Entrepreneurs, will you thrive in the near future, that is under construction right now? Experts say, if you want to scale your business in the new digital age, you need to get serious about data. As consumers are going digital in nearly every area of their lives, data is expanding at an unprecedented rate. Cheaper and faster next-generation data stacks, further augmented by machine learning capabilities, keep growing.
Inherent in the data driven economy are many opportunities for innovators and entrepreneurs. Digital technologies and access to data can help businesses connect with customers and markets and help reshape management systems. It can even help in innovation of new products and services.
Success will depend on how well businesses meet the challenges. These may pertain to source of data, where it is obtained from and how biased the data is. Often data use has failed to deliver expected results and we need to better understand use, misuse, and non use of data. Surrounding political and legal landscape may also influence data driven economic activities in unexpected ways.
Successful entrepreneurs will have to quickly digest the rules of the data driven economy. Phil LIbin is co-founder of Evernote, a company launched just 5 years ago and now valued at over $5B. Evernote is an electronic notepad that you can access on your mobile phone or computer and it now has over 90M users. Libin will give a keynote address in Data Economy track at TiEcon 2015. If you are an entrepreneur, don’t miss TiEcon 2015, largest entrepreneurship conference, in mid-May, in the heart of Silicon Valley. Come to network, learn, and get inspired. Register at https://www.123signup.com/register?id=ygszb&ref=4182698 to get a $100 discount on the two-day conference at the non-member rate. When prompted, enter the promo code VOL500 at checkout: