05 Jul The Evolution of the Internet: Information
Last week we shared a teaser on our upcoming series looking at the evolution of the internet. Today we are starting with our first instalment: the Internet of Information.
It was not so long ago that the internet (aka world wide web) was known as “the information superhighway”. The internet was, about 20 years ago, a lightning fast (56 kbps) connection to the entire planet by which you could send and receive all kinds of information. Today’s speed of information transfer, thanks to fiberoptic cable, is mind boggling. The world has become “smaller”. Being able to get instant, real-time access to current events, world news, and contact from loved ones, has changed the world of communication forever. This is the Internet of Information (IoI).
Let’s talk about information for a moment. Merriam-Webster’s dictionary offers one definition of information as “the communication or reception of knowledge or intelligence”. This sending and receiving of information takes place via the four content types of text, images, audio, and video. The volume of information available on the internet is absolutely staggering. This post by Live Science describes research indicating that global internet traffic will hit two zettabytes by 2019 (one zettabyte is equivalent to 36,000 years of high definition video). That is an intimidating concept!
You may have heard that “information is power”, and although this is partly true, the complete picture is more important. Simply having information is not enough. You need the right information, the right volume of information, you need to know how to interpret the information, and you need to know what to do with that information. This is where having excellent data analytics comes in. Having good quality, informative, and actionable reports can provide you an edge to get ahead of the competition. As this article points out, “knowledge is power but knowledge without action can be useless”.
In our blog post, “Analytics for Business Leaders”, we discuss three ways data can grow you as a leader. These are: making better decisions; staying agile; and positively impacting the bottom line. The impact of these three things on a business can be huge and affects all areas within a company. Utilizing information and data effectively in your business is critical in today’s competitive landscape.
If you would like help making sense of the flood of information coming your way and how analytics can give you a competitive advantage to boost your revenue and performance. Contact us today to find out more!