Talking about whether data is big or small or something in between is missing the mark.  If the data doesn’t help you start to move through the progression to information, to knowledge and then to wisdom and insight then the size of the data doesn’t matter.  If it doesn’t help to answer business questions in human terms then the size of the data doesn’t matter.  If the 1000’s of data points that are collected to predict the weather don’t lead to your knowing whether to take an umbrella to work with you today then the size of the data doesn’t matter.

Let’s take a step or two back.  Why do we even care about data?  We need to think like business people and ask the right questions for our business.  Once we have a business question or a purpose we can begin to consider the types of data and analytics that will lead us to a conclusion to move our business.  It’s about business and discipline, not data, not IT and not statistics.

I did a quick online search for “data,” mainly graphical, showing the path from data to wisdom and insight.  As expected there were dozens of representations.  I combined about 20 of these into the graphic below.  Although there are numerous horizontal axes, they are all generally consistent in their progression …

…from data (discrete elements, measured points of reality)

…to information (establishing links and relationships, or, answering who, what, when and where)

…to knowledge (establishing connections and patterns, forming a whole, or, answering how)

…to wisdom and insight (integrating the data and analytics with the context of the business situation, as well as, values and principles, or, answering why)

…in order to act.