In business, a recent paradigm shift has taken place best explained by a quote from Mr. Toyoda: The value of information is approaching zero.
Today, information is cheap. We have access to nearly any information at our fingertips. For example, if I need a new knob for my washing machine, I can find the part online and shop multiple websites for the best price. If I am traveling, I can find a local bar or restaurant within seconds.
Mr. Toyoda emphasized that future success depended on HOW people use all this information. The executive superstars will be those who can make profits from all this information.
Given our digital world, the amount of information we are creating is accelerating exponentially. Much of that information is about us. Credit card records, websites, emails, phone calls, etc.
The government is now collecting massive amounts of information. Both political parties are responsible for this.
The question that needs to be asked is: How can that information be used?
It can rightly be used to prevent or solve crimes. It can wrongly be used to expose a citizen's sexual orientation or divorce records. So, how do we set limits and enforce them?
Submitted by Virtual Newsroom