Big Data and Management

The authors reflect on management of big data by organizations and comment on service level agreements (SLA) which define the nature and quality of information technology services and mention big data-sharing agreements tend to be poorly structured and informal.

Abstract

Big data is everywhere. In recent years, there has been an increasing emphasis on big data, business analytics, and "smart" living and work environments. Though these conversations are predominantly practice driven, organizations are exploring how large-volume data can usefully be deployed to create and capture value for individuals, businesses, communities, and governments (McKinsey Global Institute, 2011). Whether it is machine learning and web analytics to predict individual action, consumer choice, search behavior, traffic patterns, or disease outbreaks, big data is fast becoming a tool that not only analyzes patterns, but can also provide the predictive likelihood of an event.