These challenges are evident in research from Tele Tech which shows that 95 percent of telco businesses collect and store multi-dimensional customer information, but only 60 percent are able to transform it into usable form. At the same time, 30 percent are able to regularly identify value generation opportunities from it and only 20 percent are able to turn the opportunities into action. If data isn’t integrated, analysed and acted upon across all sources companies will never be able to unlock the true potential of their customers or operations.
The long term challenges can be especially daunting: At the current rate of digital information production, Seagate
predicts that by 2016 the world will be producing more digital information than it can easily store. By 2020 a minimum capacity gap of over six zettabytes - nearly double all the data that was produced in 2013 – is predicted
The world needs novel solutions to manage the information explosion.