 |
|
Big Data
Reviewed by Sudhirendar Sharma 30 Jul 2013>
In his first book Delete - The Virtue of Forgetting in the Digital Age,
Victor Mayer-Schonberger had shocked readers with the immortal power of the
internet. 'Nothing ever gets deleted', he had rightfully argued. Taking the
argument further he now elaborates the revolutionary power of 'big data', making
information digitization the new basis of life. Since people willingly share
information online, the likes of Google, Facebook and Twitter are inundated with
enormous data to extract new insights or create new forms of value. Citing
numerous instances where trends and predictions out of big data analysis has
been put to economic use, datafication has helped in interpreting attitudes,
sentiments and even human behaviour like never before. Some 400 million tweets a
day certainly help usher new insights on peoples’ moods, interests and
preferences.
Processed data has started to look like a new resource and it can be
processed again and again to meet diverse needs. It is said that every Facebook
user is worth around $100, since users are the source of information in the
first place. Only if the users realise the value of their 'likes' can they
collectively bargain to get paid for their voluntary contribition? Not in too
distant a future, such a scenario will emerge when big data will create an
'information economy' on its own. It even exists today, but has been capitalised
by those who not only posess fastest computers but have servers with incredible
storage capacity as well.
Like his previous book, Victor Mayer-Schonberger has come out with yet
another ground-breaking book which portrays all aspects of what the emerging big
data revolution may be all about. While seizing rewards of this incredible
evolution, the potential risks associated with misappropriation of data must
also be appreciated. For big data to ensure privacy, need for prior consent,
opting out and anonymization have to be taken as policy prescription against its
misuse.
Big Data is an exhaustive narrative on the virtues and risks
associated with the emerging world of datafication. Full of anecdotal stories on
latest developments, Big Data is a must read book.
Big Data
by Viktor Mayer-Schonberger and Kenneth Cukier
Hachette India, Delhi
Extent; 242, Price: Rs 499
|
|