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Big Data step change for humanity

Advancements in health, retail and introductions into new ways of doing things such as the sharing economy, crowdsourcing, open source are leading to continual progress at an unprecedented rate. The Digital Age and Big Data will contribute a great deal to evolving our global society.

I am very excited about the developments that are emerging as well as those to come. How it will transform the way we live and solve complex business and societal problems.

As Xero’s growth continues to increase rapidly at global scale, their influence and contribution to a learning society will grow. Having access to data from many businesses including expenses, profitability, Xero could inform the health of the economy. Some of the ways would be through;
– understanding the engine of industry via Small and Medium enterprises;
– providing insight into consumer spending patterns
– reporting CPI and other key economic performance variables. And do so in a more reliable way.

Telstra, is to become the repository for cancer data as the government defers to the private sector. Initially it will be bowel and cervical screening with a view to extend to other cancer types. A centralised database of this kind can of course work well with other organisations. In partnering with the likes of Chris O’Brien’s lifehouse research into cancers and inform risk for health and personal insurers.

Apps such as Fitness Pal, is another great example. It collects data on people’s calorie consumption, nutrition, exercise, goals and how they track to their goals. All this data can help us to understand, key scientific questions such as: What is the role of nutrition in weight loss? What about if it was integrated with serology and Fitbit data?

These and many more services will lead to a massive step-change in what we know and how we live our lives. We must progress these initiatives in an ethically responsible manner. Risk management is paramount. Protecting individual privacy is crucial.

In a world where we hear of consumer data privacy breaches on a near daily basis, companies in breach will face criminal prosecution or be sued by people whose data has been compromised.
Advancements of this nature are here to stay. As long as businesses use the data in a positive and responsible way, it will benefit and empower us all.

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This entry was posted on Tuesday, May 31st, 2016 at 12:49 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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