“Datafication” is a new term used to describe the process of turning an existing business into a “data business.”
We’ve had industrialisation and digitalisation. Are we already on the brink of a new business model mindset? Datafication.
Many industries are now producing and storing prodigious amounts of data, of which OSS is one of the leading exponents. The digitalisation age and it’s technological improvements is ensuring that the volume of data being collected is increasing ever-faster.
Data is reaching the point where it is ubiquitous in terms of an organisation’s ability to access it. At a point it becomes excessive. Combined with decreasing barriers to entry in software innovation there is a decreasing competitive advantage in digitalisation. The next business model competitive advantage strategies could well be built around the data itself rather than digitalisation.
In the context of OSS, carriers have long since digitalised every source of information imaginable. OSS have traditionally designed data insights into their applications (eg specific database views or queries accessible via their GUI). CSPs have extended the insights garnered from their data by having data analysts create customised scripts to meet their needs.
The next generation of OSS tools has to be able to provide their customers with the ability to surgically manage, filter and dissect the oceans of data they collect without needing a PhD in mathematics or computer science.