The "New Oil" of Big Data - The zeitgeist and alarm bells of the 2010s

The "New Oil" of Big Data - The zeitgeist and alarm bells of the 2010s

In the 2010s, the world shifted to a data-driven society with the spread of smartphones and social networking services, and personal information became so valuable that it was dubbed "the oil of the 21st century. Companies analyzed purchasing histories and behavioral patterns to optimize advertisements and services, but at the same time, the society became increasingly dependent on surveillance. At that time, the combination of the low cost of cloud computing, distributed processing technologies such as Hadoop and Spark, and the widespread use of NoSQL databases made large-scale data analysis possible. This led to the expansion of new fields such as automated trading in financial markets and medical data analysis, but at the same time, cyber-attacks caused frequent damage: the Target data breach in 2013, the Sony Pictures incident in 2014, and the Cambridge Analytica issue in the 2016 U.S. presidential election are symbolic, showing that personal data can be weapon level of d
anger. Related technologies include machine learning, natural language processing, and the IoT, which have created a situation in which all aspects of life are integrated into the surveillance network. Against this backdrop, the warning bells were sounded that big data is not only a resource that can enrich the economy, but can also be an explosive device that can shake society and the nation.

The "New Oil" of Big Data: The 2010s