What is keeping executives up at night in this rapidly changing world that is affected by big data, digitization, Internet of Things data and so on? Do you think it’s risk, regulation, and compliance? We are certainly worried about these areas, even if we don’t think we are. Everything in our life has some level of risk associated with what we do and how we do it. That level depends on some rules, either rules in the workplace or rules around us.
What are the challenges that contribute to risk factors? When we talk about information management today, we need to be worried that our data can be compromised, the access can be given to the wrong people or the wrong people can gain access to it. Users do require greater access to and control over information. The practices we continue to use are those of the past. They have not yet evolved to take advantage of the capabilities and advancements available now, and they cannot handle the exploding volumes and complexities of the information that exists today. They also do not support needed information-sharing and collaboration in many workplaces. Implementing cloud technology is helping to resolve some of the problems, but many enterprises are still not willing to shift into the cloud environment because of privacy and data protection.
The idea of big data has been around for a while given the mass of information collected from sensors; generated from logs; and created by 3D and 4D tools, business emails, data stored in electronic and paper formats, and transactional data in vertical applications. These legacy data sources still exist even after the data has been collected, cleansed, converted and migrated—just in case the data may be needed again one day.
Consider as well how the mobile Internet became one of the most important trends in our society. Media and Internet connectivity based on mobile devices such as smartphones and tablets reflect the growing demand sparked by the Internet generation for access to information anywhere around the globe at any time. And consumers want more such as a personal assistant with voice recognition to notify when the best opportunity is available for grocery special sales around the corner, for example, or alerts and notifications of important calendar events and so on. A growing number of devices are designed to be networked to help improve customer engagement, despite the rise in security and privacy threats that potentially exists with every new connection.
Companies such as platform providers, content providers and device manufacturers have an interest in gathering data on users and their behavior, including personal data that can be used to recommend content to users or to better target advertising. Such demand is creating an ever-growing amount of personal data remotely in the cloud and services that are designed to access this data.
Chief Analytics Officer Spring 2017
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