Big Data
Big Data has been around for many years, just it was hard to process. We can now collect and store data for a fraction of the cost in the past. Gone are the days of storing structured data in Data Warehouses. Now we can store both structured and unstructured data. The real value comes from surfacing insights from the data.
Insights
Governance
When you collect data, you have a duty to the person who owns the data to process and store it in a fair and reasonable manner. The best way to think of it is that you are only a custodian of the data, and that you must take care of it. Governance is about establishing practices and procedures that respect the data and keep it safe, while still allowing reasonable, authorized and premissioned analysis of the data.