Big Data Equals Big Possibilities
Working in a technology business in a technology driven industry it’s easy to sometimes become cynical when the next “Big” thing comes around. I admit that I certainly was when people first started talking about the Internet 20 years ago and how eventually this would be the way of the future, and it certainly did revolutionize the beginning of the 21st century and is now an intrinsic part of our everyday lives. So now when I start to hear rumblings about the next “Big” thing, I am not so quick to judge.
The term Big Data has been showing up more and more lately in online conversations (the internet!!) and amongst my peers and thoughtful thinkers in our industry. When we start to learn more about what Big Data means, it’s really about taking information, documents, data and making it intelligent, making it useful. At first glance that doesn’t really sound all that new, or exciting. After all computers since the early 60s have been taking information, data, collecting it and making it mean something. But Big Data is different, it’s about using many different sources of data both structured and unstructured and using that data to find insights and answers that help organizations become analytics-driven in order to be more competitive, increase revenues and reduce costs.
Enable your documents and be more competitive, increase revenue and reduce costs.
The ability for business to create, collect, digitize and manage data in 2012 is staggering and the sources of data unlimited. No longer do you have to be a Wal-Mart to understand the significance of data in your organization. The challenge though is how to utilize all of the data sources (Big Data) for analytical driven decisions. In our industry we see this emerging more and more as clients realize that the power of the document is not the digitization of paper to image but the capture of the data from the image and the utilization of that data for many different purposes. Our CTO refers to this as Enabling (empowering) your documents. I think there just might be something to this Big Data movement, will check back in a few years to see how it all panned out.
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