Date Added: May 2013
Like most IT-related phenomena, also the growth of event data complies with Moore's Law. Similar to the number of transistors on chips, the capacity of hard disks, and the computing power of computers, the digital universe is growing exponentially and roughly doubling every 2 years. Although this is not a new phenomenon, suddenly many organizations realize that increasing amounts of "Big Data" (in the broadest sense of the word) need to be used intelligently in order to compete with other organizations in terms of efficiency, speed and service. However, the goal is not to collect as much data as possible. The real challenge is to turn event data into valuable insights.