Experts and analysts have asserted that data – not oil – has become the world ’ s most valuable resource . Technology Magazine looks at how the world became driven by Big Data
TIMELINE
1958
THE NEW OIL :
HOW THE WORLD BECAME DRIVEN BY
BIG DATA
Experts and analysts have asserted that data – not oil – has become the world ’ s most valuable resource . Technology Magazine looks at how the world became driven by Big Data
Business intelligence First attributed to Mr . Richard Miller Devens in 1865 , IBM researcher Hans Peter Luhn defines Business Intelligence almost a century later as “ the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal ”.
1928
Storage on tape Fritz Pfleumer , a German-Austrian engineer , invents a method of storing information magnetically on tape . The principles he develops are still in use today , with the vast majority of digital data being stored magnetically on computer hard disks .