Data will be an important production factor in the digital world. With customer cards, smartphones, connected cars and Internet of Things devices, the daily amount of data produced is growing rapidly and exponentially.
The smart use of data is one of the most important challenges of the 21st century. Companies are beginning to use smart data methods to search through customer data for hidden patterns. Decision-makers in the business world are giving greater value to data-driven findings, as hard facts carry more weight than vague statements. They also enable the development of new business and service models. In this vein, it is conceivable for satellite images to be used in future to calculate property prices in urban areas.
A propriety management of data is increasingly becoming common practice for many companies. This development seeks to prevent the open data movement. It demands free access to data for more transparency and participation. The secure and ethically correct management of data to ensure protection from misuse by hackers is at the forefront of data usage. After all, the protection of privacy and property concerns the digital sphere just as much as the physical one. The next generation of computers can already be spotted on the horizon and it promises an even better data usage: quantum computers will boost computing power immeasurably and crack the latest encryption methods.