Editorial: Economic Growth in this new ‘Digital Century’
I was recently asked to write an Editorial piece for the bi-monthly ‘Agenda’ magazine published by Gosford Business Chamber. The article is reproduced below, with a link to ‘Agenda’ magazine.
Link to Gosford Business Chamber ‘Agenda’ magazine – online edition
ECONOMIC GROWTH IN THIS NEW ‘DIGITAL CENTURY’
DATA WILL BE A KEY DRIVER OF GLOBAL ECONOMIC GROWTH IN THIS NEW ‘DIGITAL CENTURY’. THIS DIGITAL ECONOMY WILL HAVE A PROFOUND EFFECT ON ALL ASPECTS OF SOCIETY – BUSINESS, EDUCATION, HEALTH CARE, FINANCE AND GOVERNMENT
| Every day, 2.5 quintillion bytes of data is created – in fact, 90% of the data in the world today has been created in the last two years alone.This data comes from everywhere: social media sites, online purchase transactions, mobile phone GPS signals, and so on. This data is known as ‘Big Data’. Visit https://www.couchbase.com/products/mobile to learn more about this.
For small businesses and consumers, this ‘big data revolution’ promises a wide range of benefits. Big data will improve our communities, help us make better decisions and create a wide range of new business opportunities. It is estimated that global online traffic will quadruple by 2015 as the number of gadgets linked to the internet climbs to 15 billion, according to a forecast by Cisco. Over the next decade, analysts expect the global volume of digital data to increase more than 40-fold. From a Central Coast perspective, the opportunity now exists to establish some quick wins from the NBN Rollout, driving economic prosperity for the region. In the US for example, communities are already leveraging these new fibre-optic capabilities to drive innovation and grow their economies. There is no reason that Gosford cannot do likewise, and become the Central Coast’s own ‘Gigabit City’. |
The digital economy removes the ‘tyranny of distance’, helping to level the playing field – particularly for small businesses in regions such as the Central Coast.
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