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Big data impact of 5 6%% of total productivity has been reported in Brynfjohnsson et al. [3] for a sample of companies using data analytics.
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As mentioned in the introduction, typical models of big data impact consider a production model, linking Yi to labour input, Li, and capital, Ki.
Works of this nature have recently been undertaken through the lens of big data investment impact on company productivity, e.g., Brynjolfsson et al. [5], Tambe [6], or still, Bakhshi et al. [7].
The discussion in "Forum-type data" to "Search class data" subsections indicates that the main research direction for big data is the impact of investor sentiments on the financial sector (Antweiler and Frank 2004; Bartov et al. 2015; Sprenger et al. 2014a; Sabherwal et al. 2011).
A 2012 report released by the World Economic Forum, titled, "Big Data, Big Impact: New Possibilities for International Development," outlines some of the possibilities data can bring around the globe to business and education.
Table 1 illustrates the potential impact of big data with examples of a wide range of recent projects.
Fig. 4 Impact of Big Data on Economics of Information.
The capacity to deduce human behaviour and activity in the modern world of big data is impacting on our daily lives, from insurance premiums and health prevention through to online advertising and traffic management.
Social media create a peculiar technological landscape in which the predictive ability that distinguishes Big Data has relevant impact in terms of implementation of social surveillance systems.
Here our main concern is the overall impact of big data; the current manifestation of big data is constructing a Maginot Line in science in the 21st century.
Analyses of extreme weather events and their impacts often requires big data processing of ensembles of climate model simulations.
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Justyna Jupowicz-Kozak
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