Big data has been touted as solution for everything from intrusion detection to fraud prevention to curing cancer to setting optimal product prices Big Data has dominated tech news of late. It has been touted as a possible solution for everything from intrusion detection to fraud prevention to curing cancer and setting optimal product prices. But Big Data, which we’re defining as data collected in large volumes, at high velocity and in a variety of formats, isn’t a cure-all for every problem. In fact, if companies that believe in some of the myths surrounding Big Data, could head off in the wrong direction, waste a lot of time and money, cost a company its competitive position in the market, or damage a company’s reputation. [ InfoWorld dishes on must-have iPad office apps, essential Android productivity apps, and road warrior standbys. Start downloading! | Get the latest insight on the tech news that matters from InfoWorld’s Tech Watch blog. ] Here are some of the biggest myths surrounding Big Data. Learn More Already an Insider? Sign in Data ManagementAnalytics