Recently the Global Agenda Council on Emerging Technologies within the World Economic Forum has made a list of the top 10 emerging technologies for 2012. According to this list the technology with the greatest potential to provide solutions to global challenges is informatics for adding value to information.
As said in the summary: “The quantity of information now available to individuals and organizations is unprecedented in human history, and the rate of information generation continues to grow exponentially. Yet, the sheer volume of information is in danger of creating more noise than value, and as a result limiting its effective use. Innovations in how information is organized, mined and processed hold the key to filtering out the noise and using the growing wealth of global information to address emerging challenges.”
Big data all over
Surely “big data” is the buzzword within data management these days and looking for extreme data quality will be paramount.
In my focus area, being master data management, we also have to filtering out the noise and exploit the growing wealth of information related to what we may call Big Master Data.
Big external reference data
The growth of master data collections is also seen in collections of external reference data.
For example the Dun & Bradstreet Worldbase holding business entities from around the world has lately grown quickly from 100 million entities to over 200 millions entities. Most of the growth has been due to better coverage outside North America and Western Europe, with the BRIC countries coming in fast. A smaller world resulting in bigger data.
Also one of the BRICS, India, is on the way with a huge project for uniquely identifying and holding information about every citizen – that’s over a billion. The project is called Aadhaar.
When we extend such external registries also to social networking services by doing Social MDM, we are dealing with very fast growing number of profiles in Facebook, LinkedIn and other services.
Surely we need informatics for adding the value of big external reference data into our daily master data collections.