So what is Big Data and how is it changing/or will it change the world we inhabit? Big Data at the moment is at its infancy. Data which has been collected is being analyzed to solve problems and this is mostly machine data, such as test, repair and manufacture data since it was easily and readily available for collection at the same time the tools (programs) to work with it were also readily available. Once companies have got a handle on this to solve problems with Big Data quickly and efficiently, the next step will be trying to peek around the corner to see problems and issue before they occur - the word predictive comes to mind. At some point in the future, experiments will not be necessary since all the data that was needed for experiment will already exist from the continuous collection of data. All one will have to do is read the data in data warehouse.
Let take a hypothetical, for example Apple (and this could be any company but Apple is ahead of the game) when it introduced health monitoring apps on it iPhone (and iPod). These were great to help people to monitor their health. But there was a disconnect - people are not reliable at imputing data, so there was a big gap between what was entered and what actually happened. If one went for a jog they would take their small iPod which didn't have the health meter and it couldn't collect their heartbeat for example, but it knew how many miles one ran. To solve that problem there is iwatch which is constantly collecting data from the human machine that is wearing it. It knows for example how long that machine has been inactive, oh - I mean sitting on its tush and alerts the user to get moving. Most people who have a wearable data collection watch (be it apple or other wearables) haven't changed their habits, they buy the same food they bought before they got the wearable and drink the same expensive Starbucks coffee in the morning and beer in the evening, so what was the point of spending extra to get the wearable data collection center?...oh yeah....you look cool and have the newest technology.
Oh yeah!, Big Data and predictive analysis was the topic, If Apple was to branch off and start an insurance company they would make a killing since their policy would be so tailored to fit the purchasers. With all the collected data, they would know how long one is sitting, what the heart rate is (and knowing this would give a lot of information as to what activity one is engaged in), what beer one drinks or pack of cigarette one buys (apple pay anyone?) and how often one travels (apple pay/iwatch) using check in data. Apple knows more about its users then the user's parents know!