| |DECEMBER 20248CIOReviewData is a valuable resource.Information is the most valuable resource in the 21st century. The Economist claimed, "The world's most valuable resource is no longer oil, but data." However, like oil, data cannot be used unless it is refined. Data needs to be decomposed, analyzed, and converted into insights to retrieve value. Today, almost all mainstream industries and businesses are on various stages of digital transformation or data-driven processes to reshape how they communicate with customers, reassess the health of their finance and operations, and renovate their decision-making methodologies. The businesses are competing to obtain and digest as much information as possible. However, this empowers companies to retrieve more information and brings growing pains to businesses managing 10 or even 100 times more data volume. Businesses need an optimized Data Management strategy to efficiently deliver the right data to the right users at the right time while mitigating the costs and risks brought by overflown storage. Technologies are crucial. We live in a connected world.The people in the 21st century live in a more connected world. We do not have to rely on a single solution to gain value from our resources or satisfy our needs. We can order Uber to catch 5 AM flights or rent a house for vacation on Airbnb to avoid crowds in hotels. We can manage our assets through smart devices even when we are thousands of miles away. We can share a bad shopping experience with friends all over the world or recommend services we had great experiences with. Almost all industries are developing online-offline networks to provide consumers with connected living experiences. Industries and businesses are competing to invest in new technologies like Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) to proactively predict customer needs and provide a better traveling experience. Very soon, we will no longer need to spend days to plan our trips and struggle through airport check-in nightmares when we travel. Airlines, hotels, and Online Travel Agencies (OTAs) are endeavoring to provide the most relevant tickets to their frequent travelers. Airports continuously invest in renovating security check systems, optimizing luggage management, and local commute strategies. These innovations are achieved with biometrics, AI, and IoT technologies. Similarly, Banking and Financial services compete to provide various intelligent products to By Dr. Yingying Kang, Director of AI & Data Science, AssurantA MODERN DATA STRATEGY FOR A CONNECTED WORLDIN MY OPINIONIN MY OPINIONIN MY OPINIONIN MY OPINION
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