I saw this tweet earlier this week:
Without a doubt, data IS the new oil. The world is awash in it. We’re flooded daily with news, data, sound bites, tweets, status updates, check-ins, photo shares, pinterest points and the list goes on. Sure, we have more information but are we more informed? Hard to tell.
I do think that fragmentation and access to many communication channels have complicated rather than simplified our ability to synthesize data and information efficiently. Today, it’s more difficult to assess and curate good information from the torrent storm of data that is available to us.
That’s why data-analysis type business models are becoming more important in today’s world. Even as Steve Jobs correctly described that the Internet “will destroy vast layers of the economy” (Smithsonian Interview: April, 20, 1995) delivering a dramatic re-ordering of business process, it has also created a growing need for data analysis tools to comprehend what’s going on.
At the GSMA Mobile World Congress in Barcelona this year, I saw three key areas that were prominent:
- mobile marketing
- mobile payments
- DPI - deep packet inspection visualization platform solutions
What’s the common thread between all of them? Data and analytics. Data is everything. As the tweeter said, “processed and refined, it powers the world.”
One of my favourite new companies is Visual.ly because it marries data on the web and infographics to visualize data and trends. In my first test run of the platform, I decided to use twitter data to compare characteristics between two key profiles.
I used the twitter profile for MobileMonday Toronto (@momotoronto), a leading wireless industry networking association I co-founded in 2005, and compared it to our sister chapter, MobileMonday Tokyo (@momo_tokyo), since we announced a joint-platform partnership to co-promote our mobile ecosystems and cities. (More info here from our press release: http://mwne.ws/HhUJt4)
The end result was an infographic that was illuminating and funny at the same time. (See below or an enlarged image here: bit.ly/HoXT2y) It also quickly highlighted some key differences between the twitter profiles that I would not have been able to easily distill without a powerful tool like Visual.ly. Data is the NEW OIL.
Kind regards, Alexander S. Bosika, t: @abosika