Equifax is using Big Data to create new analytics products from 800 billion business and consumer records worldwide. Its CIO David Webb was quoted recently by www.cio.com:, ‘We know more about you than you would care for us to know.’
However Equifax is not alone in this game: Rivals Experian and TransUnion also are remaking themselves into analytics companies. “Decision analytics is the growth engine for these companies,” says Elizabeth Mason, an analyst at Outsell, a company that studies the information industry. “Yet it’s a shifting landscape. We don’t know yet what the public’s tolerance is for companies mining all of this data really well.”
What has your editor to say about this: As before it is technology which will change the way we do business and BIG data combined with extreme analytics will be such a game changer. Many new products and concepts will follow, some of which will be seen by the public as being too intrusive. As a late reaction to public outcry, privacy advocates and regulators will step in.
