There has been a lot of speculation lately about heralding Big Data as a solution for problems we don't even know exist yet; while it does provide a useful lens through which to view the world, it's become easy to rely on the idea of "big data" as a cure-all. But what kinds of interesting projects are becoming more realistic with the application of Big Data?
In the world of law, two Stanford Law entrepreneurs using Big Data to streamline law research with data visualization and machine learning. Wired wrote about the project last week, giving examples of the cases in which it could provide an invaluable alternative to law students and lawyers doing research.
The financial sector – especially big banks – are trying to utilize the enormous amount of data they collect daily to better tailor their services to individuals instead of providing a one-size-fits-all platform for banking. Forbes addressed some of the possibilities.
The New York Times wrote about the acquisition of data gathering companies that focus on the millennial generation – valuable data that will help companies cater more successfully to that generation.
CNBC addressed the growing wearables market, which promises to produce even more data from a variety of devices; one example being in fitness apps. Security becomes a growing concern when more detailed data is streaming in from many different sources.