Are you forgetting the importance of small data given the current obsession with Big Data? Mike Kavis thinks so and I agree. Don’t get me wrong. I love big data and use it in analytics constantly. However, we must remember the power of small data also.
Although big data analytics can certainly provide important and transformative insights, you really don’t always need big data to be successful.
The key to success is utilizing the right data.
And what the right data is depends on what you are trying to achieve.
In many cases, one simply does not even have access to big data. For example, if you are in a shallow data environment, such as an emerging market, and do not have access to it then big data is not an option for you. This is certainly not an uncommon challenge for emerging market execs who keep hearing about Big Data but when it comes to finding it they have great difficulty.
This may not be a hindrance to solving your challenges as small data analyzed with AI can be extremely powerful and may be all you need. You need to ensure that you are using the right small data and are applying the right analytics to it.
So next time you are stressed about not having big data, look at your small data and consider how you could get the most from it.
Do You Need Big or Small Data? Despite what some may think, big data is not a requirement for all IoT use cases. In many instances, knowing the current state of a handful of attributes is all that is required to trigger a desired event. Are the patient’s blood sugar levels too high? Are the containers in the refrigerated truck at the optimal temperature? Does the soil have the right mixture of nutrients? Is the valve leaking?