24 May 2018

Data and IoT: The revolutionary change that is taking the world by storm

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Data and the Internet of Things are transforming the way organisations are operated. But what is it exactly doing and where can we see this merge take us?

This revolutionary change is essentially the stepping stone for bigger and better opportunities for organisations. More than 80% of businesses adopting Internet of Things and Big Data have already seen increase in their revenue. 

The remarkable growth in the number of devices connected to IoT and the exponential increase in data generation means the future of Big Data will not be the same. Research indicates that the IoT market will grow to $7.1 trillion by 2020 and the Big Data market will reach an estimated $103 billion globally. The impact of this will be felt in all aspects of organisations and as such will enforce them to consider upgrading their current workforce, systems and technology to accommodate this change.

Data is good – Lots of data is better! Data has now become the bread and butter for organisations who cleverly want to gain a competitive edge in their industry. Using data to optimise your business revenue is now considered a fool-proof plan to success. Patrick Wright, Chief Technology and Operations Officer from NAB stated “Data is the digital currency of our future”. The faster organisations take this ‘mantra’ on board, the easier it will be to get ahead and drive business value.

With all this data being generated, organisations are now focussing on transforming themselves into Data Powered organisations. Empowering themselves with data and equipping themselves with workforce and business analysis means that organisations have found a strategy to continuously outgrow themselves.

Ultimately, statistics, metric calculations and data analytics is the road to take to ensure future growth in workforce, infrastructure and business revenue. 

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Written by: Vishi Peters 

Vishi is a Conference Producer of Akolade’s Government and Digital portfolio. She has a strong interest in current affairs and enjoys giving an educated opinion about emerging trends. She is passionate about photography, enjoys playing cricket and cooking different cuisines and expanding her knowledge of food.  

Follow me on LinkedIn for information regarding future Akolade events as well as future blogs posts Vishi Peters

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