodity.

Data is mined.

Using a site for “free” is not using a site for free. You’re paying with data.

Where do they get your data?
When you sign up for anything online, cookies, and sensors. Sensors are huge.

Tesla isn’t a car company- it’s a data company. Here are the sensors in a Tesla: eight video cameras, twelve ultrasonic sensors, front radar, and GPS. Tesla is worth so much because of data. “Real time data acquisition.” The market for vehicle gathered data will be approximately 750 million by the end of 2030. That’s a lot of data.

Our smartphones are choc full of our daily dose of sensors too: the accelerometer, the gyroscope, the magnetometer, the GPS, the barometer, the proximity sensor, the ambient light sensor, and the face sensor.

Social media allows us to gather big data. From there, campaigns can be formed based upon sentiment such as the JELL-O Pudding Face campaign or the Snickers Hungerithm campaign. Or, they can be formed based on location like the Google Explore campaign. Think, what other building blocks could big data provide besides sentiment or location?

Social media is SoLoMo: social, local, mobile with a nice helping of big data. If you want a campaign that reaches the people, you need social media. Data is where the truth is. And from that truth we form human insights. These days, big data is the starting point for coming up with a new concept. 

Happy mining.

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