Data is a new resource, without which our daily life is no longer conceivable. Companies realize this as well, and they now classify data as a strategic asset.
This fact gives rise to new strategic opportunities, but also to obligations, in the form of changing regulatory requirements, for instance. According to a study compiled by a renowned disk drive manufacturer, around 163 zettabytes of data will be generated in 2025!
The volume and diversity of the data being generated have already irreversibly changed how enterprises make their decisions. New data analysis methods are taking over ever more fields of business, from management to sales, from marketing to customer relations. Wherever you look in a company, data is procuring valuable competitive advantages.
But the benefits can only be truly exploited if top quality and transparency of data are ensured in addition to their rapid availability. This is a challenge, especially for companies, because their data is big, short-lived and widely dispersed. So good data management and comprehensive data governance are keys to enabling companies to use data to generate competitive advantages for themselves.
*1 zettabyte = 1021 bytes = 1 bn terabytes