It’s time to accumulate the new gold

I recently happen to attend a Big Data analytics program from Coursera. In one of the sessions out of curiosity I asked the experienced trainer his sense of the future trends in the fast changing world.
He thoughtfully replied “I can’t predict, its moving too fast, technology of today is gets obsolete the next day.” “But one thing is clear” he added “data is the new gold – future belong to those who own the data.”

Recently Yuri Milner a Russian billionaire Investor, who was in news for investing in Alien Technologies told media that he is investing in companies which possess rich data about their customers. Making it evident that data is the new gold.

We are already seeing new age internet companies entering into unchartered territories on the basis of data they possess. They are changing the rules of the game. For example – recently Linkedin launched a new value added service around Social Selling. They are claiming to turn their members into Social Selling Super Star by helping them leverage the data in their access.

No wonder Harvard Business Review called Data Scientist to be the sexiest job of 21st Century. While value of the material gold is coming down, data seem to be turning into gold rapidly.
Those who want to make a fortune might need to accumulate this new gold – Data. Data about their customers, their employees, their partners, carefully, consistently and meaningfully.

Rajat is a Founder, Director at Koyopo, global strengths-based customer and employee experience transformations company. Rajat facilitates customer experience and organisational transformations. He helps build Strengths-based culture in global organisations. Rajat uses a combination of customer-centric frameworks, analytical insights and strengths science for sustainable growth and transformations. He is a Gallup Certified Coach and Asia’s first Certified Customer Experience Professional from CXPA, USA.

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