Big Data and the Future of Business
summary
A startup scrapes pricing data and trains models on 75 billion flight-price records, predicts whether fares rise or fall, saves about $75 per trip for users and gets acquired by Microsoft for over $100 million. Genomics costs fall from ~$1 billion to ~$1,000 per genome, enabling personalized medicine; a Stanford machine‑vision study finds 12 predictive cancer markers where literature knew nine. Examples use web scraping, Hadoop-style scale and machine learning to turn operational data into new revenue and risk.
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chapters (8)
- 0:00Introduction to big data
- 1:25The Faircast case study
- 5:25Defining the big data era
- 7:47Exponential data growth
- 11:31The role of machine learning
- 16:02Datification and value
- 20:09Data-driven business strategy
- 23:25Risks and the future of data
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