It’s no good just having data – it’s what you do with it that counts. In five years, one million new devices will come online every hour, creating billions of new interconnections and relationships, and producing more and more data. But these relationships will not be driven by data, but by algorithms.
“Data is inherently dumb,” says Peter Sondergaard, senior vice president at Gartner and global head of research. “It doesn’t actually do anything unless you know how to use it, and how to act with it – algorithms are where the real value lies,” he adds. “Algorithms define action . . . dynamic algorithms are the core of new customer interactions.”
Forget big data, it’s time for big algorithms – and an algorithmic economy. [Read More]