With hardware technology getting cheaper and software getting increasingly sophisticated every year, data creation, collection and storage has become easier than ever. According to Statista.com, forecasts suggest that by 2030 around 50 billion IoT devices will be in use around the world in the consumer electronics space.
I wonder what the number would look like if we also account for the devices the businesses use themselves.
However, Data Rich Information Poor (DRIP) phenomenon is still a reality. Data is everywhere, yet not every business is using it effectively. With 2020 rapidly accelerating the global digitization, the future belongs to those who are able to lead and “speak data”.
As expert data practitioners, what are your suggestions? In your experience and opinion how can organizations and societies at large become more analyses rich?