The Coming Explosive Growth of Data and Information
Are you Ready?
White Papers | October, 2017
The advent of the Internet of Things (IoT) as well as increading adoption of 3rd Platform technology will fuel the exponential growth of data. Today, we have 3.2 billion internet users generating data. Tomorrow, according to IDC's Worldwide IoT Forecast 2016, we will have 30 billion connected sensors, devices and machines doing the same.
By 2020, global data will grow by 470% from 9.3 zettabytes in 2015 to 44 zettabytes. This growth will be driven by consumers, organizations and devices through their real-time communications and analytics to support contextually aware applications and services.
Information Digital Transformation (DX) is an organization's focused approach to extract, develop, and realize informational value relative to customers, products and services. In the age of data abundance, organizations need to advance their information mastery and transform into information-based companies, to capitalize on information as a source of competitive advantage.
IDC predicts that by 2018, 65% of large enterprises will have committed to become information-based companies, shifting the organizational focus to relationships, people, and intangible capital.
Yet, according to IDC's Information DX MaturityScape Benchmark 2016 survey, only 6% of organizations are in the two most advanced stages of Information DX maturity. A majority of organizations are amid a transitionary conundrum. On one hand, cognitive systems, artificial intelligence (AI) and next-generation big data solutions are increasingly making value extraction from data a reality. On the other hand, more than two-thirds of data collected by organizations are either not analyzed or are analyzed in isolation, according to the 2016 IDC Asia/Pacific Big Data MaturityScape survey. An abundance of data such as social, mobile, location-based and web clicks is not integrated with transactional data to drive contextual engagements and holistic insights. Hampered by lack of governance frameworks, data silos and talent gaps, these organizations are not yet ready to realize value from data; they must transform the way in which data is managed, valued and used.
Mastering data and information will be the bedrock on which organizations build upon to exploit value realization opportunities, which encompasses data monetization and building information-based products. Those which lag in these efforts will be clouded by the information fog of war which thickens continually as data, connected devices, and intelligent machines explode tomorrow.