Excelling in the new data economy

Data is the currency of the modern era, and more of it is coming at businesses than ever before. According to market research company IDC, the sum of the world’s data will grow from 33 zettabytes in 2018 to an incredible 175 zettabytes—that’s 175 trillion gigabytes—by 2025. For companies today, harnessing that data presents opportunities of epic proportions.

“Smart cities, autonomous vehicles, security cameras, and countless other connected devices are generating data that’s ripe for analysis, insight, and impact,” says Jennifer Majernik Huffstetler, vice president and general manager of data center product management and storage at Intel. “And innovations in cost-effective computing will continue to drive the incredible increase in data and its potential value. Data will truly define the future.”

To prepare for that future and derive true business value, companies need to reimagine data management tactics and technologies. They need to harness this massive influx of information—to store it, ensure its availability, and manage it across multiple locations. They need data management practices to ensure data is reliable, and advanced tools and technologies to make sense of it all and turn it into competitive advantage. And they need to do it all in a way that doesn’t break the bank.

“The short answer is that everything must change,” says William Mayo, CIO at the Broad Institute of MIT and Harvard. “The ability to apply algorithms in real time at finely granulated levels to find previously hidden patterns and insights all depends on having an excellent understanding of the question you are asking and the nature of data.”