“We’re producing data at an amazing rate. In fact, humans generated more data in 2009 alone than in the entire history of our species up to that year, according to Amazon’s former chief scientist Andreas Weigand. And IT firm EMC projects the quantity of digital information we produce will grow by a factor of 44 between 2009 and 2020.”
Ken Elefant of Opus Capital outlined three market trends that startups are using to enter what he calls the "big data" markets:
- Data Accessibility
- Data Control
- Better Tools, Better Business Insights (Analytics)
Startups have recently gained ground by providing a business model that uses at least one of these three methods. Although this is the current trend of monetizing vast amounts of data, what does the future hold for data driven startups?