According to Dr. Mike Lynch, CEO and Founder of Autonomy, computers are getting closer to human intelligence by being able to understand concepts and therefore make valued judgments in real time.
If technology can derive a meaning from a variety of data, be it video, voice, text or images, it has the potential to fundamentally change the world we know and in a time of economic uncertainty, the ability to use technology to spot the "unknown, unknowns" as Lynch puts it, will be regarded as a "super power".
On a daily basis 2.5 quintillion bytes of data are collected and 90% of all data that exists today was collected over the last two years alone. The potential value of understanding this information is enormous.
With data now being collected from a variety of platforms and much of it being unstructured data or âhuman information' such as email, video and audio, traditional databases for housing data are becoming redundant. Organisations will now have to take a new approach to managing and understanding their data.
Dr. Lynch takes the example of online retail. Huge potential lies in the availability of data on customers and potential customers through browsing and purchasing habits, but this information is only of real value if decisions can be made from this in real time. Oganisations need to be continually changing their organizations if they want to keep up with their customers demand. These thousands of customers create thousands of data points daily which results in a huge amount of collected data, much of which will be unstructured, such as content and sentiment of a product review, which cannot be neatly slotted into a data base.
The key is to again an understanding from all of this data in order to create an infinitely scalable platform and a powerful basis for analysis and action throughout the entire enterprise. Being able to process 100% of this data – not only the structured and âneat' 10% – will allow companies to unlock real business value.