"Big data is something bigger than fits your computer"

According to a Gartner’s study about half of communications, media and service companies at least have a sense of what they will do with big data, says Reuters Institute researcher and conference organizer Martha Stone.

Another study done by IBM and Said Business School produced similar kinds of results: More companies in the UK and Ireland are recognizing the competitive advantage associated with big data. 63% now understand the advantage compared to 34% in 2010.

She thinks that we are on the second stage on a four-stage “Maslow’s hierarchy” ladder. The stages from basic to advanced are: data, information, knowledge and wisdom.

Stone also defined the meaning of big data: It is something bigger than fits your computer. It belongs to the cloud or other big storing system.

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