During the early decades of this century, "big data" was the driver for what became some of the world's biggest platforms. Massive aggregators like Google or Facebook used their reach to accumulate every scrap of data they could get, and leveraged it to become the most powerful and wealthiest companies in the world.
This was your data, but they got the benefit. In this article, I'll explain how these companies were able to extract so much value from data, and how the economics and technology are changing to favour all businesses of every size and shape.
How did "big data" become so valuable in the first place?
There are two parts to leveraging data - extracting it, and then using it. A decade ago, this took a tremendous amount of money and skill.
Extracting raw data
Companies like Facebook and Google were able to leverage their ecosystem of applications to extract data from their vast userbase. This scale - unattainable by literally anybody else in the world - gave them a massive head start on all subsequent innovations in their business models.
Extracting value from that data
Raw data by itself is only the first step - next, you have to do something with it. This requires a breathtaking amount of money, IP and compute, but the payoff is clear and Facebook and Google remain some of the most powerful and influential companies today.
The end result? These are the most powerful and wealthy companies in the world. And they got their by extracting value from your data.
How big data has become "your data"
Today, seismic shifts in technology mean the pendulum is swinging back in favour of businesses that own the data. This swing is due to the rise of two major new technologies:
- Data extraction platforms and the rise of Data Accessibility
- New reporting interfaces that are powered by AI to bring "conversational reporting" to the masses
Data-extraction platforms
Modern businesses run on a handful of cloud applications, each specializing in a different function like accounting, customer management or inventory. These systems are great, offering highly specialized features which would previously be unattainable for all but enterprise customers.
The downside though is that your data is silo'd across these applications. Worse, in most cases businesses can't actually access their data beyond the handful of reports and CSV exports that the applications provide.
Tools like SYNCHUB unlock these silos and bring your treasure trove of information (information which - by definition - is highly-targeted to your unique business) to your fingertips.
But this is only the first step...
AI and the democratization of information
Until recently, the only people that could interact with this data were BI or SQL experts. But now with AI, we're able to skip this requirement and provide meaningful information and analysis directly to every person in the business. For example, SYNCHUB's AI Assistant & MCP Server lets our customers interact with their data in conversational language - no BI or SQL skills required.
How you can take advantage of this trend
Every business knows they need to leverage AI to stay relevant, but many are unsure how. Tools like SYNCHUB are a quick & safe way to lift tangible value from their business without breaking the bank. Grab yourself a free trial or book some time to chat with your friendly team - you won't regret it.