Infonomics and the Big Data Market Publishers Need to Consider
March 22, 2016
The article on Beyond the Book titled Data Not Content Is Now Publishers’ Product floats a new buzzword in its discussion of the future of information: infonomics, or the study of creation and consumption of information. The article compares information to petroleum as the resource that will cause quite a stir in this century. Grace Hong, Vice-President of Strategic Markets & Development for Wolters Kluwer’s Tax & Accounting, weighs in,
“When it comes to big data – and especially when we think about organizations like traditional publishing organizations – data in and of itself is not valuable. It’s really about the insights and the problems that you’re able to solve,” Hong tells CCC’s Chris Kenneally. “From a product standpoint and from a customer standpoint, it’s about asking the right questions and then really deeply understanding how this information can provide value to the customer, not only just mining the data that currently exists.”
Hong points out that the data itself is useless unless it has been produced correctly. That means asking the right questions and using the best technology available to find meaning in the massive collections of information possible to collect. Hong suggests that it is time for publishers to seize on the market created by Big Data.
Chelsea Kerwin, March 22, 2016
Sponsored by ArnoldIT.com, publisher of the CyberOSINT monograph
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