University of Michigan’s Bernard A. Galler Collegiate Professor of Electrical Engineering and Computer Science, H.V. Jagadish recently coordinated the publication of a white paper on the research challenges posed by big data.
…”While the promise of Big Data is real…there is currently a wide gap between its potential and its realization. Heterogeneity, scale, timeliness, complexity, and privacy problems with Big Data impede progress at all phases of the pipeline that can create value from data. The problems start right away during data acquisition, when the data tsunami requires us to make decisions, currently in an ad hoc manner, about what data to keep and what to discard, and how to store what we keep reliably with the right metadata….The value of data explodes when it can be linked with other data, thus data integration is a major creator of value.”
As the Center on Finance, Law and Policy prepares for its annual conference discussing the role of Big Data in Finance, the white paper coordinated by Professor Jagadish provides key insights into the potential of Big Data and its current limitations. To read the full document, click here.
Citation: Agrawal D., Bernstein P., Bertino E., Davidson S., Dayal U., Franklin M., . . . . Widom J. (2012). Challenges and Opportunities with Big Data: A white paper prepared for the Computing Community Consortium committee of the Computing Research Association. http://cra.org/ccc/resources/ccc-led-whitepapers/