Revealed: Do we now have available the most valuable currency “ever” (potentially)
The title of this blog may seem somewhat sensationalist (probably). It was driven by my recent retail consumer navigation (“last minute present time”), common to many through the Christmas season to date. And the aforementioned “valuable currency”, first off to avoid the numerous cries of foul, I will eliminate the obvious and fundamental elements for life (air, food, etc) from the rather grand boast of the title. But I hope on conclusion of this brief scribble its clear why I hold this special “currency” in such high regard.
From the dawn of not just modern society, but any society, humans traded in some way, shape or form. Sellers sought to seller their wares to buyers keen to buy (and sometimes not so keen) with the optimum marriage, a product available for sale at the perfect time (and price) to a surplus number of buyers. The final element has remained the sales Holy Grail and to realise that seller buyer perfect relationship the profession of marketing rose from the ashes with the impossible task of stargazing the wants needs and desires of all. That truly impossible task became probable as marketers leveraged science and human psychology to bind products to potential target customers and often with amazing degrees of effectiveness and accuracy. But still when questioned industry leaders continued to question marketing effectiveness often citing return on investment and other metric driven formulae for less than perfect results. Until now….
Through the advent of a perfect storm of IT systems at the right price / performance levels, secure enterprise grade connectivity “everywhere”, advanced analytical algorithms / models with near human insight, data structures / repositories capable of previously unimagined data storage / manipulation and finally digital data generated by “things” we now have realised our own “digital alchemy” use to create the most valuable currency ever – “big data”.
At this point after such a monumental build up, the temptation for you to yawn and hit delete may appear (suppress it), but that is somewhat premature with more of the story to unfold.
My Christmas social and retail journey is a current storyboard of the stealth like use of big data today that helps to optimise many of my interactions with people and systems. Websites that know who I am and offer me gift ideas aligned with the season for friends and family based on my past purchases and an awareness of their demographic. Retail stores track my in store movement as a mobile user and leverage my location and browsing habits to make products for sale more attractive to me (via price or enhanced visibility). Payment systems utilise my smart watch which in turn leverages multiple data driven security authorisation/authentication and financial information stores to validate me based on behaviour, location and activity to confirm that I have indeed attempted a financial transaction. I could continue and include my previously low tech bank debit card that has now unleashed via contactless transactions has the potential to be much much more in future. And the unifying factors behind it all, secure network connectivity of people to things to allow them to do previously unimagined “things” but with real-time availability / accessibility to a bordering on human store of digital data insight we now called “big data”. The highly pervasive, always on, now always everywhere, NETWORK is making big data – bigger!
Big data is no longer a “fad” or something leveraged by others – it is fast becoming “the” most “valuable currency” ever. It has the potential to digitally stargaze via advanced data analysis & data joins and deliver a result at an accuracy level and a speed impossible for a human (or banks of humans) to achieve (have a quick look at IBM Watson). Now is the time to make big data less of a conversation for technologists and instead the heartbeat of business. At Computacenter we are not waiting, we deem it so paramount we have our own data analytics Chief Technologist (welcome Aleem Cummings, look out for his blog). The importance enterprises are now placing on the need to leverage and maximise big data to propel business forward makes it a top “C suite” priority.
The network provides the secure connectivity layer to allow “things” to interact with other “things” and for humans to personally, socially and emotionally benefit from that interaction (I promise no mention of IOT, ooops too late). And the information created with that data whether small or big will be the “digital currency” that delivers evidence based proof of value.
Big data doesnt just help to create / find answers its so valuable it can be extracted and traded in its own right. And if this digital, big data is such a value personal and business asset, validated security and secure interaction becomes a precursor to future success. “but is it?”. One for another day I think.
Until next time
Merry Christmas and a prosperous 2016
Colin W @colinccuk – Chief Technologist, Networking, Security and UC.