“Big data” has real potential, but the challenge of using it well shouldn’t be underestimated. That’s the conclusion drawn from Morningstar’s deep dive into the topic. The rest of this Fund Spy explains what big data is, who’s leading the charge in its collection, and what investors should expect from it.
Big Data Basics
“Big data” is a catch-all term that covers a wide range of data sets that are too large for traditional data-processing software to handle. These include everything from data that's not in a numerical format--like text, audio, or images--to newer data sources like the location-tracking information captured by some of the world's favorite mobile phones and applications.