Approaching a new era: The Data Age

Data is the New Oil. It isn’t surprising that we are awash with data. What is shocking is the volume of data, as the “global datasphere” is expected to balloon to 44 zettabytes (that’s one trillion gigabytes!) by 2020, and 163 zettabytes by 2025, which marks a tenfold increase over what was created in 2016 (according to the recent Data Age 2025 IDC report). We are moving at quantum speeds now and fast approaching a new era of The Data Age.

$40,000,000,000 – this staggering number is the value of cognitive solutions that the IDC projects will be in the market in 2025. Artificial intelligence and machine learning have changed our landscape and will continue to do so, as the colossal growth in “analyzable data” feeds these new cognitive systems. From driverless cars (which alone will generate 100 gigabytes of data per second), facial recognition and chatbots to AI assistants – technologies like machine learning, natural language processing and artificial intelligence – hold the keys to a limitless number of uses, making data much more relevant to our lives. And, thanks to massive advances in connectivity and mobile, the number of connected users coming online is expected to hit 75% of the world’s population by 2025. This means that real-time data will explode, enabling the world’s population to interact in ways we haven’t yet conceived.

As with all massive leaps comes the issue of quality over quantity. An explosion of data on this scale will provide new challenges to businesses and individuals. In a new Data Age, context will become the critical variable helping organizations excel and have the greatest impact. When we talk about data as the “New Oil,” it is because technology companies (aka the biggest players who currently control most of the datasphere) like Apple, Alphabet (parent of Google), Microsoft, Amazon, and Facebook, have replaced oil companies like ExxonMobil, BP and Royal Dutch Shell at the top of the market cap food chain. And, with control of data comes great power and responsibility. But, just how responsible are these global ‘borderless’ tech players when they have such massive market dominance, can use the data they control to see trends far before the rest of the world, manipulate the market, and by their very nature, unseat any new up-and-comers?

Data has historically been used to drive business operations, systems and solutions, but today it is becoming an essential element in virtually all aspects of our daily lives. So consumers, governments and businesses alike need to stay on top of what all this really means, who stands to profit from it, how to extract value from data, and how it will morph our very existence. We’ve handed our data (in most cases, freely) to the companies who now dominate. We will need to give serious thought to influencing political will (on a global scale) so that checks and balances are in place as these companies become more and more powerful.

Michael Chase, CMO
St. Joseph Communications


 

How Content Marketing Can Drive Awareness and Secure Funding for Institutions

How Content Marketing Can Drive Awareness and Secure Funding for Institutions

On August 23, in collaboration with The Content Council – our Media Group’s Duncan Clark and Sheldon Shawchuk – two of the architects behind our successful program for the Arrell Food Institute at the University of Guelph – had the chance to host a webinar discussing the strategy, design and execution. Check out the four key takeaways for schools and institutions looking to implement a content marketing program.
 

I’ll Drink to That: Food and Beverage Trends on Facebook

I'll Drink to That: Food and Beverage Trends on Facebook
With over 1 in 3 people in the U.S. using Facebook or Instagram while at a restaurant or bar, social networks have become a rich source of food and beverage related conversations. Facebook IQ analyzed these conversations and surveyed over 1,000 users to understand how consumers are engaging with the food and beverage market. As we share in our new blog post, the insight is revealing in how marketers can use these conversations in their campaign planning.
 
#TRENDING

Inside Walmart Canada’s E-Commerce Expansion Facebook Starts Rolling out Funded Shows for Watch This Woman Memorized All 328 Pages of Ikea’s 2018 Catalog and Will Now Be the Brand’s ‘Human Catalog’
Inside Walmart Canada’s E-Commerce Expansion
Walmart officially announced last week it was bringing its Walmart Marketplace of third-party sellers to its Canadian e-commerce website. Rick Neuman, EVP of e-commerce and technology, breaks down why the move matters and his view on what else is to come.
Facebook Starts Rolling out Funded Shows for Watch
“Health Hacks” with Jessica Alba, “It’s Cool, But Does It Really Work” and “Wiki What?” are a few of the shows part of Facebook’s new initiative through which it subsidizes the cost of episodic video series that users can watch on the Facebook Watch platform.
This Woman Memorized All 328 Pages of Ikea’s 2018 Catalog and Will Now Be the Brand’s ‘Human Catalog’
Ikea’s always found clever ways to bring its yearly print catalogue to the fore. But the 2018 edition is breaking all molds with Yanjaa Wintersoul, the first-ever human catalogue.

The Smartphone’s Future: It’s All About the Camera Christian Kallenberg on ‘Touch and Feel’ in a World of 'Swipe and Scroll' Seven Must-See Can-Con Movies at TIFF 2017
The Smartphone’s Future: It’s All About the Camera
As the new set of iphones to be introduced this month reveals, 2018 will be the year where the smartphone camera takes a quantum leap in technology (think face scanning and augmented reality).

Christian Kallenberg on ‘Touch and Feel’ in a World of ‘Swipe and Scroll’
A speaker at the upcoming FIPP World Congress (at which St. Joseph’s own Jacqueline Loch will also be speaking), the editor of  We Love Mags in Germany champions the value of print within a multi platform strategy.
Seven Must-See Can-Con Movies at TIFF 2017
It can be easy to forget that TIFF is, in fact, a Canadian film festival, showcasing homegrown work from discoveries and established auteurs alike. Toronto Life shares its list of must-see CanCon movies from this year’s selection.

Now, tell us how we can help