Mining Data in Motion by Chris Nott says: “…The scope for business innovation is considerable.”
Or in context:
Mining data in motion. On the face of it, this seems to be a paradox: data in motion is transitory and so can’t be mined. However, this is one of the most powerful concepts for businesses to explore innovative opportunities if they can only release themselves from the constraints of today’s IT thinking.
Currently analytics are focused on data at rest. But exploiting information as it arrives into an organisation can open up new opportunities. This might include influencing customers as they interact based on analytics triggered by web log insight, social media analytics, a real-time view of business operations, or all three. The scope for business innovation is considerable.
The ability to mine this live information in real time is a new field of computer science. The objective is to process information as it arrives, using the knowledge of what has occurred in the past, but the challenge is in organising the data in a way that it is accessible to the analytics, processing a stream of data in motion.
Innovation in this context is going to require subject recognition, whether so phrased or not, and collation with other information, some of which may also be from live feeds.
Curious if standards for warranting the reliability of identifications or information in general are going to arise? Suspect there will be explicit liability limitations for information and the effort made to verify it. Free information will likely carry a disclaimer for any use for any purpose. Take your chances.
How reliable the information you are supplied depending upon the level of liability you have purchased.
I wonder how an “information warranty” economy would affect information suppliers who now disavow responsibility for their information content. Interesting because businesses would not hire lawyers or accountants who did not take some responsibility for their work. Perhaps there are more opportunities in data mining than just data stream mining.
Perhaps: Topic Maps – How Much Information Certainty Can You Afford?
Information could range from the fun house stuff you see on Fox to full traceability to sources that expands in real time. Depends on what you can afford.