I’m excited about the recent buzz around real-time data and its importance in driving today’s business decisions.
I recently attended both the Web 2.0 Summit and IBM’s Information On Demand (IOD) conference. I found it interesting that two very different venues both put a lot of focus on the growing importance of real-time data
At IOD, Stephen Mills, SVP and Group Executive of IBM SWG, was asked about the single most exciting, innovative aspect of Information Management today. He replied that applications today are more predictive because they leverage more real-time data than ever. Technology enables us to deal with larger quantities of data and apply intelligence in real-time to predict the future (and prevent catastrophes such as power outages, epidemics, and terrorist attacks), which help us do a better job of planning our businesses. The net-net is making a “smarter planet” for the future.
Which reminds me of this “IBM Smart Products: Creating Insight for your business” video where I talk about the importance of reporting with relevant and timely data to make your business more competitive.
The Web 2.0 Summit also placed a strong emphasis on the power of real-time data. The closing session featured Tim Berners-Lee and Tim O’Reilly discussing the future of the internet. Tim B-L mentioned how he originally invented the World Wide Web based on a fellowship at CERN where he worked on distributed real-time systems for scientific data acquisition. Basically the internet was invented to be a “sandbox” to find and share data. The discussion then moved to how the Web one day will be powering dynamic applications or widgets that can connect to any data available on the web. I could not help equating this to mashups connecting real-time to real-time web data.
My prediction is that the business landscape is becoming ever more competitive and distributed and real-time web data will be a fundamental necessity for businesses to make real-time predictions.
By: Stefan Andreasen