The last few months have been a struggle for many, both on the health and economic front. Without question, the world has rapidly changed.
Consumers accelerated their adoption of underlying tech trends. eCommerce exploded as brick and mortar closed up. Streaming services are a must-have to entertain yourself. Contactless payments are safer than handling cash or cards. Videoconferencing is now ubiquitous across all age groups. These technologies are not new, and were already on the growth curve. But the pandemic fast-forwarded us all into the future.
The other new phenomenon is Data. We just witnessed the “10x’ing” of Data. Data is now widely distributed among the population. Every day, people access the latest news and the first thing they see is Data. How many new cases today? How is the “curve” changing? When do they forecast that we can re-open the economy?
This has never happened before. Never has Data been the headline every single day. And people are now understanding the value of Data. Location data from mobile devices is being used to understand how the disease spreads and safely do contact tracing. Healthcare data is being used to better understand how to treat patients differently. Demographic data is being used to understand infection and death rates across the population. Financial data is being used to understand the impact across different economic sectors and support businesses and stimulus. And companies not in the data business are realizing their data assets can benefit research. Homebase, a planning platform for small businesses, is exposing data to show the impact of Covid on small businesses. When collected and used correctly, Data drives societal benefits and better decision making.
The world is now exposed to Data. Data just grew 10x. And Data will be ubiquitous across all industries, and will propel society forward. Public and private institutions, and even consumers, will all use Data to make better decisions, and make the world a better place. Data is no longer just for the “boogie man marketer”.