Data is money: stand by for the Gold Rush

Data is money: stand by for the Gold Rush

Data is money: stand by for the Gold Rush

The gold rush is on again, and once again it is centerd on the American West. The original gold rush started at Sutter’s Mill in Coloma. This time round, it is starting in Silicon Valley, and you will need more than a pan and a slice of luck to find your fortune.

With the big data revolution showing no signs of slowing down, many companies – and more than a few governments - are recognising that it is data itself that will drive the tech products of tomorrow, and are hoovering up vast amounts of the stuff. The monetizing of this data is, for some, becoming a 21st-century gold rush.

Data driven products are, of course, nothing new. One of the more straightforward ways that data has been collected and sold is through health monitoring products, with companies like Fitbit and Jawbone selling devices that track everything from your heart rate to how many steps you take each day. You pay a one-off fee for your wearable device, and you get to see all your own health data. Simple.

Read Also:
Talend Updates Big Data Sandbox with Docker -

Increasingly though, companies are coming up with more ingenious ways to use data to provide services. Now the data itself is of value, rather than the product.

Witness the Alarm.com senior citizen monitoring system, which collects data from the homes of your loved ones and uses algorithms to keep you informed of any problems that might be about to arise, such as erratic behaviour or changes in sleep patterns.

That sort of data surveillance may be a little too Orwellian for some, but it is behind the scenes that data services are really coming into their own. These are not gimmicky products, but instead offer serious data aids and solutions to existing businesses.

For example, an increasing number of companies offer call center CRM services, whereby data on a particular customer is centralized and presented to the operative as they are on the call, thereby helping to provide the service or make the sale. Nest, with its smart home thermostat, collects the data from homes which can then be de-personalized and trends analysed to help manage national electricity and gas requirements. The UK’s National Grid is already beginning to make use of ‘smart energy’ by turning some hotel aircon off for short, unnoticeable periods during peak times.

Read Also:
HPE and Schneider Electric to Partner on ‘Micro Datacenters’

 



Big Data Innovation Summit London

30
Mar
2017
Big Data Innovation Summit London

$200 off with code DATA200

Read Also:
To Use Physical Or To Use Virtual: That is the container deployment question

Data Innovation Summit 2017

30
Mar
2017
Data Innovation Summit 2017

30% off with code 7wData

Read Also:
Using artificial intelligence to create invisible UI

Enterprise Data World 2017

2
Apr
2017
Enterprise Data World 2017

$200 off with code 7WDATA

Read Also:
Talend Updates Big Data Sandbox with Docker -

Data Visualisation Summit San Francisco

19
Apr
2017
Data Visualisation Summit San Francisco

$200 off with code DATA200

Read Also:
CIOs must know their customers to know the business

Chief Analytics Officer Europe

25
Apr
2017
Chief Analytics Officer Europe

15% off with code 7WDCAO17

Read Also:
How Machine Learning is Changing the Face of the Data Center

Leave a Reply

Your email address will not be published. Required fields are marked *