Tuesday, February 21, 2012

How does YOUR industry stand to gain from "Big Data"?

"Are you ready for the era of big data?" by Brad Brown, Michael Chui, and James Manyika (Oct 2011, registration required).
McKinsey Global Institute has come up with a graphic showing the ease of capturing big data's value and the magnitude of its potential across different industry sectors (below). Finance and insurance, and government, look poised to benefit the most. However, by classifying "industries", the exercise ignores size, maturity, and IT capabilities of individual firms, as well as glossing over the varying potential of different aspects within "big data" (analytics, linking internal with external datasets, mining, etc).

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