Today in private conversation we’ve talked about Big Data. You know, that’s the concept that you can get a lot of useful facts out of a random heap of information, as long as the heap is big enough. For instance there was mentioned that Google can monitor the spreading of a virus almost in real time, just from the fact that people search for remedies. Conventional methods only allow for very delayed tracking instead.
This is only one example and I may not even remember it correctly, but that’s not important here. Just take it as an example for what Big Data can mean. Wonderful, huh?
On the other hand Big Data means that insurance companies have changed their business model years ago. When once they had tried to get as many customers as possible, just to balance their risk, they now try to deny selling insurance to risky customers, basically accepting those who least need it, and thereby minimizing the value of the concept “insurance” for the public, while maximizing their own profits.
Or of course the big elephant in the room, spying by the NSA and their allied secret services, that’s Big Data as well and it is as big as it gets. Isn’t it sad that we as a species are seemingly not able to use all our wonderful technology for useful things?