Big Data is Big Business

Big Data is Big Business

Intel CEO, Brian Krzanich made headlines by declaring, “Data is the New Oil in the future of the Automotive World.”  He is correct.  Data is big business and automobiles have the ability to create a lot of data.  Data has the potential to radically change the way we think about the driving experience.  In fact, one of the trends that could be most disruptive to the industry is the enormous flood of data driven by the proliferation of smart, connected devices.  It is forecasted that a connected car could soon generate 25GB of data each hour.  A car manufacturer will have a wealth of data from millions of vehicles.  Currently, the basic assumption is that they remain the owner of the data.  According to Accenture, the data from connected cars will be worth $5,000 per car in extra revenues for the manufacturer.

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