Big Data
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Big Data A Fashionable Topic with(out) Sustainable Relevance for Research and Practice? DOI 10.1007/s12599-013-0249-5 “To make money, you’ve got to predict two things—what’s going to happen and what people think is going to happen.”
The Authors Prof. Dr. Hans Ulrich Buhl () Dr. Maximilian Röglinger Dipl.-Kfm. Florian Moser FIM Research Center Finance & Information Management University of Augsburg Universitätsstraße 12 86159 Augsburg Germany [email protected]. de [email protected] fl[email protected]
Dr. Julia Heidemann McKinsey & Company, Inc. Sophienstr. 26 80333 Munich Germany [email protected] Published online: 2013-02-14 This article is also available in German in print and via http://www. wirtschaftsinformatik.de: Buhl HU, Röglinger M, Moser F, Heidemann J (2012) Big Data. Ein (ir-)relevanter Modebegriff für Wissenschaft und Praxis? WIRTSCHAFTSINFORMATIK. doi: 10.1007/s11576-013-0350-x. © Springer Fachmedien Wiesbaden 2013
When looking at the words of Hal Varian, Google’s Chief Economist and professor emeritus at the University of California, Berkeley, thinking of Big Data seems natural. Big Data – a dictum which currently seems to be on everyone’s lips – has recently developed into one of the most discussed topics in research and practice. Looking at academic publications, we find that more than 70 % of all ranked papers which deal with Big Data were published within the last two years (Pospiech and Felden 2012) as well as nearly 12,000 hits for Big Data on GoogleScholar across various fields of research. In 2011, more than 530 academic Big Data related publications could be counted (Chen et al. 2012). We find more hits for “Big Data” than for “Development aid” in Google, and almost daily an IT-related business magazine publishes a Big Data special issue next to a myriad of Big Data business conferences. In Gartner’s current Hype Cycle for Emerging Technologies (Gartner 2012), Big Data is right on the peak of its hype phase, and according to this source a broad adoption is to be expected within the next five years. Big Data provokes excitement across various fields such as science, governments, and industries like media and telecommunications, health care engineering, or finance where organizations are facing a massive quantity of data and new technologies to store, process, and analyze those data. Despite the cherished expectations and hopes, the question is why we face such excitement around Big Data which at first view rather seems to be a fashionable hype than a revolutionary concept. Is Big Data really something new or is it just new wine in old bottles seeing that, e.g., data analytics is doing the same type of analysis since decades? Do more data, increased or faster analytics always imply better decisions, products, or services, or is Big Data just another buzzword to stimulate the IT providers’ sales? Taking the traditional financial service industry, which currently cherishes huge expectations in Big Data, as an example, the collec
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