Nesta's Hot Topic event looked at how we can use big data more effectively, as companies and as individuals.

Key arguments:

• Data is useless without some intelligence being applied to it.
• Data can be used to make customers happy by giving them what they want. Retailers are trying to scale up this process.
• Areas that are likely to see the impact of Big Data in the future include other forms of retailing, such as petrol stations, and television. Online targeting was also highlighted as an area of growth.
• Data has huge potential to be used for public services and social good.
• There is a growing urgency to the issue of privacy– consumers and governments are becoming more wary and more demanding. People need to learn about the data they have and how to control it.

In November 2010 Nesta hosted an event to discuss ‘The power and possibilities of Big Data’.

The event brought together Hans Peter Brøndmo from Nokia, Haakon Overli from Dawn Capital, Max Jolly from dunnhumby and Megan Smith from Google to discuss the issues of Big Data with a diverse audience of entrepreneurs, academics, business people and investors.

This report draws together some of the key concepts that were discussed on the day. For the full details, you can watch a video of the entire event. You can also access a list of further reading, videos, case studies and examples on the Big Data resources page.

Author:
Louise Marston