Nowhere does this mission have greater potential than in the world of data, where our current capabilities are only beginning to transform the way we interpret and understand our world, at an ever-accelerating rate.
I was joined for the third debate of our new series, The Digital Debates, by Dr Paul Calleja, Director Research Computing at the University of Cambridge, Rik Thwaites, Dell EMEA Alliance Manager at NVIDIA, Dr Carolina Pinart, Group Head of R&D Information Technology at Nestlé, and Jason Smith, Chief Technology Officer, Data and Commerce from Publicis Groupe.
Chaired by TLA founder Russ Shaw CBE, we discussed the changing role of data and how companies can use emerging technologies to innovate with data, particularly small and medium-sized enterprises who are just beginning their journey. Here are some of my key takeaways from our discussion.
The key to success with data is not more of it; we just need better ways of processing and interpreting the data we have.
It is incredible to think that the volume of data captured and consumed worldwide is set to almost double in three years, from 97 zettabytes in 2022 to 181 zettabytes in 2025. Meanwhile, research by Dell Technologies has shown that 70% of businesses are collecting data faster than they know what to do with it.
Clearly, the challenge to solve is not one of collecting data, but of processing it. Organisations – particularly SMEs without in-house expertise – have access to data, but do not yet have the means of interpreting it effectively. Turning data into knowledge and information is a key challenge to overcome if we are to take full advantage of the data available to us.
To do this, businesses need access to two vital insights about their data: what data to use, and when. If we can build knowledge around data processing and provide businesses with the capabilities to extract these insights, then organisations of all sizes will be able to make more informed decisions, towards more effective outcomes.
Data transparency is key
As data has become an integral requisite for successful business performance in every sector, so too has the need to protect that data and be transparent with those from whom it has been harvested.
Consumers can be reluctant to share their data with organisations, without understanding that companies need this data to deliver better products and services to their customers, as well as personalised intelligent experiences that cater to their interests and buying habits. This can only be made possible by data.
Transparent and ethical data-use is the solution to this challenge. If businesses are to have access to the data they need to provide quality products and services, they need to be transparent about how they use it, why they use it, and gain the trust of consumers and customers. In order to unlock the true potential of data, a sense of control and choice must be instilled in the process.
Data is at the forefront of tackling pressing global challenges
While the potential of data is creating an exciting new landscape for businesses, it is also rapidly enhancing our ability to predict and respond to global threats and challenges. From tackling health inequality, to achieving Net Zero; data will play a pivotal role in powering the cutting-edge technologies that will drive progress and affect positive global change.
A particularly powerful example of this was given by Dr Paul Calleja, who spoke about how Cambridge University has partnered with Dell Technologies to build a powerful supercomputer in Africa, collating real-time data from farms across Africa to predict food crises before they happen. At the time of launch, it was Africa’s most powerful supercomputer and one of the top 100 in the world.
At Dell Technologies, we’re forging ahead with our partners to drive human progress through innovation, and this insightful discussion with some of the industry’s key leaders confirmed that data will be at the core of that ambition.
You can register to watch all episodes of the Digital Debates, including this conversation on Innovating with Data, and our previous episodes on the Future of Work and Cyber Resilience, here.
