Big Data is the rapidly expanding mass of information generated by connected devices, sensors, systems, and people, characterized by high volume, velocity, and variety. Beyond these classic “3Vs,” the report stresses two decisive properties: veracity (how trustworthy the data is) and value (its potential to be transformed into useful outcomes). Big Data itself has little meaning; value is created when analysis converts it into Smart Information that improves decisions, forecasting, products, operational efficiency, customer service, and competitive positioning. Increasingly, this value depends on combining internal data with external sources such as social media, public-sector datasets, and cross-organizational sharing.
The same forces enabling new analytics—cloud computing power, Machine Learning Systems, cognitive technologies, and AI—also amplify risks. Big Data can enable identification of individuals in less transparent ways, while training data can introduce bias and many analytic systems cannot explain their reasoning, complicating accountability. Big Data also “turns the classical information lifecycle on its head”: data is often collected before its uses are known, frequently without a clear owner, classification, or retention plan. Externally sourced data adds uncertainty about provenance, rights to use, consent, and integrity.
Security and governance challenges are intensified by infrastructure realities: technologies designed for massive scalability may lack mature security controls, and many IoT devices exhibit weak security, limited encryption, physical exposure, and long lifetimes without upgrade paths. To address these issues, the report advocates Big Data information stewardship: governance that sets ethical objectives and risk appetite, lifecycle management with clear ownership and retention/disposal, an organization-wide stewardship culture, and information-centric security ensuring availability, integrity, and confidentiality with auditable controls.
See All Locations
See All Locations