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Transforming Industry Through Data Analytics by Raghunath Nambiar

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Conclusion

We are currently in the midst of a digital transformation brought about by the combination of ubiquitous low-cost computing power, the global internet, and advanced data processing techniques. As the number of connections to the global network increases, and as the amount of data they produce explodes, the Age of Connected Computing is born.

Harnessing the data through analytics is mandatory in order stay competitive, and in many cases, in order to stay relevant. Remember, only 12 percent of the Fortune 500 companies from 1955 still exist today; the rest did not survive the creative destruction brought about by the steady march of technological innovation.

The current technology disruption is not a one-time event. Change is continuous, and, in fact, the rate of change is speeding up—the time between disruptions is lessening. Each disruption brings about change, which then becomes the standard, embraced by all, and lays the foundation for the next innovative leap.

Today, harnessing the power of enormous volumes of data through analytics must be mastered in order to stay competitive. Those who turn data into insight through analytics will create new products, new services and improved customer experiences. The investment in time and resources is well worth it, both today and into the future as we journey towards the next disruption.

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