In a world where data volumes are literally exploding in size, the winners will not necessarily be those who can "outlift" others in the data processing arena: it will be those who can use information intelligence...
Organisations of all kinds face two uncompromising challenges to their traditional business models and long-held assumptions. On the one hand, economic pressures are forcing the public and private sectors alike to do more for less. These pressures include both the recent economic downturns in Europe and the US, and also the slower – but relentless – tectonic shift in economic power towards lower-cost competitors as a consequence of globalisation.
On the other hand, the information revolution continues unabated, creating threats as well as opportunities. The proliferation of Big Data – from diverse sources including sensors, web logs, multimedia files and transaction records – is spawning whole new industries whilst threatening to undermine others. The volume of data created worldwide is growing at 54% per year: 90% of the data in the world today has been created in the last two years alone.
In this context, gaining an 'information edge' using data is not only a cost effective way of making efficiency savings, but can also be a way of generating new revenue streams and adapting to new business models.
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