Petroleum and gas supermajors are sometimes collectively referred to as “Big Oil”, a term that emphasizes their economic power and perceived influence on politics, particularly in the United States. Big Oil is often associated with the Energy Lobby.
Usually used to refer to the industry as a whole in a pejorative or derogatory manner, “Big Oil” has come to encompass the enormous impact crude oil exerts over first-world industrial society.
…i.e. an term encompassing the industry and its corporate interests, too.
Why have I grown to hate the words “big data”? Because I think the term itself is outdated, and consists of an overly general set of words that don’t reflect what is actually happening now with data. It’s no longer about big data, it’s about what you can do with the data. It’s about the apps that layer on top of data stored, and insights these apps can provide. And I’m not the only one who has tired of the buzzword. I’ve talked to a number of investors, data experts and entrepreneurs who feel the same way.
According to Vincent McBurney, ”Big Data” originates from Francis Diebold of the University of Pennsylvania, who in July 2000 wrote about the term in relation to financial modeling. That was over 10 years ago. In the meantime, so much has happened since then with respect to how and what people can do with these enormous data sets.
And big data is not just about the enterprise. The fact is that every company, from consumer giants like Facebook and Twitter to the fast-growing enterprise companies like Cloudera, Box, Okta and Good Data are all big data companies by definition of the word. Every technology company with a set of engaged regular users is collecting large amounts of data, a.k.a. “big data.” In a world where data is the key to most product innovation, being a “big data” startup isn’t that unique, and honestly doesn’t say much about the company at all.
Oh well, it’ll be back…