In God We Trust All Others Must Bring Data

Edwards Deming, the father of modern day quality management, once said, “In God we trust; all others must bring data”. Be it machines, robotics, artificial intelligence, or any other buzzing technology, almost every road in digitopia leads to data. After almost a decade it was first coined by Clive Humby (a British mathematician and entrepreneur), the expression ‘Data is the new oil’ has stunned every stakeholder of the digital economy with the way it has come close to reality. Clive,

the innovator behind Clubcard, the world’s first supermarket loyalty scheme, took the whole world to the concept of data as a resource that holds extraordinary value when it is mined and processed just like oil.

Today, data powers the digital economy and beyond. The research & development benefits big time from data analytics. That’s why it’s not surprising that the new global monopolies are already starting to shape up such as Tableau, Qlik, and Mu Sigma Analytics.

India’s Data Analytics market is riding on a CAGR of 26 percent. Indian Big data analytics sector is expected to witness almost eight-fold growth to reach $16 billion by 2025, according to the National Association of Software and Services Companies (Nasscom). It’s up to the datapreneurs, Chief Research Officers(CRO)and other research experts in our country to use this trend to go for big. This precisely has been a strong inspiration for us to shed light on some of the commendable ‘date powered’ stories of CROs, who have set benchmarks for informed decision making.
Do let us know your thoughts!