Networked economy: The convergence of consumer and business networks

New lines of business and job categories are raising altogether with the next economic revolution, the Networked Economy.

Data universe continues to expand rapidly. More data has been created in the past 2 years than in the whole human history. It is expected than, in 2020, 1.7 megabytes of info per second will be created per every human on earth that represents a growth of 2000%.

Enterprises responsibility cover 85% of this data being nevertheless 2/3 of it created by individual consumers. Taking into account these numbers we arrive again to the same questions we have been asking ourselves for the last 5 years: Ownership? Security? Share-ability?

We currently know that only 0.5% of all these data is ever analysed. On the other hand, if we consider the IoT prediction for 2020 when 1.9 trillion devices are expected to be connected we realised that work will be no longer related to a place but to an activity.

This hyper connectivity is the basis of the new concept of Networked Economy and the generator of new innovation and also social innovation opportunities.

Economy is now expected mobile, social and continuously connected due to the recent convergence of two networks: business and consumers networks.

As in the MIT Technology Review was mentioned by SAP on August 2014, three main basis will help to focus the aims of the Networked Economy:

– Higher customer customization

– Enabling open innovation

– Enhancing resource optimization