Rated: Data is the New Currency – Mining for Gold in the Internet of Things

Last year, author Dan Valerian wrote a post entitled, Data is the New Currency – Mining for Gold in the Internet of Things as part of Centric’s series on the Top 14 Business and Technology Trends of 2014Now, more than a year later, Dan explores the accuracy of that prediction. 

Prediction:

In our new galaxy of digital information, the value of data and dollars are inexorably intertwined. Data is the new currency and smart enterprises are preparing themselves today with the tools and technology to tap into this treasure trove of information.

Analysis: Pretty close!  

To back it up: reporting on the 2015 Consumer Electronics Show (CES) hailed this as the year of the Internet of Things, with the concept mainstreaming into just about every product highlighted at the show. Also, with the exception of our new hamster, every single one of my kids’ Christmas presents this past year required our WiFi password.

And as far as “data=currency,” let’s “Interview” our friends at Sony about the financial impact of their massive data breach. There was a direct dollar amount associated with every byte of leaked data, to the point where the financial value of the information was indistinguishable from the data itself. At least that’s my opinion!