"Big data is the new oil", says CEO of The Futures Agency

“Big data is the new oil,” says Gerd Leonhard, Futurist, Author, CEO of The Futures Agency. “You can’t drive a car with oil or even with pure data. Journalism takes data and makes sense of it.”

– “Big data without Big Meaning is useless, it is just like crude oil,” he says.

Journalism used to be driven by distribution, now it is driven by data. Leonhard says that we are drowning in information but starved for knowledge.

The amount of work required for making sense of data is going to grow exponentially. Even though the journalism industry understands the importance of using big data, it doesn’t know exactly what to do with it, Leonhard says. There is a real challenge for publishers to converge from offline into online.

– Exponential growth is our blind spot, because we are used to a linear world.

Live coverage also on Twitter at @wnmn.org at #bigdatamedia. We welcome your contributions.

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