The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data and the Algorithm Economy: Disruption Built on Data
Data and analytics are driving new innovation in businesses and IT. Data insights are becoming a catalyst for new processes and new businesses. But it’s not only the data that’s important, it’s the algorithms that analyze the data that bring value.
Peter Sondergaard, senior vice president at Gartner, wrote “imagine a marketplace where billions of algorithms are available, each one representing a piece of software code that solves a problem or creates a new opportunity from the exponential growth in the internet of things… As apps have revolutionized human to machine interaction, we’ll see the algorithm economy power the next great leap in machine-to-machine evolution… Products will be defined by the sophistication of their algorithms. Organizations will be valued based not just on their big data, but the algorithms that turn that data into actions and ultimately customer impact. For CEOs it’s a call to focus now on their proprietary algorithms, not just their big data.”
Vinay Nathan, CEO of Altizon Systems, said that “every company can re-imagine its products and offerings to embrace this revolution. Setting up IoT infrastructure with connected smart products is a vital step towards beginning this digital transformation. This may lead to new digital products that open up newer markets or help preserve positions in existing markets. A new revolution has begun unfolding and enterprises that embrace it can leapfrog into the algorithm economy.”
0 comments on “Big Data and the Algorithm Economy: Disruption Built on Data”
1 Pings/Trackbacks for "Big Data and the Algorithm Economy: Disruption Built on Data"
-
[…] Big Data and the Algorithm Economy: Disruption Built on Data […]