Business will make money from their data, says IDC

Data scientists may soon find that their skills will be more directly linked to generating a revenue stream within their organisations. The organisations which will thrive in the digital economy will be those that can turn their information assets into a competitive advantage, according to analyst IDC. A recent IDC study of European companies reported that 80% believe they need to transform digitally. IDC’s research also found that analytics is key to the success of digital transformation. Within two years, 70% of businesses surveyed said they would have analytics at the heart of their digital strategy. However, analytics needs to change. Speaking at the Microstrategy Symposium in London, Philip Carnelly, associate vice-president at IDC, said people are using new metrics, expanding analytics techniques and tools such as artificial intelligence (AI), all based around the information assets they collect.