Affordable Information Access in a Data-Heavy World
Information is the lifeblood of our modern world. The connected data at our fingertips powers our businesses and guides our decisions. That makes access to information a critical enabler of socio-economic opportunity.
The fundamental right to access information is why the UN promotes this topic on its International Day for Universal Access to Information. This day highlights the importance of appropriate regulation, protection, institutions, and technologies to drive wider access to information.
As a business founded on the value of information, Neural Technologies recognizes the power of technology to drive positive transformation in information access. Our powerful Data Mediation solutions are designed to make high volumes of data more accessible and actionable for clients, customers, and users.
IBM estimates that, on average, 1.7 megabytes of data per second is generated for every person in the world. Machine-to-machine interactions increase this data burden even further. The world generated 64.2 zettabytes of data in 2020 according to analysts IDC, putting us well on track to achieve a predicted 175 zettabytes by 2025.
These volumes matter, because the more data we have, the harder it is for businesses to leverage actionable insights from that data. Analysts Gartner estimate that the average financial impact of poor data quality to a business could be anywhere between USD9.7mil and USD14.2mil annually. IBM analysis indicates that bad data is estimated to cost the United States alone more than USD3tril per year.
Neural Technologies’ Data Mediation solution offers organizations a data integration platform which can enhance operational efficiency and help unlock new revenue streams through timely access and interpretation of both structured and unstructured data. That ability to rapidly integrate both legacy and emerging data systems is vital in our data-heavy world.
Affordability is key to information
It’s not just the sheer volume of data that overwhelms businesses’ ability to utilize it. It’s equally important to ensure the affordability of any solution. Enterprises need to be empowered with solutions that deliver real return on investment—a key driver at the heart of what we deliver at Neural Technologies.
Analysis of the losses incurred from bad data reveals why an appropriate data platform is so important. Those losses have a consequent knock-on impact for customers, meaning revenue losses to bad data ultimately impact the affordability of services. Advanced revenue protection solutions like those Neural Technologies provides to customers around the world are another important link on the chain to affordable information access with modern communication tools.
The reality is digital technologies have been a game-changer in terms of access to information for people and organizations. Where the repositories of knowledge were once focused on physical buildings and records, digital technologies have democratized access, giving people around the world the power to engage with information in the palm of their hands.
The International Telecommunication Union (ITU) estimates that more than half of the world are now active internet users. That’s four billion people with access to an information source almost unthinkable just a few decades ago.
Telecommunications companies have a particularly powerful part to play, with smartphones now unlocking even greater opportunities to a wider global population. Mobile broadband networks now cover an estimated 82% of low- and middle-income countries. A recently announced partnership between Vodafone Group and ITU seeks to spread that net further, targeting access for 3.4bil additional users by 2030. That’s just one high-profile initiative in an industry committed to improving information access.
Providing that access means unlocking information on health and well-being, access to job opportunities and education, and unlocking the benefits of mobile money services. It also means recognizing a fundamental need to keep those services affordable, particularly for less affluent customers. That means communication service providers (CSPs) leveraging advanced revenue protection solutions that reduce revenue leakage and protect both customers and the CSP from fraud. It also means ensuring technologies that integrate data in a reliable, affordable, and timely manner.
Data must be accessible and available
These positive intentions for data access must be founded on fit-for-purpose data integration solutions. Technologies such as Neural Technologies’ Data Mediation solution are designed to operate in a modern environment framed by a huge and growing tidal wave of data. Its next-generation processing capability has demonstrated a minimum 30% improvement compared to competitor systems, ensuring reliable data access that also enhances operational efficiency.
Our generic data integration platform is able to run any digitized data processing scenario, providing fully configurable data conversion that integrates both legacy and new data collections systems, providing flexibility that empowers users.
Our Data Mediation solution enables scalable, end-to-end lifecycle data management for telecommunications providers and a wide range of other industries, with support for both streaming and IoT integration. That means as the wealth of data in our world grows, businesses can ensure an affordable solution to integrate, understand, and act on that data.
Capturing, integrating, and interpreting data is of course just one element of the key drive to ensure access to information—data must also be available as and when an organization or user desires it. Neural Technologies’ solution is designed to ensure high availability of data, utilizing a container software system that enables seamless cloud deployments. That cloud flexibility is an important consideration in the modern ecosystem, with some analysts indicating that the value of cloud computing has now surpassed that of the traditional IT landscape.
The importance of access to information has never been more apparent than in our modern environment. We have the tools and technologies to deliver that information in increasingly innovative ways. What we also have are increasingly innovative solutions to ensure that access remains affordable.
Meeting those needs in a high-volume landscape requires data integration that recognizes and responds to the challenges of the modern operating ecosystem. There’s no point gathering data if you can’t channel it towards understanding, and in doing so ensure affordable information access that empowers businesses and citizens around the world.