We have become experts at monitoring the world around us and capturing information. It’s predicted that by 2025, 463 exabytes of data will be generated every day. Already, four petabytes of data are created every day by people just uploading their lives and stories to Facebook. And the current generation of connected cars generates up to 10 terabytes each of information every day via the array of cameras, sensors, and scanners they carry.

So the problem clearly is not that we don’t have enough data. Without a doubt, we can access the specific information we need to solve whatever business problems we are facing. This might be understanding our customers’ behavior, our own position in the market, our competitors, or the inner workings of our own organizations.

Usually the problem is that we don’t know what data we need and how to extract the value that we need from that data. This is because as much as 90% of the data generated today is unstructured.

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Information is everywhere, so getting hold of it isn’t the challenge. Many organizations already have more of it than they know what to do with. The amount of data in the world is increasing exponentially and will continue to do so as more and more of our working life and social activities are carried out online and in digitally connected spaces.

Today, cars are connected, constantly streaming information backwards and forwards from the cloud, as well as from other nearby vehicles and devices carried by pedestrians. We live in smart cities where public services and transportation systems are all digitally enabled, so utility providers can plan and deploy services more effectively. When we shop online, the way we click through products and services is measured to provide insights for marketers. A visit to the mall means being tracked by cameras and RFID sensors.

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