  Recent advances in data collection and computational statistics coupled with
increases in computer processing power, along with the plunging costs of
storage are making technologies to effectively analyze large sets of
heterogeneous data ubiquitous. Applying such technologies (often referred to as
big data technologies) to an ever growing number and variety of internal and
external data sources, businesses and institutions can discover hidden
correlations between data items, and extract actionable insights needed for
innovation and economic growth. While on one hand big data technologies yield
great promises, on the other hand, they raise critical security, privacy, and
ethical issues, which if left unaddressed may become significant barriers to
the fulfillment of expected opportunities and long-term success of big data. In
this paper, we discuss the benefits of big data to individuals and society at
large, focusing on seven key use cases: Big data for business optimization and
customer analytics, big data and science, big data and health care, big data
and finance, big data and the emerging energy distribution systems, big/open
data as enablers of openness and efficiency in government, and big data
security. In addition to benefits and opportunities, we discuss the security,
privacy, and ethical issues at stake.
