Data Analytics, Information Analytics, Business Intelligence, Big Data…no matter what you call it, it is quickly becoming a must have for any company in order to gain a competitive edge.
We’ve seen all of the stats about data creation…
- 88 billion Google searches each month…there were 2.6 billion searches in 2006.
- The total number of text messages sent each day exceed the population of the planet by 8x.
- In 2011, 4 exabytes of data was created, more than the previous 5000 years combined.
Those are just a few of the stats from this SAP video infographic, and considering a couple of the data points are from 2011, this too is already outdated. Still, worth a view if you want a quick history of information thanks to SAP.
The fact of the matter is that what a business does with their data is what will separate the winners from the losers. The winners are the ones that will be able to take data and turn it into information.
Everyone has data…only smart companies have information. Another way of looking at this is that in the day and age of the internet and the cloud, every company, organization, political movement, etc is data rich, but only some are information rich. Just watch what companies succeed, what organizations flourish, what political movements win…no doubt they are the select few that are information rich. Of course, it doesn’t stop at information, the next stage is knowledge, and finally wisdom…but let’s all get to information first, shall we?
Who do you think is information rich? Who is information poor?