Over the past 10 years, Data has become the center of debate for every business leader.
A series of new "must use" terms have been thrusted into our daily discourse: IoT, Big Data, Cloud Computing, Edge Computing, Digital Transformation, CyberSecurity, and so on.
Data Buzzwords...you hear tons of times every day!!! (www.nisi.nl)
All of the above, triggered and generated a new market, whose potential, assessed by Precedence Research, is likely to grow all the way to $1.7T by 2030 with "a notable CAGR of 14.9% between 2021 and 2030"
The major 3 trends that triggered such revolution are:
Lower cost of data storage and computing power;
Expanded Sensors applications;
Accelerated business disruption.
We have been writing about the topic and the challenges of the Data Hype and the interpretation of IoT and its impacts since 2018, anticipating the disconnect that following the hype without a solid business strategy would have created major discrepancies.
Recently, while assisting one of our clients, we had to re-establish the basic business rules about Data to align with core and novel business models.
Specifically, we were exposed to the gaps between our client's clients requests ("make the alarms work") and our client's stretch on available data.
Particularly we highlighted that data is not just another business tool but is a novel weapon that can "cut" if not properly used.
From the Bridging Value perspective data is a SWORD®.
Easy to use and apply
Available when needed
Supporting business decisions
Requiring adjusted and finite resources
Validated for and by the applications
Certified by third parties or against historical trends
Tested and Signed off prior to servicing
Organized in adapted databased (cfr. IBM's Structured vs Unstructured data)
Systemically updated while maintaining historical information
Repeatable over time
Consistent over time
Sharable with multiple and diverse stakeholders
Available across selected ecosystems
A SWORD® Data Strategy relies upon a robust Sensor Strategy. In particular, we developed the Smart Device Score® or SDS®
A Smart Device:
Onboards highly reliable and cost-effective sensors, not limiting the overall Device reliability
Requires limited maintenance
Generates the “right” quantity of “useful” data
Shares data with an adequate latency for the business requirements
Interacts with the local ecosystem
SDS® is consequently based on specific company culture and business strategy and allows companies to:
Score consistently devices within a portfolio
Establish competitive benchmarks
Plan spare parts management
Assess data accessibility
Evaluate data strategies deviations
Data are specific pieces of information extracted from an environment through a set of sensors.
Smart Devices generate Smart Data that are the foundations to establish Sustainable Business Ecosystems.
Ultimately, Data are manifestations of KNOWLEDGE and through the S.W.O.R.D.® approach they become INFLUENCE.
Do not let Data hinder your business!
Let's establish a business-driven data-centered conversation: Reach out here.