General Assembly, Good Stuff!
I just attended my first General Assembly presentation tonight in NYC and I was truly impressed. If all of the presentations are this good, I’ll be attending more in the future.
Tonight, the topic was “The Business of Big Data” by Brad Gillespie, Ben Siscovick (IA Ventures). How do companies harness and leverage the massive amounts of data being produced via the Internet and Smartphones, apps, etc?
Eric Schmidt was quoted recently “From the dawn of civilization up until 2003 human civilization created 5 exabytes of data. We now create 5 exabytes of data every 2 days”.
And it’s exponential. Why are companies now collecting more data on customer activity than ever before? Because it’s cheap.
Storage, bandwidth and CPU costs are declining while network access is increasing.
Some companies produce data and others consume it. Some tweak it and resell it. This slide represents where companies fit in the “big data” landscape.
Many companies are in one than one market with multiple products (i.e. LinkedIn - creating data and providing a data-driven product).
After tonight’s presentation, I tried to give them the pitch for Finster. They were intrigued, but had to give way to the mob of entrepreneurs pitching ideas.
No worries, we’ll keep plugin away. :)
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