Complete 2 pages APA formatted article: Big data: The next frontier for innovation, competition, and productivity. Big data: The next frontier for innovation, competition, and productivity Lecturer: The purpose for the paper is to show the increased collection and use of data because it indicates the increased advances in technology propel production of data that is physically impossible to store.
The authors base their research on findings by Hal Varian and Peter Lyman that indicate enormous amount of data transmitted and stored across the globe during the period between 2000 and 2003. although, most of the transmitted data was not stored. As well, the study bases on findings by research carried out by IDC that indicates in 2007 the digital data across the globe exceeded the world’s ability to store it because of replication of information. Moreover, the study bases on findings provided by Martin Hilbert and Priscila Lopez in their study showing that the ability to produce and process data increased by 58% while global storage increased by 23% between 1986 and 2007 (Manyika et al, 2011).
The article clearly indicates that generally data generation has increased exponentially with increased storage in 2010 showing that nearly 80% of the stored data were duplicates. Moreover, the paper shows that various trends propel the increase in digital data generation. These trends involve expansion of conventional transaction databases, development of multimedia content and increased reputation of the social media as well as the explosion of applications using sensors (Manyika et al, 2011).
The paper offers a huge potential of creating value through digital data because organizations can leverage ‘big data’ in improving their coordination of human and physical resources. Moreover apart from the five domains generating tremendous amount of data, the paper shows that other domains across the globe are also capable of creating value from the ‘big data’. The study has been essential in showing transformation potential of the ‘big data’ through creation of value mainly in the main applicable ways. The paper is essential in showing the five main areas where ‘big data’ creates a huge value. These areas include healthcare, public administration, retail, global manufacturing and global personal location data. The paper is essential in showing the different ways ‘big data’ creates value through transparency, improved performance, customizing actions, adopting automated algorithms in decision making and innovating fresh business models and services (Manyika et al, 2011).
The study uses quantitative research method because of its data analytic perspective that analyses information in terms of numbers. As well, the study also emphasizes on distinct attributes of individuals and organizations. for instance, the study estimates that enterprises exceeded 7 exabytes of stored data across the globe in 2007. The authors of the article used the right methodology in addressing the research problem since the study analytically evaluated the way digital data has grown over the years (Manyika et al, 2011).
The authors of the paper do not offer recommendations for future research. however, based on the study it is clear realization of the full significance of ‘big data’ necessitates future research on data policies, technology and techniques, organizational change and talent, broad access to data and the industry structure (Manyika et al, 2011).
The authors have been exemplary in the way they present their argument on the ‘big data’. however, they have one big problem of over-reliance on other studies. Nevertheless, the use of other studies enables the authors to provide an exemplary analysis and provision of excellent paper on the subject.
Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. H. (2011). Big data: The next frontier for innovation, competition, and productivity.