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"What exactly is Big Data? It’s a product of the Internet combined with all the new ways that are emerging to gather, discover and make sense of data. "
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The promise of Big Data is truly mind-boggling. If we can harvest insights from all of those sources of information, rather than being overwhelmed by data, we have the capacity to understand with greater precision than ever before how our world actually works. By applying analysis to data, we can see once-hidden patterns unfolding before our eyes so we can make better decisions about everything from personal financial planning to a company’s strategic direction.
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Some programs go beyond just finding documents with relevant terms at computer speeds. They can extract relevant concepts — like documents relevant to social protest in the Middle East — even in the absence of specific terms, and deduce patterns of behavior that would have eluded lawyers examining millions of documents.
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the studios examined six million documents at a cost of more than $2.2 million, much of it to pay for a platoon of lawyers and paralegals who worked for months at high hourly rates.
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Now, thanks to advances in artificial intelligence, “e-discovery” software can analyze documents in a fraction of the time for a fraction of the cost. In January, for example, Blackstone Discovery of Palo Alto, Calif., helped analyze 1.5 million documents for less than $100,000.
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"The tech world is just getting started with its own full launch - a love affair complete with predictions, trends, and already a roster of tools and services."
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People are spending more time in social networks - and getting stuff done there, too. Which means that many of the activities that used to happen in mall stores, while on the phone with friends possibly, or through just solitary search, are now happening as a social experience.
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