As we look at the experience of the average corporate employee, they are becoming overwhelmed by data. This is a global phenomenon with corporate data volumes growing by a factor of 30 over the past 3 years. The average corporation will see data grow by 60% per year that includes both structured and unstructured content.
Shear volume is one thing, data types and sources is yet another. Most corporations can easily handle the growing volume, exponential as it may be; they can simply roll out more storage devices, buy faster processors, and begin to crunch the data to gain some control over it. Though it still poses a problem, it is nowhere near the complexity and magnitude of the problem that the other dimensions pose.
Data types have exploded by a factor of 10 over the past 5 years mostly due to the open protocols as businesses now use to perform every day functions. The move away from big iron has significantly increased the diversity of applications and their underlying technologies and data formats.
Along with that trend, the sources of data have also grown considerably. Organizations now rely heavily on external sources or third-party providers for their information sources. This yielded the third leg of this data content problem, presenting the need for business to grab more data from various locations. The rise in the number of data sources is off the charts with the buildup of the Internet and Web 2.0.
Princeton Information can help you develop new business value by leveraging your data: