Success of Data Insight–Driven Enterprises in Digital Economy

This article originally appeared on IBM Data Magazine.

Connecting everything to the Internet—the Internet of Everything—brings an interesting problem to the forefront: data onslaught. Examples of data onslaught in the new digital economy includes the 2.5 quintillion bytes of new data collected every single day (and it is expected to increase three times by 2017), or the 2.5 PB of data collected by a major retailer every hour or the fact that by 2015, 1 trillion devices are expected to be connected to the Internet and generate data for consumption.

A key point that almost every organization seems to miss in the data economy is that just because they are collecting so much data doesn’t mean they are collecting the right data, or even enough data. They may be either collecting very little of something very important or not collecting the right data at all. Even more appalling are situations in which organizations collect huge amounts of data and do absolutely nothing with it. People often make the mistake of connecting value with voluminous data.

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