The world does not need more Big Data, what the world needs is “Big Wisdom”
In my opinion data by itself does not have much value. A bunch of random facts will not solve a problem. It is the collecting, analyzing and interpreting data that yields valuable results and insights. Big Data does not just translate into Big Value or Big Insight.
What is missing is wisdom. If we look at a progression: Data to Information, Information to Knowledge, Knowledge to Insight, Insight to Understanding, then finally Understanding to Wisdom that drives our actionable decisions.
We need to expect more however than just data. Our businesses and organizations need to focus on “Big Wisdom.” It takes wisdom to do the right thing, make the right choices which lead to solutions to all types of problems.
You ask, What is Wisdom?
“Wisdom, sapience, or sagacity is the ability to think and act using knowledge, experience, understanding, common sense and insight. Wisdom is associated with attributes such as unbiased judgment, compassion, experiential self-knowledge, self-transcendence and non-attachment, and virtues such as ethics and benevolence. Wisdom has been defined in many different ways, including several distinct approaches to assess the characteristics attributed to wisdom.” https://en.wikipedia.org/wiki/Wisdom
If you have data, knowledge, facts and information then you are far from being on target for success. You need “Big Wisdom”.
To learn more about wisdom, I suggest you read the Book of Proverbs in the Holy Bible. We need Godly Wisdom!