Special report from Te Economist on managing information.
Data, data everywhere. That brings huge new benefits, but also big headaches.
The world contains an unimaginably vast amount of digital information which is getting ever vaster ever more rapidly. This makes it possible to do many things that previously could not be done: spot business trends, prevent diseases, combat crime and so on.
Managed well, the data can be used to unlock new sources of economic value, provide fresh insights into science and hold governments to account.
But they are also creating a host of new problems. Despite the abundance of tools to capture, process and share all this information—sensors, computers, mobile phones and the like—it already exceeds the available storage space.
Moreover, ensuring data security and protecting privacy is becoming harder as the information multiplies and is shared ever more widely around the world.
There are many reasons for the information explosion. The most obvious one is technology. As the capabilities of digital devices soar and prices plummet, sensors and gadgets are digitising lots of information that was previously unavailable. And many more people have access to far more powerful tools.
See the hole report...