No one doubts the fact that data volumes are exploding. In fact, more data has been created in the past two years than in the entire previous history of the human race. It is estimated that by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. By then, our accumulated digital universe of data will grow from 4.4 zettabytes today to 44 zettabytes, or 44 trillion gigabytes.
Businesses talk about their data and how it will help their business – it can give them insight into their customers, helps them make better informed decisions and gives them a competitive advantage. All things that add value to their business. But what you don’t hear as often is how they are actually using the data they are collecting. In a recent report from Pricewaterhouse Cooper (PwC) and Iron Mountain, most companies have a lot of progress to make before they can start making better use of their data. While many organizations are confident that they have the capability to extract value from their information for commercial and operational advantage, few are able to mine information to its full potential. In interviews with 1800 senior business leaders, research found that most organizations lack the required skills, technical capabilities and culture to gain the greatest advantage from their information. In fact, 76% of businesses extract little to no advantage whatsoever.
So what are all these businesses to do with all this data? Business leaders need to focus on figuring out how to take the data and boil it down into easily digestible formats for internal use. It’s all about “having a strategy for data management” says Sue Trombley, Management Director of Thought Leadership at Iron Mountain. For many organizations, that may be easier said than done. Big data forces them to address both strategic and operational challenges including information strategy, data analytics and information management.
So how do you help your clients manage solve these issues? That’s where your Ingram Micro Link membership can help you. Leveraging the expertise of Ingram Micro Link members can uniquely position your business to help your client solve their big data and analytics challenges through their professional services offerings. Reach out to these members to learn more.