HOPKINTON, Mass., April 16, 2015 /PRNewswire/ --
NEWS HIGHLIGHTS
New global research from Institute For The Future peers into the
psyche and impact of the Information Generation
- Leaders (96%) believe new technologies have forever-changed the
rules of business, democratizing information and rewiring customer
expectations
- Business leaders agree on Top 5 "make-or-break" business
attributes essential to keep pace with the Information
Generation
- Research shows very few organizations doing the following
extremely well and organization-wide: 9% innovate in an agile way;
12% can predictively spot new opportunities; 11% deliver
personalized experience; 12% operate in real-time, and 14%
demonstrate transparency and trust
- Leaders admit to limits on current ability to make use of data:
30% are able to act upon their information in real time; nearly 50%
admit to not knowing how to get value from their data; 24% consider
themselves "very good" at turning data into useful insights and
information
- Forecasts major economic, technology, information consumption
and privacy shifts of an entirely data-driven future by 2024
Whether we're working, keeping fit, learning, playing,
purchasing online or watching TV, we are making new digital demands
of the businesses with which we deal. A new study, The
Information Generation: Transforming The Future, Today,
explores the impact of a growing global community of digital
citizens. These individuals are always connected and engaged
online, and have the world's information at their fingertips. They
also view the world very differently. Based on input from 3,600
Director-to-C-Suite business leaders across 18 countries, the study
reveals new expectations of these individuals and identifies the
fundamental business attributes critical for organizations to
successfully compete and thrive in this new landscape.
Not surprisingly, nearly every (96%) business leader surveyed
believes new technologies have forever changed the rules of
business. In addition, 93% reported that recent technology
advancements are resetting customer expectations, and nearly all
say this will accelerate over the next decade. The top reported
customer expectations are faster access to services, 24/7 and
"everywhere" access and connectivity, access on more devices, and a
more unique personalized experience.
The Quest To Redefine: Fundamental Business Attributes For
The Future
Due to new Information Generation-driven demands, businesses
agree that transformation is critical. To be a disruptor – and not
disrupted – business leaders have identified five "make-or-break"
business attributes, all of which have information at their
core:
- Predictively spot new opportunities in markets
- Demonstrate transparency and trust
- Innovate in agile ways
- Deliver unique and personalized experiences
- Operate in real time
While business leaders agree these attributes are high priority,
they admitted that very few have thoroughly embodied them.
Specifically, when asked whether they address these attributes both
very well and company-wide, only 12% said they can predictively
spot new opportunities, 9% innovate in agile ways, 14% demonstrate
transparency and trust, 11% deliver personalized experience, and
12% operate in real-time.
In addition, by 2020 more than 7 billion people on at least 30
billion devices will have created 44 zettabytes of data (or 44
trillion gigabytes), according to Gartner and IDC respectively.
This is rapidly leading to a world in which nearly every element of
life will be data-driven. While businesses know they can get value
from this data, 49% admit to not knowing how to turn all of their
data into actionable information. This includes:
- Even though 70% say they can gain insights from data, only 30%
are always on and able to act upon their information in real time,
and are unable to achieve this very well and company-wide
- 52% admit they do not use their data effectively or are
drowning in information overload
- Only 24% consider themselves "very good" at turning data into
useful insights and information
While companies brace and prepare to meet evolving customer
expectations, the world is evolving at an equally rapid pace.
Institute For The Future has forecasted major macro shifts in how
technology will continue transforming the world by 2024. There are
strong signals of a move toward a world in which nearly every
element of life will be data-driven. Individuals and corporations
will sell, donate and trade information on open exchanges.
Inanimate objects will spring to life all around us, becoming more
aware, responsive and connected. Decision-making will be enhanced
by artificial intelligence in ways never seen before. Information
will be communicated and absorbed through multiple human
senses.
Customers will be able to better control their own privacy through
new tools. In this new world order, value will shift from products
and services to the information they generate.
Executive Quotes
"The Information Generation is demanding more from the
organizations they interact with," said David Goulden, CEO of EMC Information
Infrastructure. "Businesses 'born of the cloud' are driving this
shift in expectations, and mature businesses must redefine
themselves to adapt and remain relevant."
"Our mission is to provide practical foresight for a world
undergoing rapid change – and to help turn insights into action,"
said Rachel Maguire, Research
Director at Institute for the Future. "It's critical that we
systematically explore the longer-term implications of an age in
which information is at the center of everything we do, continually
re-conditioning us in ways we still have yet to imagine. The
world's most information-savvy organizations – if they ready
themselves – will lead one of the most significant transformations
in history."
Methodology
The research was conducted by Institute for the Future and
Vanson Bourne on behalf of EMC.
Vanson Bourne surveyed 3,600
business leaders across 18 countries from mid-size to large
enterprises in nine industries to determine top business
imperatives required for success today and over the next decade.
Institute for the Future led the creation of the study to identify
and forecast the imperatives and shifts in the new digital world.
The research questionnaire and imperatives are based upon in-depth
interviews and workshops with 40+ influential global
decision-makers and experts across multiple industries, with a
diverse mix of academic, industry, nonprofit, and think-tank
leaders.
About EMC
EMC Corporation (NYSE: EMC) is a global leader in enabling
businesses and service providers to transform their operations and
deliver IT as a service. Fundamental to this transformation is
cloud computing. Through innovative products and services, EMC
accelerates the journey to cloud computing, helping IT departments
to store, manage, protect and analyze their most valuable asset –
information – in a more agile, trusted and cost-efficient way.
Additional information about EMC can be found at www.EMC.com.
EMC is a registered trademark or trademark of EMC Corporation in
the United States and/or other
countries. All other trademarks used are the property of their
respective owners.
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SOURCE EMC Corporation