It comes as no news that companies are producing data at a much higher rater than earlier. The data transformation flowing in and out of your organization is grown multifold. The overall data so produced currently in the world is 45 time than what was produced in 2005 and is predicted to increase more 9 times in the next 5 years.
This data consists of data crucial to business, dark data i.e. confidential data, useless or redundant and obsolete data as well. It is a known fact that the amount of data flowing in and out of any organization has increased multi-fold. The data flow is 45 times than what it was in 2005 and is predicted to increase about 9 times in the coming next 5 years.
The amount of data created in the last two years is more than that created in the entire human history. Managing this huge amount of data becomes critical for the organizations and proves to be a challenging process. But managing this data is what drives digital transformation.
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“Big Data” has now become a prime area of focus as organizations try to analyze and gain insights from the large volumes of data submerging the business. That large volume includes both structured and unstructured data. There is a continuum that includes people, processes, technology, information, and their relationship to each other.
Artificial intelligence (AI) and offshoots, such as machine learning and deep learning, have emerged as methods to understand these relationships, gain intelligence from data, and support predictive and prescriptive analytics to enable better decision-making.
One of the key aspects of digital disruption and the ensuing digital transformation taking place is the underlying fact that information is an asset. Information is, in fact, your greatest asset from a business perspective. Information-enabling every part of the business allows enterprises to scale digitally in a way they could never before.
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