Big Data is all the rage these days. It’s probably the first time in human history that we have gathered so much information about our individual and collective habits that we can actually do something meaningful with the information. Many marketers jump to the chance to better segment demographics and develop archetypical consumption habits to encourage selling more junk we don’t need.
Yes, let’s all catch the mad gold rush to Mt. Spendmore.
But there are better ways to use big data, isn’t there? Many industries are challenged to enhance reliability, reduce costs, and stimulate revenue while using materials and energy more efficiently with big data. This is a step in the right direction, but often overlooked is the ability for these industries to embrace information technology even further to leverage dynamic real-time demand response to optimize process—the whole process of consumption from producers to consumers. While some are using big data this way in small increments, they have not yet fully actualized the social tech’s offering of multi-stakeholder collaboration; and by definition they neglect the bigger picture of why it is important to achieve efficiency, reduce cost, and promote reliability. In my opinion, the end goal is to work our way to less dependency on the more scarce resources and turn our attention to utilizing more of the abundance we already have through collective efforts (trash recycling anyone?).
So while the smart industries are sorting through mountains of information to figure out just how to be more efficient, they are turning a blind eye to combining information to form a dynamic communication method for a new way of thinking about the economy. This I find troubling. Perhaps it’s a mere symptom of linear static thinking that is prevalent in western metaphysics—where Americans seem to believe things are penultimate of the Monadology, Eastern thoughts often resolve to know things are in constant flux, that perfection is impossible because there is always room for improvement; and therefore, things are not as what they seem.
Where does this leave us in terms of innovation? If you really think about creativity and innovation, the components include originality and value creation. But to limit creativity and innovation to individuals is short changing the human race. While a degree of freedom is necessary for the exercise of creativity and innovation, but collective mentality and innovation are not mutually exclusive. I like to think we are somewhat capable of collaborating and creating common core solutions that are, well, ORIGINAL. So when we begin to think of the constant flux of things and the potential that big data offers us in terms of running into the next new big thing (Google for example), we see that the conundrum isn’t in why we can’t think in better ways. Rather it’s more about why we have not yet picked the better pack to believe in better outcomes.