In the past decade, data volumes and the demand for data have grown exponentially. Businesses have experienced fundamental changes to the way data has been collected, managed, viewed and used.
Check out this infographic to learn about the evolving role of data to a car. Specifically:
- Data as exhaust. Historically, many tended to think about data as the exhaust of a process. It was the output of apps and interactions. There are many examples of this, but a basic illustration would be the use of an online form that enables leads to register to attend an event or request access to a resource. Every website visitor interacts with the same form, submits their details and data is collected.
- Data as engine. Over time, data came to be viewed as part of a backend engine. In this scenario, data is combined with hard-wired programming logic to deliver interactions, content or functionality. For example, based on a search term submitted, a web page can feature basic customization.
- Data as a brain. Now, data needs to be the brain, functioning as the equivalent of an AI-powered, self-driving car. Rather than basic, programmed customization, data needs to power interactions and even business strategies and new business models.