Today, we are creating as much data every two days as we did from the beginning of time to the year 2000.
And the amount of data we’re creating continues to grow exponentially: by the year 2020, the amount of digital information available is expected to grow from the current 2.3 zettabytes [1 zettabyte = 1,000,000,000,000,000,000,000 bytes] to 44 zettabytes. That’s some BIG data.
To date, we’ve analyzed and used only about 0.5% of those 2.3 zettabytes. And, according to various research, poor-quality data costs organizations 20-35% of their revenue. IBM says poor-quality data costs U.S.-based businesses more than $3 trillion a year. That’s some BAD data.
Big Data and the Digital Transformation are trending hard, producing a lot of pressure to “go digital,” and a little confusion about what that means. But in a world where about 80% of digital-transformation projects are failing – wasting a whole lot of money – maybe we need to back up and think about exactly how and where “going digital” adds value?
For us at ARMS, here’s the bottom line: Digital transformation on its own won’t deliver reliability.
As author Douglas Adams once said,
“We’re stuck with technology, but what we really need is stuff that works.”