Tuesday, October 14, 2014
CUA MSBA Class Visits the U.S. Chamber of Commerce
The Future of Data Driven Innovation
The future of the global economy and Corporate America as we know it lies within the numbers and spreadsheets of "big data." Really a misnomer, "big data" is in its essence not all that big. Hidden within the 1s and 0s of computer code, the information about users, industries, and collected responses drive the businesses of today. Many questions are being raised regarding the ethical practices behind the data collected. How should it be used? How should it be protected by businesses? What role will it play in the innovations of the future?
The Chamber of Commerce's "Future of Data Driven Innovation" event, featured panelists who are all experts within their fields. They gave professional insights on the future of the economy, technology, and legislative policy and how data impacted each of these areas. From smarter cars to more efficient farmers, the speakers shared that collected data can help industries become more technical, efficient and safe. We learned that economies will be able to more effectively forecast stocks and potential earnings using gathered data from consumers, businesses and governments. Furthermore, the goal for cyber securities is the protection of banks and markets that will bolster the trust of investors and foreign traders. It is likely that legislation will govern how data is handled, de-identified, and then used to gear advertising and marketing back to the consumer. Ultimately, the usage of data will help drive corporate growth, continuing the cycle of data driven innovation for generations to come.
Follow this link to read the official report released by the U.S. Chamber of Commerce.
Original post by Sean R. Wilson