We have huge amounts of data at our disposal. But can we handle it, Ian Vella asks.
Marketing executives have an insatiable desire to get to know more about their potential customers. Big data analysis may be the answer to their requirements.
In theory, every aspect of our lives can be quantified and measured. Big data deals with how a company can gather and analyse such information. Data storage capabilities are roughly doubling every 40 months – this means that any company today can capture any kind of data from innumerable sensors and input devices, and store it all with relatively low costs involved.