Managing Information: A Special Report (10 Articles +) from The Economist
The report consists of 10 articles and an audio report. We've excerpted on a couple of paragraphs from a few of the articles. The rest of the articles are linked near the bottom under "Additional Articles." Some excellent material here and for those of you who enjoy and/or use statistics about info, this report has a lot of them in one place. Let's get started.
Wal-Mart, a retail giant, handles more than 1m customer transactions every hour, feeding databases estimated at more than 2.5 petabytes—the equivalent of 167 times the books in America’s Library of Congress (see article for an explanation of how data are quantified). Facebook, a social-networking website, is home to 40 billion photos. And decoding the human genome involves analysing 3 billion base pairs—which took ten years the first time it was done, in 2003, but can now be achieved in one week.
All these examples tell the same story: that the world contains an unimaginably vast amount of digital information which is getting ever vaster ever more rapidly. This makes it possible to do many things that previously could not be done: spot business trends, prevent diseases, combat crime and so on. Managed well, the data can be used to unlock new sources of economic value, provide fresh insights into science and hold governments to account.
[Snip]
There are many reasons for the information explosion. The most obvious one is technology. As the capabilities of digital devices soar and prices plummet, sensors and gadgets are digitising lots of information that was previously unavailable. And many more people have access to far more powerful tools. For example, there are 4.6 billion mobile-phone subscriptions worldwide (though many people have more than one, so the world’s 6.8 billion people are not quite as well supplied as these figures suggest), and 1 billion-2 billion people use the internet.
The best way to deal with these drawbacks of the data deluge is, paradoxically, to make more data available in the right way, by requiring greater transparency in several areas. First, users should be given greater access to and control over the information held about them, including whom it is shared with. Google allows users to see what information it holds about them, and lets them delete their search histories or modify the targeting of advertising, for example. Second, organisations should be required to disclose details of security breaches, as is already the case in some parts of the world, to encourage bosses to take information security more seriously. Third, organisations should be subject to an annual security audit, with the resulting grade made public (though details of any problems exposed would not be). This would encourage companies to keep their security measures up to date.
Wal-Mart, a retail giant, handles more than 1m customer transactions every hour, feeding databases estimated at more than 2.5 petabytes—the equivalent of 167 times the books in America’s Library of Congress (see article for an explanation of how data are quantified). Facebook, a social-networking website, is home to 40 billion photos. And decoding the human genome involves analysing 3 billion base pairs—which took ten years the first time it was done, in 2003, but can now be achieved in one week.
All these examples tell the same story: that the world contains an unimaginably vast amount of digital information which is getting ever vaster ever more rapidly. This makes it possible to do many things that previously could not be done: spot business trends, prevent diseases, combat crime and so on. Managed well, the data can be used to unlock new sources of economic value, provide fresh insights into science and hold governments to account.
Quantifying the amount of information that exists in the world is hard. What is clear is that there is an awful lot of it, and it is growing at a terrific rate (a compound annual 60%) that is speeding up all the time. The flood of data from sensors, computers, research labs, cameras, phones and the like surpassed the capacity of storage technologies in 2007.
[Snip]
Only 5% of the information that is created is “structured”, meaning it comes in a standard format of words or numbers that can be read by computers. The rest are things like photos and phone calls which are less easily retrievable and usable. But this is changing as content on the web is increasingly “tagged”, and facial-recognition and voice-recognition software can identify people and words in digital files.
“It is a very sad thing that nowadays there is so little useless information,” quipped Oscar Wilde in 1894. He did not know the half of it.
This article also includes and interesting and useful chart titled, "Data Inflation."
For example, 5 megabytes=The Complete Works of Shakespeare...2 gigabytes=1 to 2 hour movie (compressed)...5 petabytes=The amount of mail delivered this year by the U.S. Postal Service
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