Smart Data Is About To Change Your Life

There are signs the economy is improving as companies increase sales and profits and start to create more jobs. Exports are growing and technology continues to present opportunities as new industries develop. One new area of growth lies in the use of data by companies to increase sales and profits.

The management of data is creating a new industry, as businesses uses technology to capture information to influence the behaviour of customers.

The idea of managing data is a global and growing trend and one that is creating opportunities for the companies, organisations and people that embrace it.

It is estimated that the amount of data produced every two days is now equal to the amount produced up until 2002.

The volume of data will continue to increase given our use of digital and social media and as countless smart data points and machines connect and communicate with each other to make our life easier.

Senior managers and business owners often use experience and ‘gut feel’ to make decisions but increasingly data analysis is seen as a more effective way to make more informed and better decisions.

Given the increased use of technologies such as the smartphone, social media, the internet and, more recently, the cloud the volume of data is growing rapidly and dramatically.

The digitalisation of so much information and the use of technology in every aspect of our life mean that huge quantities of data are produced every day.

The amount of data is growing at such a rate that the ability to analyse and manage it in a way that adds value is becoming a key skill and a significant area of growth for jobs.

Data is joining traditional business assets such as land, property, brand and intellectual property as a key source of competitive advantage and wealth creation.

Large retailers, healthcare providers, city government officials and many other industries are already using data management to gain insights into how to manage resources more effectively.

The economic climate will continue to be challenging and companies that want to succeed will need to realise the importance of collecting, analysing and leveraging their data.

SO, the era of smart data has arrived and with it the ability of organisations to influence our behaviour and our choices.

What about you?

Is smart data changing your life?

Look forward to seeing your comments below.