Big Data Analytics (BDA) Outcomes

      Drawing on literature, discussion, and knowledgeable feedback, we have identified 18 potential effects (i.e., outcomes or impacts) of widening uses of BDA over the next 10 years, focusing on the US.

        We aim to locate these on a 4-quadrant chart to help distinguish important impacts that warrant possible policy actions.  Figure 1 illustrates with mock data for the Likelihood and Magnitude (Importance) of 2 impacts.

Figure1 BDA Effect Estimation Illustration

[Notes:
Point A: Massive data collections combined with increasingly powerful computing and Big Data algorithms improve prediction significantly (e.g., weather, crime)
Point B: Data-based understanding of “grand challenges” leads to substantial improvements (e.g., energy)
Point C: Multiple BDA applications greatly reduce terrorism.
Point D: As resources are deployed more effectively, new sectors open, providing new jobs on a large scale.
Point E: Widespread use of BDA leads to substantial wealth redistribution.
Point F: Overconfidence in data-based analyses leads to critical errors.
Point G: Data compiled for one purpose are misinterpreted in analyses for other purposes to a significant degree.
Point H: Substantial automation via BDA processes reduces analyst and managerial jobs.
Point I: Popular/political backlash against Big Data Analytics leads to major, extremist actions.
Point J: Extensive data sharing by organizations greatly expands inter-organization cooperation (networking).
Point K: Organizations use more extensive and accurate modeling and prediction to meet market wants better (and major profits).
Point L: Organizations must deal with increased security threats due to Big Data & Analytics.
Point M: Organizations compete rather intensely to control data access and use.
Point N: Individual consumers use more data and better analyses to enrich their market options.
Point O: Effective monitoring detects threats earlier, thereby protecting individuals effectively.
Point P:Richer data availability leads to better individual decisions on a wide scale (e.g., smarter shopping, education, and health choices).
Point Q:Privacy abuses escalate substantially.
Point R:As automated BDA processes take over much decision-making, face-to-face human engagement diminishes.
]