First a definition. Big data: typically a collection of large and complex datasets that are too cumbersome to process and analyze using traditional computational approaches and database applications. Usually the big data moniker will be accompanied by an IT vendor’s pitch for shiny new software (and possible hardware) solution able to crunch through petabytes (one petabyte is a million gigabytes) of data and produce a visualizable result that mere mortals can decipher. Many companies see big data and related solutions as a panacea to a range of business challenges: customer service, medical diagnostics, product development, shipping and logistics, climate change studies, genomic analysis and so on. A great example was the last U.S. election. Many political wonks — from both sides of the aisle — agreed that President Obama was significantly aided in his won re-election with the help of big data. So, with that in mind, many are now looking at more important big data… Read more