by Angela Guess
Tom Krazit of Structure recently wrote in VentureBeat, “The cycles that accompany advances in computing are fairly predictable. Technology starts off in a lab setting understood by only a brilliant few, then moves down to an informed and passionate early-adopter community, finally making its way to the mainstream once the kinks have been worked out and the interface refined for those without computer science degrees. We’re witnessing that latter transfer right now in the field of data analysis. That may be old news to many tech companies but it’s starting to have its breakthrough moment outside of Silicon Valley.”
Krazit goes on, “Data is a wonderful and tricky thing. Assuming you’re measuring correctly, harnessing data within an organization can unlock benefits you would have never discovered otherwise with older analysis tools. There’s a reason why companies like Google, Microsoft, Baidu, and others are pouring hundreds of millions of dollars into artificial intelligence research and development: they’ve already learned the power of data in the development of their products and services, and the companies that get out in front of the next wave of innovation in the data world will have an advantage.”
He adds, “However, seizing control of your corporate data is not easy for companies that have traditionally depended on more basic forms of data analysis. In a conversation earlier this year with Slack’s Josh Wills (who will be speaking at Structure Data 2016), he noted that, one way or another, ‘data is coming for your business.’ For companies that already have an established data culture — think banks and other financial institutions — adapting to new trends in data analysis is relatively easy, if expensive. But other kinds of companies who have never managed their businesses based on sophisticated data — such as the taxi industry — might be crushed by the rise of more nimble competitors who live and breathe data and who are furiously working to improve their capabilities.”
photo credit: Flickr/ luc legay