Data is driving innovation
As the world's population continues to grow, we will see new challenges for our social infrastructure. This brings new challenges for resource management, healthcare, disaster mitigation and protecting our environment. At Fujitsu, we strongly believe that ICT can take a leading role in addressing these global challenges, where organisations can harness new insights and knowledge to develop strategies to optimise their business processes in new ways.
With these new challenges, we expect that more organisations will also leverage on data to drive business strategies and product innovation. Predictive analytics, which makes use of data and machine learning techniques to help analysts identify the likelihood of future outcomes based on historical data, is expected to be particularly useful for the manufacturing industry.
Supercomputers are playing an increasing role in support of this area as they help to address large and complex challenges with their high-level computational capacity, and can therefore be seen as one of the key drivers of predictive analytics. In fact, supercomputers already currently play an important role in many areas such as disaster mitigation through tsunami simulation and new drug testing.
Predictive analytics have also now become more cost effective as businesses are now able to opt for deep and scalable data processing via open source software. It is worth noting, however, that price is not the only advantage that such software holds, as its accessibility for security audits and the willingness to share information amongst users make it a very compelling and popular software option.
With these developments, a firm's competitive advantage will no longer be determined by the ownership of proprietary technology, but rather on the ability to leverage data and gather insights to drive informed decision-making.
Enterprise security is a growing concern
The highly interconnected systems and avalanche of data have created a hyper-connected world. In fact, Gartner is projecting that the number of IoT devices will increase from 4.9 billion this year to nearly 21 billion by 2020.
While a hyper-connected environment can be advantageous, this also poses great security concerns which can undermine the stability of organisations. These security concerns emphasise the value of the central governance of IT systems to control enterprise risks, such as security and privacy protection. An EY annual survey results show that nearly a third of Singapore organisations believe that their companies are not well-prepared to detect sophisticated cyber-attacks. Among the biggest security breaches in Singapore in recent years is the hacking of over 1,500 SingPass user accounts. Incidents like this highlight the value of safeguarding IT systems through a robust IT environment.
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