Data, and our fascination with it, has been around for a long, long time. Early examples of information documentation are found in the Caves of Altamira, pyramids around the world and in leftovers from prehistory. But now the data is coming at us with volumes and pace so furious it is truly difficult to comprehend. Organizations big and small are struggling with data governance, data strategy, data analytics, data security, data gathering, data warehousing, data extracting, data monetization, and trying to adjust to an environment that is changing far more rapidly than a given organization’s ability to adapt to it. Large organizations have cultures that are designed to move slowly and protect policies, practices and procedures, but these cultures and practices are not serving them well in our data-driven age.
This is a problem and not an insignificant one.
We have all read about the growth in the data world, but here are a few more fun examples of our rapidly changing environment:
2.4 billion worldwide internet users and about half of them are in Asia
2.7 billion ”Likes” on Facebook each day
60+ billion Wordpress sites
Today’s environment demands that an organization either uses data to achieve business process improvement or, become a cadaver on the littered highway of dead companies. Each day we generate 2,500,000,000,000,000,000 bytes of data. This is roughly equivalent to all of the words in all of our known languages. We generate this much data every day, but at an increasing rate. Data volume is growing at a whopping rate four times faster than the global economy.