Decoding Data Black Box
Data, Data, everywhere—But how to derive value out of data? Organizations today are drowning in data deluge. Data is the lifeblood of organizations, but some of them are still struggling to fully unlock data’s vast potential and some don’t have the future data dynamics roadmap.
With a mammoth amount of data available with us today, it’s very difficult to know where to start with it all.
Every day, we are creating 2.5 quintillion bytes of digital data. According to IDC, by 2025, the worldwide data will grow 61% to 175 zettabytes from 33 zettabytes, with as much of the data residing in the cloud as in data centres.
Here, organizations need to gauge what exactly they want to achieve from the outset, they need to know where to look, and how to derive a lot of value out of data, helping in business decisions no longer on hunches, but on the basis of solid data-driven facts.
Data is the golden asset of organizations. And, therefore, organizations need to take a broader view of data ingested, as well as need to make smart choices on data integration, storage, governance, privacy and security.
While the value of data has evolved tremendously over the past 20 years –only few companies have adjusted their approaches to identifying, capturing, sharing and managing corporate data assets.