The tech boom has brought nothing short of a revolution in how we approach, conceptualize, and act on data. With entire businesses like Facebook and Google centered on gathering and monetizing collected information, the practical and societal implications of such advancements are slow to follow in other fields. While such changes may be evident enough in finance technologies utilized around the world, the likes which BP Analytics uses, governments in particular have been slow to pick up on how useful this information can be for creating and streamlining services. Lets take a moment to examine a fundamental shift that has recently occurred in Obama finance as big data, and new tech practices, come to Washington.
A Question of How To Utilize Data Effectively
The American government is no stranger to collecting and storing large swathes of information. Estimated to be nearly 4 zettabytes of information total, the challenge is in finding ways to make this information into something useful. As an example, consider financial account aggregation or even website development. Though relatively diverse subjects, both activities make use of big data and industry specific information to create a useful resource for companies.
The government as well has shown the first signs of utilizing its information for creating and streamlining services. Federal organizations help create algorithms with this data ranging from understanding traffic patterns to weather. While useful, this represents just a drop in the bucket when it comes to what big data can tell us.
The Future of Big Data And Obama Finance
What is truly staggering is the incredible potential created when Silicon Valley innovation meets government big data. This past February, President Obama recruited DJ Patil to be the Chief Data Scientist and Deputy Chief Technology Officer for Data Policy. Coming from a successful career working for both Ebay and LinkedIn, the experienced Patil brings to government data is one of practicality. Extending beyond the limits of what the government has already done, Patil hopes to utilize government data to create precision medicine. Along with gathering a medical history, data collected by American government finance as well as other sources could help to create specific treatments that are unique to the individual, pulling on terabytes of information relating to the places and conditions a person grew up in. A combination of nature, nurture, and everything else in between, this service has the promise to revolutionize treatment. For now, all we have is a brief glimpse into what the future may hold.