The hottest tech trend of the year is Big Data, the application of powerful new analytical tools to the mountains of data now being created by the Cloud and by millions of new sensors embedded into the natural world.

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Other areas of high-tech are premised less on breakthrough innovations and more on the application of technology to massive new markets in retailing, advertising, media, financial services, education, publishing, communications, fashion and music.

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Again, I remain fascinated by the application of scientific breakthroughs to low-tech applications.

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Even in this consumer boom that is still the vast majority of all tech spending, though consumer devices like an Apple iPhone with a corporate application, or a company building software using Amazon Web Services, make those distinctions harder.

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