As we know that Data is the basic element for computing, this blog focusses on the intensity of data.
When we talk about the Fourth Industrial Revolution just like the first three with steam, electricity and Information Technology, we had a pretty broad impact on the way we live, the way we work, the way we entertain ourselves, the way we communicate, and now this Fourth Industrial Revolution will bring even a broader, deeper impact on all aspects of our lives. It is interesting to look back and say, what is it that causes this transformative impact or what are the confluences or circumstances that bring this transformation about.
And it is definitely technology that connects everything. All these connected entities create lots and lots of data.
World is changing, Data is becoming key input to businesses. The amount of Digital Data in the universe is growing at an exponential rate. The Rise of Real-Time Data - Prepare for Exponential Growth.
Data -> Data Estate
Data
Information that has been translated into a form that is efficient for movement or processing
Data is information converted into Binary Digital Form
Computer data is processed by the CPU and is stored in files and folders and the computer’s hard disk
A Data Estate is simply the infrastructure to help companies systematically manage all of their corporate data.
Organizations can store, manage and leverage their analytics data, business applications, social data, customer relationship systems, functional business and departmental data, Internet of things and more.
You need amazing capacity from an operational store perspective.
The Exponential Growth of Data
Growth of data is exceeding the capacity of traditional computing.
Human and machine generated data is experiencing an overall 10X faster growth rate than traditional business data, and machine data is increasing even more rapidly at 50X the growth rate.
90% of the data that we have today was created in the last two years.
Petabytes of real time data is moved for analytical pipeline.
Latest range to measure the data - Zettabytes is now covering a space of 21 orders of magnitude.
Key Trends Causing Data Explosion
In the early days of the digital revolution, data was produced mainly from PC’s. But moving ahead the new growth will be coming from varied sources.
Today, more than 5 Billion consumers interact with data every day. Many of these interactions are because of billions of IoT devices connected across the globe.
Internet We conduct more than half of our web searches from a mobile phone now.
Social Media certainly fuels data creation via LinkedIn, Youtube, Twitter, Instagram, Facebook, etc.,
Communication Sending texts, e-mails and calls via skype .
Digital Photos Now that our smart phones are exemplary cameras as well, everyone is a photog and the trillions of photos stored is the proof.
Services Request to weather channels, cab drivers, Wikipedia are some of the services.The Internet of Things, connected smart devices that interact with each other and us while collecting all kinds of data, is exploding.
Social benefits like real time fraud detection, efficient traffic flow management between smart vehicles and prioritized traffic protocols for emergency response vehicles and facial recognition for improved security at sporting events or transportation hubs.
Data Growth Challenges
The exploding volume and speed of data growth has introduced several challenges
System management and growing cluster complexity.
Data center power, cooling and floor space limitations.
Storage, data movement and management complexity.
Lack of support for heterogeneous environment and accelerators.
Significant shortage of skills to integrate and manage the super data ecosystem.
Impact of data growth on business continuity and few other challenges are like data security, disaster recovery, and higher costs for the increased data size.
Business must be equipped to manage Data Growth
Business leaders can prosper by embracing new and unique business opportunities powered by this wealth of data and the insight it provides. It is important to understand how to identify and leverage the specific data that will deliver the most value for business.
Some of the focus areas would be:
Manage growth and operational cost of infrastructure.
Provide elasticity and flexible capacity.
Ensure performance for diverse workloads.
Rapidly deploy and scale infrastructure.
Hence, we can say data as the "New Electricity". Business must make a fundamental shift for the forward momentum.
