Thanks to GE's Brian Courtney (@brianscourtney) who tweeted the link to this interesting blog post by Greg Satell (@digitaltonto) about what you need to know about big data and the opportunities it creates.

In his list, Satell notes that managers need to think of data as a resource in its own right. He refers to three different types of data that companies can collect: Proprietary, Public and Purchased, as defined by McKinsey's James Manyika. Proprietary data is the data which the company owns or could collect. Companies often have - or could have - much more of this data available for improving their operations. 

There is also ample opportunity for new business: Satell gives an example of a company called Bounce.io on how tomake a business out of the data from bounced emails.     

According to Satell: "One thing is clear—there is a growing divide between firms that can manage in a big data world and those that can’t. If you want to be able to compete in the future, you had better start now."

Read the entire article at:

http://www.ideaslaboratory.com/2013/11/12/confused-about-big-data-here-are-5-things-you-need-to-do/