Updated: Aug 5, 2021
Today, almost 60% of the world is online, more than 4.5 billion people use the internet, and social media users exceeded 3.8 billion. In the last year, 347,000 new stories were published on Instagram every minute, 147,000 photos on Facebook and 41 million messages were exchanged on WhatsApp. This is a “small” example of the amount of data circulating globally, and how it offers diverse opportunities and challenges to companies that can transform data into performance.
According to IDC, by 2025, there will be an increase in the global data sphere to 175 zettabytes, this means that companies never had so much data at their hands as today, however, the secret is in transform data in performance, in knowing how to use this, structured and unstructured, data and to get relevant information that allows to differentiate from the competition, and improve the business.
At such critical and challenging times, organisations, regardless of the sector of activity, data undoubtedly assume an important role in the business strategies and in the creation of important decision support insights. Giving a transversal view of the company, the sector, the market and the customer with correct, accurate and secure data, minimising errors, in the customised products and services creation, in the mapping of new business opportunities and exclusive competitive advantages.
Today, data is an invaluable resource for all businesses and developing a data strategy can help organisations overcome challenges and access the value of their data while efficiently using their resources, and with lower costs, and make intelligent decisions based on correct and reliable information. But, to achieve data excellence, it's essential that an organisation to have a strong data-driven culture, with a clearly led data-driven strategy.
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