The digitization of society is generating more and more data. By 2020, a million new devices are expected to come online every hour, resulting in billions of interconnections and relationships, producing more and more data. The rise of social media and the fact that it is becoming easier and more common to store information are also contributing to the explosive growth of data.
Data is stupid
All this data represents some value. But more and more data - "Big Data" - does not give us anything directly. Data by itself does nothing. You have to know how to use and interact with data. The key to harnessing the intrinsic value of data lies in algorithms; a set of rules followed in calculations to achieve a certain goal or solve a problem.
Algorithms are everywhere
Algorithms have become an integral part of our daily lives. YouTube gives you recommendations on which videos you will want to watch, dating sites and job boards find the right matches for you, online stores know which products are of interest to you, and the most famous algorithm of all, Google's, is now a better protected secret than Coca-Cola's recipe.
Take advantage of it
More and more data is becoming available in more and more areas. But it is not the deluge of data that provides opportunities, but how we use the data and turn it into valuable concepts. Algorithms are about insight and knowledge, both crucial to gaining competitive advantage in today's knowledge economy. Those who are creative and can think algorithmically have the future.
As Product Owner, Joan Gaastra has the wheel in his hands at Dysel. He determines which functionality will be developed and where the priorities lie.
