From the 1950 home computer to creating 2.5 quintillion bytes of data daily

The caption from this photo reads:  Scientists from the RAND Corporation have created this model to illustrate how a “home computer” could look in the year 2004.  However the needed technology will not be economically feasible for the average home.  Also the scientists readily admit that the computer will require not yet invented technology to actually work, but 50 years from now, scientific progress is expected to solve these problems.  With teletype interface and the Fortran language, the computer will be easy to use.

Contrast this to the recent article published by the AICPA, where they report:

  • every day we create 2.5 quintillion (that’s 2,500,000,000,000,000,000) bytes of data
  •  the United States needs 140,000 to 190,000 more workers with what they called “deep analytical” expertise
  • and another 1.5 million data-literate managers will be needed

Read more about the concept of Big Data, defined as “data sets that grow so large that they are nearly impossible to work with using traditional database management tools, but yet offer a powerful tool when married with strategic use” at the link below.

http://blog.aicpa.org/2012/07/big-data-presents-big-opportunities-for-firms-and-cfos.html

It has never been a better time to be a financial or information technology professional.  Look what technology has done for us!



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