EMERGING TECH 04

EMERGING TECH 04
Renewed Recognition of Data as the Driver

Your new business territory is defined by your ability to use data to grasp and analyze current situations and decide upon strategies. To achieve leadership in business, organizations need to go beyond data-driven marketing and secure the technology to accumulate and utilize detailed, real-time data to fuel continuous improvement and machine learning.

Abstract

Data continues to grow and expand. It forms the basis of all kinds of value, informs and guides business decisions and is a resource for the development of new services. Ultimately, it becomes a proof point for one's ability and initiative.
Almost everything on Earth is being translated into data. From the 3D shapes of the Earth's surface and objects seen from space, to the records of people's actions and conversations, data is accumulated continuously based on geographical coordinates. The aggregated data brings up a virtual planet within a map app on your smartphone. Today, with browsing and searching activity helping to guide people's behavior, many businesses are also flocking to mapped data. Any biometric data collected by non-invasive sensors will eventually be organized on a per-person basis. Data from a particular business or domain will be consolidated and organized to a greater extent. There are more ways to use data, and with the help of AI for analysis, the barriers to using it will decrease.
Finally, data is more valuable when it is disclosed. Collecting data through early beta releases for a variety of businesses is now a common practice, but there is also a growing strategy to publish valuable data that is independently collected and highly analyzed. Of course, organizations will continue to hoard data assets internally as a resource for marketing and service improvement. However, strategies to drive standards and metrics in the business domain, demonstrate competence, and encourage the open use of data assets, will expand as a way to strengthen communities.

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