If there’s one buzz word that’s promised to solve all the monetary problems of every Internet-based startup in the past two years, its “Big Data”. Everyone’s collecting it, everyone’s recording it and everyone’s saving it for tomorrow. From Twitter’s Billions(of tweets) to your Netflix queue and even your Google Search history, everyone’s looking to figure out how to sell you more stuff based on your habits.
But no one’s actually selling the data. The data in itself is useless, no matter how much of it you have. It’s the connections that are formed from it that are important and that’s what everyone is hankering to sell – information. However, all that these companies are trying to do is sell information to advertising sources and point of sales organizations like Amazon because that’s where they can easily get a large paycheck in exchange for a much larger database of customer information. (more…)