The Rise of the Data Revolution

  • By Lucy Chacón- Data Ladder, Marketing Content Manager - Jan 31, 2018
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The New Challenges

Currently, we´re witnessing the awakening of a new era, one where it has deeply changed the way we live, the way we work, and even the way we think.

Now humans can collect, categorize, analyze and process information from primary sources like our own genetic information to daily transactions, exchanges and preferences, in an overwhelming speed of growth in a huge volume and a wide variety of data. This allows us to stretch the boundaries, of what was once private.

digital-revolution

Digital Evolution

Information has fast evolved from static to fluid and dynamic, reaching all fields in society and businesses. Are we prepared? Are we, as society, aware that the nature of how we are addressing interactions, transactions, asking new types of questions and evolving as a whole, has been completely reinstalled?

Prediction is a reality as we engage with data mining. Machine learning and Artificial Intelligence is not science fiction anymore. Voice and facial recognition are part of our daily routine. Progressively we are seeing how the amount of data is growing exponentially, at a pace that surpasses our natural ability to harness and understand the infinite possibilities that come with it.

According to the Darwinian evolution, the selection of organisms that most likely survive, are the ones that rapidly adapt to environmental changes, and this new global scenario is not an exception to the theory. As stated by IDC “by the end of 2017, two-thirds of the CEOs of Global 2000 companies will have digital transformation at the center of their corporate strategy”.

However, The Economist Intelligence Unit Digital Evolution Report, says that just “10% of companies currently describe themselves as fully digital”. It´s now a matter of business survival.

The new successful business models

The convergence of needs and outcomes of this transformational revolution, leave great business to figure out how the best of both worlds merge. Luis von Ahn (founder of reCAPTCHA) used a smart crowdsourcing model to provide free high-quality language training based on matching algorithms that helped provide translation services powered by the students that use the app. The perfect win-win, sustainable business case: the Duolingo case.

We used to think that if we happen to be artists, writers, in sports or any other profession non-IT related, we wouldn’t have to deal with technological affairs. Now the landscape has radically changed, we all are now connected by technology, even if we don’t comprehend it. In fact according to Digital Evolution: Learning from the Leaders in Digital Transformation, Economist Intelligence Unit (EIU), 2015 “33% say that their digital transformation efforts have helped them make strong progress in creating new sales channels; 25% say it has helped them make strong progress in accelerating product development.”

Understand, your business is not enough anymore. Is your company fully equipped to face the new challenge? Data Ladder can help you know better about your information and the unexpected outcomes that can boost your company, into the new digital business world. DataMatchEnterprise trial and schedule for a personalized Demo.

Related Sources:

Digital Evolution: Learning from the Leaders in Digital Transformation, Economist Intelligence Unit (EIU), 2015.

The Economist Intelligence Unit Digital Evolution Report, 2016.

IDC FutureScape: Worldwide IT Industry 2017 Predictions.