The amount of information that's being created is elevating exponentially. It's almost impossible to wrap your head around it. Rapid advancement in data storage and data processing technology is enabling massive collection and archiving of information.
The "Big Data" phenomenon is creating the opportunity to acquire nearly unlimited insights. Analytics or "data science" can be used to predict what will happen and explain why it will. But many challenges to reaping benefits from analytics yet remain. One main issue: Data is siloed, disjointed, or disparate. Databases are not aggregated. Lots of bureaucracy and a lack of foresight can prevent different parts or divisions of organizations from sharing information. Not only has the volume of data skyrocketed, but the places where it's stored and the methods of collecting it have also expanded profoundly. So the question of the day is this: Are business leaders getting value out of all this data?