Matt's Investments Blog

Big data - the Model T stage

Matt Mead - 18.11.2010

We hosted a lively debate around the power and possibilities of big data

The panel event featured serial entrepreneur Hans Peter Brondmo now Head of Social Software and Services at Nokia, Haakon Overli a Partner at London based VC Dawn Capital, Max Jolly Director of Media Solutions at dunnhumby and Megan Smith the VP of New Business Development at Google and GM of Google.org.

A terrific group brought together to think about the issues around data.

There was a wide ranging discussion but for me the key points to emerge were:

1. The data proliferation is only just starting

2. As the world gets more and more connected and the computing power we carry with us and in future, wear, will just keep increasing and there will be data everywhere -

• Data on health and lifestyle
• Data on our preferences, and us
• Data on locations
• Data on resources and how we use them
• And data that I probably can’t even imagine

This data proliferation will lead to all sorts of issues that we have just started to explore –

• Privacy
• Data ownership
• Trust
• Access for government
• Regulation

And also generational change has a real impact on what is expected and what is permissible – increasingly people view their data ownership and disclosure as a trade off ie if I am prepared to disclose what do I get – this is easier in commerce, much harder I think in health and other new areas.

Model T stage

All in all, as Megan Smith from Google neatly surmised: "We are at the Ford Model T stage of development with data and we have many known challenges to think through and I am sure many unknown challenges as well". 

As a Venture investor this is a really interesting area and we will watch as investments we have already made that touch on this domain like Cellnovo make their way forwards  as well as look for new opportunities to back great companies