There is a rising amount of data generated every day – pieces of information generated from basically every human interaction. As we carry our smartphones, tablets, laptops and fitness trackers, among other connected devices, with us, all the transactions, purchases, searches, page visits and app usage generate huge volumes of data.
We generate data when we drive our cars and when we travel – basically every footstep we take generates data. To this we can add all the data generated from billions of sensors, industrial machinery and complex systems such as an industrial production line, a logistic system or a public transportation system. A single jet engine can generate 1 TB of data in one flight, and 58 Petabytes of data are transferred on mobile networks globally every day.
Thanks to new analytical and algorithmic tools, these rising amounts of data can now be analyzed across networks to enable new forms of collective reasoning for improved decision-making and automated tasks. Organizations can gather and synthesize this data – whether it’s their own, shared or open data – dynamically and in real time, giving them a new resource to deliver insights that were never before possible. However, without trust in the privacy and security of data used in these applications, the potential benefits in these areas will be severely limited.
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