ABSTRACT
Since the invention of the World Wide Web 25 years ago, a lot of data sources collected in the past and currently being collected have been digitized and become easily accessible. Today, it is easy to locate, collect, and analyze digitized data and information that would have taken weeks or months in the past. The expanding access to huge data sets and emergence of powerful and real-time technologies represent opportunities for analysis that were never possible in the past-thus leading to the term “big data.” In a digitized world, big data refers to the things one can do at a large scale that cannot be done at a smaller one, to extract new insights or create new forms of value, in ways that can change markets, organizations, the relationships between various stakeholders, and more. It has been transformative within many industrial sectors and has been heralded as the next frontier for innovation and competitiveness.
