- 1 The Future of Big Data in Business
The Future of Big Data in Business
Digital Transformation in Business
Digital transformation never seems to end and the future of big data in business is huge.
This is an excerpt from an interview I did with David Mathison He is the world’s leading authority on CDOs (Chief Digital Officers) And Ex VP Reuters.
HMRC has now been through the first phase, they now have a new Chief Digital Officer, so the goals that they had for Mark Dearnley and his team you know, they went through all those goals and now they have new strategic goal that they need to hit because there’s a new disruption does your you know as blockchain comes out, etc, etc. Digital transformation really never seems to end you know, because of the disruptions are coming fast, fast and furious.
Big Data is Driving Everything
Data is driving everything you know data literally is driving all decisions real time data to be more predictive and prescriptive with your analysis on anything from you know retail outlets to you know weather affecting traffic patterns and not only physically in on the roads and in the streets but also in stores. After data and within data with bundle you know pretty much AI- DL deep learning, machine learning, cognitive you know both bundle at all in under under data.
Cyber Security is an Ongoing Issue
Cyber security, being an ongoing issue we just had yet another massive breach of this time the Marriott where not only were passwords and home addresses stolen but also people’s passport numbers.
So after the Yahoo breach You know, this is the second largest breach in the world and it continues on and on so how to countries companies, individuals, you know how to individuals protect their privacy, but also how to companies and government organizations get enough information from these people from from us so that they can continue to, to to do business and to provide government services for us in an efficient way without encroaching on our guard, increasing need for privacy and security.
These are the balances and those three things data, digital transformation and cyber security are really our focus.
Checkout my post about AI here https://www.natschooler.com/the-rise-of-ai-first-businesses/
When we first started doing this 2010 or 2011, we kind of made a bet that this was all going to be important.
We’ve gone we’re now in just about every country, we’re just starting to dip our toes in the water of China, it’s huge.
The opportunity there, especially with AI and with security, and we don’t see this going away anytime soon. Especially the data side, which is just way overshadowing the Chief Digital Officer side we’re seeing a tremendous amount of growth in the new hires of Chief Data Officers and Chief Digital Officers.
Big Data Should Underpin the Entire Business Economy!
It’s it is absolutely massive, the future of big data in business and something to ignore at your peril! It’s it’s becoming the actual, well the underpinning of all business enterprises, without those three things and actually keeping an eye on it though there are going to be many more businesses just disappearing and folding.
Allocating Resources to the Future of Big Data in Business is Crucial
Because they’re not going to allocate resources enough you know to to the right areas of the business they’re not going to be able to keep up with demand they get a they get a basically just keep purchasing stuff that they just don’t need at the wrong prices and their competitors are going to put them out business.
I hate to say that exactly. Yeah, no, it’s been happening for the last 10 years and now it’s happening even too. So now we’re at the point where the disruptors are getting disrupted. And by that I mean to the hundred years for Craigslist to put the classifieds out of business and the newspapers basically undercut the entire business model of in an entire industry, newspapers and books.
This shoot shortly thereafter you saw things like especially they got more nuanced by that. I mean not just classifieds like personals but if you think about personal as well Craigslist then got disrupted by by you know plenty of fish and by match.com so that took only 10 years and now you’re seeing like match.com got disrupted by Tinder and Grindr you know we’re all it is it’s swipe right, swipe left.
Disruption is Still Happening in Business
Yes we are still being disrupted and if you want to learn more about this then please visit the link below to the podcast episode that David and I did, it is also on iTunes and links can be found from the podcast site.