Will Big Data Revive the Economy?

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You’d be forgiven for feeling a little jittery about a world economy is driven first and foremost by data. As news headlines regularly confirm, we’re climbing a pretty steep learning curve right now, and lots of people are worried about how safe their data is once it’s floating around “out there.”

But the truth is that big data stands a good chance of reviving and even completely remaking the global economy. It’s true that the world’s cryptographers have yet to build hackproof encryption and the internet itself might be due for an upgrade, but data is here to stay — and the global economy won’t be the same after we get a better handle on storing and managing it. Here’s a quick look at what that world could look like in a data-driven economy.

Data Is the Lifeblood of the Global Economy

When most of us think about the collection of big data, we usually think about marketing first. It seems like the only purpose of amassing data is to more effectively part consumers from their money — right?

Not so fast. Data is the lifeblood of the modern global economy for far more reasons than its usefulness in targeting marketing content to consumers. …

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