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Value of Data: 2018 and Beyond

OVERVIEW

When referencing the growth of data, it’s common to talk in terms of the “three V’s” — volume, velocity and variety. But a fourth V is quickly taking center stage: VALUE.

Quantifying data’s inherent value is the paradigm shift for organizations today – shifting the mindset from data as a mere byproduct of business to an essential and valuable asset for the future. In 2018 and beyond, extracting the value of data has become a competitive necessity.

Accenture Strategy and Western Digital have collaborated on new research that identifies multiple use cases illustrating the essential value of data. We have focused our research on these areas: ​

  • Edge processing enabling remote viewership: Edge computing enables a suite of new technologies such as virtual reality (VR), augmented reality (AR), and holographic solutions that promise a fundamental change in the remote viewing experience.
  • Public safety powered by AI: Integrating artificial intelligence (AI) and analytics with closed-circuit televisions (CCTV) transforms the security industry from reactive to proactive—allowing law enforcement to more effectively combat crime. ​
  • Teaching the future with AI: AI holds tremendous promise to address the education system’s challenge in accommodating a wide range of diverse students and how they learn. It can fundamentally change how education is delivered and make education more accessible.
  • Dark data and hyper-personalization in healthcare: Dark data can drive hyper-personalized health services to generate economic value and improve patient outcomes.
  • Edge processing revolutionizing car safety: Edge computing is propelling safety technology in vehicles, along with onboard computers. These advances could generate substantial benefits for both consumers and industry.
  • Dawn of the IoT data marketplace: By 2030, data marketplaces will be created where IoT adopters, both sellers and buyers, will come together to establish value and exchange IoT data as an asset using blockchain.