I feel as though the conversation around data has accelerated away from many of us in the sense that very few of us really know, or understand what we are saying when we discuss data now.
It’s important, of course - so important!
GDPR, you know?
Don’t forget blockchain, and AI...also did we get machine learning in there?
...and so on, and so forth…
If you haven’t started discussing data, the application, the importance and your strategy at some point in the last five years, you’re either naive, slow or completely lagging behind!
At least that seems to be the general consensus out there when you read industry white papers, blogs (just like this) and various stories about who’s doing what, why and how.
I’m a firm believer in taking a step, or rather, a lunge backwards - data has always been here and will obviously continue to be here. We probably also have a strategy of sorts, even if we don’t legitimately consider it so.
The importance of data lies in our application and the focus of what we truly aim to achieve, and this is where the exciting opportunities start to arise.
Blockchain and the rapidly evolving application of the infrastructure does indeed offer us some truly great opportunities, but that doesn’t mean every organisation needs to develop a blockchain lest they be left behind in a cloud of dust.
Projects such as CryptoCribs, Rentberry and MONI are exciting examples of what is out there and how we can start to change perceptions across the board as well as the increasing possibilities that a truly connected web of services can deliver.
What does that mean for data though?
We are entering a new paradigm where expectations of connectivity far outweigh those we have held in the past, and we are not just engaging with services or providers to receive a product or because we have to, but because there is opportunity to increase the quality of our experience.
Consumers are becoming increasingly aware of how much value they hold with their data, and we as a collective are becoming increasingly willing to transact with our data in exchange for service and experience.
As the emerging solutions start to prove their use cases and capabilities in an increasingly expectant market, the value and opportunity at stake for traditional industries becomes increasingly critical.
Governments have shown that while they are reluctant to jump on board with emerging solutions, they are never adverse to joining forces with smart solutions that offer the potential to streamline resource allocation in environments that struggle to deliver critical services with limited means.
As we see increasing success of projects that are offering digital identity management linked to social services and other functional solutions that have many interface points with industries such as the housing sector, it is inevitable that these players will bring more and more opportunity to how we manage and derive value from our data.
The exciting question is, just how many opportunities will emerge to bring new value to the industry through the increasingly agile application of data that lies ahead will we see in the years to come?
You can hear more from Glenn at our Housing, Data and Analytics Summit, taking place on 9 October, where he will discuss data innovation - the future of data. To find out more, or to book your place, click here.
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