We know that by 2020, over 7 billion people and their 30 billion devices will be connected to the Internet. The data generated from this will be more than a thousand times the current data values. This begs the question:
How does this tie into the ‘Information Generation’? What is the impact it is going to have on all our businesses?
The joint study conducted by EMC, Vanson Bourne and ITFT, demonstrates the relevance of the Information Generation in the way it shapes business, data expelled from its interactions and collaborations, the pressure on business to deliver faster, better, cheaper and the mega-effort required to correctly analyze the data, make accurate predictions and meet new expectations. There are several companies like Apple, Facebook, Tesla etc. who are all devising newer methods to keep pace with these digital expectations and keeping engagement at an all-time high.
EMC has found that 96% of business leaders believe that the four megatrends of Big Data, Cloud, Mobile and Social Media have changed the rules of engagement. They have forced businesses and nations to alter the way they think and do business. The C-Level Suite recognizes that the speed of business is changing and so, new and relevant technology must enable information to flow across platforms at these new speeds of business. We are at a juncture, where if we don’t keep pace with technology, we risk business failure or becoming obsolete.
What businesses today are compelled to do is evident:
- They must predictively spot opportunities
- Innovate with agility
- Increase transparency and trust;
- Deliver unique and personalized experiences to the consumer;
- Be ‘always-on’ and operate in real time.
This prompts business leaders to ensure their organization has a digital agenda to ensure they have the strategy needed to deliver on those five mandates. CEOs are increasingly looking to IT as a driver of digital business innovation, growth and the transformation to the ‘third platform’ of computing where business must survive and thrive in a context of accelerated change – and must stay on the right side of ‘digital Darwinism’. The future promises to be both extremely disruptive and rich in opportunity for IT professionals and IT vendors alike, creating new sets of winners and losers across a rapidly evolving industry.
There are some interesting statistics that came up within the study, to highlight just what the Information Generation is intrinsically equipped with and what the business landscape still lacks. (Check the infographic) EMC believes that fast change is the new normal. The seamless ability to navigate the world is already becoming indispensable. This global shift threw up these five revelations:
- Information Economy
- Networked Ecosystems
- Augmented Decision Making
- Multi-sensory Communication
- Privacy Enhancing Technology.
While we give importance to each of these big shifts, we are especially vigilant in protecting the privacy and civil liberties of individuals on the Internet. Compliance with privacy and data security laws is crucial. We fully support Art Coviello’s view when he called upon all nations to ‘Respect and ensure the privacy of all individuals’.
The Information Generation has never before been as relevant, as it has been in the last decade. At EMC we have been part of the change narrative alongside our clients who fast tracked technology adoption. EMC has invested $21 billion in R & D and M & A, and our innovations in Hybrid Cloud, Converged Infrastructure, Data Lakes and Flash are responsible for dynamic business transformations through IT. Our Mandate to our customers is enable them redefine their IT while giving them a choice with leading Federated state-of-the-art solutions.
The question that each business leader needs to ask is a modern version of the old Darwinian Theory: Am I the fittest? Will I survive?