Data Powers Digital Business
The digital economy is driving a massive increase in the volume of data created by devices, business networks, organizations, and individuals. This tidal wave of data is driving demand for capabilities like machine learning and AI, and dramatically impacting economic productivity.
But core to all of this opportunity, is data.
In the new digital economy, data is essential in powering digital business. Data is the currency that provides the foundation for business insight, action, and innovation across the extended enterprise, from partners and customers, to assets and employees, all driven by the digital core.
Companies will need to capture and exploit data in increasingly creative and complex ways. And the ability to digitize business events across customer touch points, partner interactions, asset states and employee activities, and to create meaningful insight, will allow businesses to be more agile and responsive than their competitors, and to open up new sources of value.
On average, companies today use only a fraction of the data they collect and store, and if a company is already struggling to store and analyze its own data, it will be drowning in data in the next few years. Future success will depend on a company’s ability to:
Transform Data into Insight – Data without insight is meaningless, it is essential for organizations to take the information at their fingertips, to understand it, and turn it into insight.