The Big Phenomenon of Big Data It’s More Personal Than You Think

Numbers matter. They matter a great deal in business and in life. But as Nate Silverman pointed out in his book, The Signal and the Noise: Why So Many Predictions Fail — But Some Dont, â€Å"Numbers have no way of speaking for themselves.† So it’s up to us to make sense of them, to make sure they â€Å"add up,† and to provide them with a voice. That begs the question: what happens when there are so many numbers – so much data – that the â€Å"making sense† part becomes incredibly overwhelming and it’s a challenge to speak above a whisper? A large data set is like the largest litter of puppies you’ve ever seen: it is a handful, to put it mildly, and your attention can get torn asunder. To carry the analogy further, think of the puppies as â€Å"bytes.† Where do you store them? How do you search them? How do you analyze them? Welcome to the new world of big data. It’s a wondrous, wild, wild, west, and no one has the perfect map or set of coordinates to navigate through the vast, and rocky terrain. Oh yeah, and it’s not just about numbers anymore. Tweets, emails, a Reddit post, a Yelp review – even a simple â€Å"click† – all those count, too. It’s as if kittens are now mixed in with your puppies. What is big data exactly, you ask? Gartner describes it as â€Å"high-volume, high-velocity, and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization.† Think of the data as being all shapes and sizes. That makes it difficult to store and index in traditional ways. And why is there suddenly so much of it? Another good question! These days, there are so many more (so, so, many more) devices and machines that allow us to seek and obtain information in the manner to which we’ve grown accustomed. It has resulted in a Mt. Everest of data bytes. Corralling all those bytes under one roof is more of a challenge when you consider this fun factoid: â€Å"the volume of data traffic is growing by 59% every year,† according to Gartner. Obviously, information technology professionals have a big challenge on their hands; they need new systems to store all the data, and analysts and researchers need new approaches to comb through it. So where is all of this data coming from? Think about all the data transactions you make during a typical day on your smartphone, work computer, personal computer, and tablet – and that’s just a sub-set of big data sources. When you buy gas at the gas station, food at the grocery store, or visit a nearby cafà © chain for an afternoon pick-me-up, your purchases are recorded. All that recorded information is thrown onto an ever-increasing pile of data, along with everyone else’s. Companies want to find out what you like to buy and how to sell you more of it. How are they doing that? They are looking for patterns in the data. And they are looking for patterns that aren’t so readily detected. But big data is not just the purview of commerce. Take this example: In his article â€Å"Why Big Data is a Big Deal,† L. Gordon Crovitz describes how â€Å"Google is better than the Centers for Disease Control at identifying flu outbreaks. Google monitors billions of search terms (best cough medicine, for example) and adds location details to track outbreaks.† In another example, Crovitz described researchers in Canada who examined the records of premature births (â€Å"1,000 data points per second†), which uncovered the fact that when infants’ â€Å"vital signs are unusually stable, that correlates with a serious fever 24 hours later.† Though doctors do not yet know why this occurs, they know now to take precautions. You may be thinking, â€Å"Hmm, I don’t work in information technology, or even have plans to – so why should I care about big data?† In Jer Thorp’s article, â€Å"Big Data is Not the New Oil,† he argues that it’s time to reframe the way all of us think and talk about big data. As he explains it, most of our personal data transactions (Facebook posts, web surfing proclivities, Tweeting our locations, etc.) are being â€Å"monetized,† and it’s easy to forget that. We don’t consider that all that data is made up of bits and pieces of our lives. Or, as Thorp says, â€Å"It is a dense condensate of our human experience.† Thorp believes we need to begin humanizing big data because it will get us to think beyond how everyone’s data is currently being used, and how it could be used in the future. Pondering future uses (and how it will be managed) can shape how we deal with it now. So how do we start? Thorp has three recommendations that apply to everyone who engages in data transactions – and that’s almost everyone. They aren’t a part of the current discourse, but we think they should be. They are: Deal with your data: When you experience firsthand how to store, search through, and protect your own personal data, you are dealing with a microcosm of big data. And just as with big data, there are inherent risks and rewards, albeit on a smaller scale. Examples of risks: identity theft or a stolen credit card number. Examples of rewards: helping a friend locate a missing pet through social media, or fundraising online for a local cause. By dealing with your own data, it’s much easier to understand the dangers of mishandled big data, as well as the innovative solutions it can produce when it’s managed successfully. Don’t forget ethics: There are real human beings on the other side of those data bytes, says Thorp, and it’s important to remember that. â€Å"Of the dozens of start-ups who have approached me for advice on their personal data-centered ventures over the last year, not a single one has mentioned the rights of the people from whom the data is being extracted. This needs to change.† Thorp predicts that big data companies committed to being â€Å"data humane† will ultimately have a competitive edge. Leave a chair at the table for artists: You read that right. Thorp believes the potential for big data is, well, big. So how do we get our minds around that in order to begin figuring out how use big data in innovative, helpful ways, as well as minimize the risks and ethical gray areas? He has this to say: â€Å"As we proceed towards profit and progress with data, let us encourage artists, novelists, performers and poets to take an active role in the conversation.† Creative minds breed creative solutions. All of us, whether we are fully cognizant of it or not, are constantly generating information that adds to the larger body of big data. It’s possible you are in generation mode as you read this post right now. We at Hult Labs think it’s time for people to become mindful of the data they’re creating, where it’s going, and how it’s being used. In essence, we all have a big litter of invisible puppies and kittens (in the form of bytes that contain our personal information), running in all directions. You may ask yourself: Where are they going? And do I care? We think it’s worth looking into. To find out  more about Hults business programs,  download a brochure here Grow your leadership capabilities with an MBA in international business at Hult. To learn more, take a look at our blog Should you choose a Master of International Business or MBA program? or give your career a boost with our Masters in International Business. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .