Big data – In search of data gold

Establishing a strategic lead

The examples above illustrate the huge potential of data as a resource for the worlds of business and science. Even so, it should not be forgotten that using big data is still in its infancy, especially in Germany. There are still various obstacles and challenges which are slowing down the pace of developments. These first and foremost include the technical requirements for using big data. Businesses need special hardware and software and highly complex, intelligent search algorithms in order to store and readily process the vast volumes of data.

And even if a business is technically capable of integrating and evaluating big data, this does not equate to the immediate acquisition of information. The key to using big data is to ask the right questions, draw intelligent conclusions and apply the information gleaned to the user. To do this, businesses are reliant on having experts, and these are already a rarity in the labour market. In the USA, data scientists are already among the most in-demand technical and scientific IT experts.