30b devices will create 44Tr gigabytes of data, by 2020

PHOTO: touque.ca

PHOTO: touque.ca

THERE are strong indications that the world is moving toward an era in which nearly every element of life will be data-driven. Individuals and corporations will sell, donate and trade information on open exchanges. Inanimate objects will spring to life all around us, becoming more aware, responsive and connected. Decision-making will be enhanced by artificial intelligence in ways never seen before, a recent study has revealed.

The study also showed that Information will be communicated and absorbed through multiple human senses and that customers will be able to better control their own privacy through new tools. In this new world order, value will shift from products and services to the information they generate.

The new study titled: The Information Generation: Transforming The Future, Today, conducted by Institute for the Future and Vanson Bourne on behalf of EMC, explored the impact of a growing global community of digital citizens. These individuals are always connected and engaged online, and have the world’s information at their fingertips.

They also view the world very differently. Based on input from 3,600 Director-to-C-Suite business leaders across 18 countries, the study revealed new expectations of these individuals and identifies the fundamental business attributes critical for organizations to successfully compete and thrive in this new landscape.

The study further revealed that 96 per cent of business leader surveyed believe new technologies have forever changed the rules of business. In addition, 93 per cent reported that recent technology advancements are resetting customer expectations, and nearly all say this will accelerate over the next decade. The top reported customer expectations are faster access to services, 24/7 and “everywhere” access and connectivity, access on more devices, and a more unique personalized experience.

The polled business leaders agreed that essential requirements for any business in this information driven era include: Predictively spot new opportunities in markets, demonstrate transparency and trust, innovate in agile ways, deliver unique and personalized experiences, operate in real time.

At the same time, the sampled population agreed that very few have thoroughly embodied them. Specifically, when asked whether they address these attributes both very well and company-wide, only 12 per cent said they can predictively spot new opportunities, nine per cent innovate in agile ways, 14 per cent demonstrate transparency and trust, 11 per cent deliver personalized experience, and 12 per cent operate in real-time.

“The Information Generation is demanding more from the organizations they interact with,” said David Goulden, CEO of EMC Information Infrastructure. “Businesses ‘born of the cloud’ are driving this shift in expectations, and mature businesses must redefine themselves to adapt and remain relevant.”

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