Data for increased competitiveness
Within a few years, many companies’ entire reason for being will have to do with management of data, securing data and the rapid analysis of data with associated recommendations. This is particularly true of the market’s largest and fastest growing companies.
Studies shows, that the most important factor for an enterprise in becoming a winner in digitization, is mastery of data flows. Instead of data being simply stored, data becomes the engine in the new business model. Collecting, structuring and protecting data is thus the very cornerstone of technology-driven innovation and an enterprise’s ability to increase growth.
Mastering data requires keeping a close eye on the two focus areas; structure and technology
- Structure is about classification of data, access rights, and regulations. Only five years ago that volume of data dominated the conversations, we used words like Big Data. Now we talk about data from a security and regulatory perspective. Not only of the content but also about who has rights to which data and why.
- Technology is when we put the data to work. The data helps us make decisions, automate processes, or improves the traceability in a transaction, using trending technology concepts like artificial intelligence, Internet of Things, and Blockchain technology.