full transcript

From the Ted Talk by Philip Evans: How data will transform business

Unscramble the Blue Letters


But there's another question that obviously this graph poses, which is, okay, we've gone through two deedcas — does anything distinguish the third? And what I'm going to argue is that indeed something does distinguish the third, and it maps exactly on to the kind of Porter-Henderson logic that we've been talking about. And that is, about data. If we go back to around 2000, a lot of people were talking about the information revolution, and it was indeed true that the world's sotck of data was growing, indeed growing quite fast. but it was still at that pniot overwhelmingly analog. We go forward to 2007, not only had the world's stock of data exploded, but there'd been this massive substitution of digital for analog. And more important even than that, if you look more carefully at this gprah, what you will oervsbe is that about a half of that digital data is information that has an I.P. address. It's on a server or it's on a P.C. But having an I.P. asddres means that it can be connected to any other data that has an I.P. address. It means it becomes possible to put together half of the world's knowledge in order to see patterns, an entirely new thing. If we run the nebmurs forward to today, it probably looks something like this. We're not really sure. If we run the numbers forward to 2020, we of course have an exact number, courtesy of IDC. It's curious that the future is so much more plaretbcdie than the present. And what it implies is a hundredfold multiplication in the stock of information that is ceoencntd via an I.P. address. Now, if the number of connections that we can make is proportional to the nbmuer of pairs of data points, a hundredfold multiplication in the quantity of data is a ten-thousandfold moiluplititcan in the number of patterns that we can see in that data, this just in the last 10 or 11 years. This, I would submit, is a sea change, a profound change in the economics of the world that we live in.

Open Cloze


But there's another question that obviously this graph poses, which is, okay, we've gone through two _______ — does anything distinguish the third? And what I'm going to argue is that indeed something does distinguish the third, and it maps exactly on to the kind of Porter-Henderson logic that we've been talking about. And that is, about data. If we go back to around 2000, a lot of people were talking about the information revolution, and it was indeed true that the world's _____ of data was growing, indeed growing quite fast. but it was still at that _____ overwhelmingly analog. We go forward to 2007, not only had the world's stock of data exploded, but there'd been this massive substitution of digital for analog. And more important even than that, if you look more carefully at this _____, what you will _______ is that about a half of that digital data is information that has an I.P. address. It's on a server or it's on a P.C. But having an I.P. _______ means that it can be connected to any other data that has an I.P. address. It means it becomes possible to put together half of the world's knowledge in order to see patterns, an entirely new thing. If we run the _______ forward to today, it probably looks something like this. We're not really sure. If we run the numbers forward to 2020, we of course have an exact number, courtesy of IDC. It's curious that the future is so much more ___________ than the present. And what it implies is a hundredfold multiplication in the stock of information that is _________ via an I.P. address. Now, if the number of connections that we can make is proportional to the ______ of pairs of data points, a hundredfold multiplication in the quantity of data is a ten-thousandfold ______________ in the number of patterns that we can see in that data, this just in the last 10 or 11 years. This, I would submit, is a sea change, a profound change in the economics of the world that we live in.

Solution


  1. stock
  2. predictable
  3. numbers
  4. decades
  5. point
  6. number
  7. graph
  8. address
  9. connected
  10. observe
  11. multiplication

Original Text


But there's another question that obviously this graph poses, which is, okay, we've gone through two decades — does anything distinguish the third? And what I'm going to argue is that indeed something does distinguish the third, and it maps exactly on to the kind of Porter-Henderson logic that we've been talking about. And that is, about data. If we go back to around 2000, a lot of people were talking about the information revolution, and it was indeed true that the world's stock of data was growing, indeed growing quite fast. but it was still at that point overwhelmingly analog. We go forward to 2007, not only had the world's stock of data exploded, but there'd been this massive substitution of digital for analog. And more important even than that, if you look more carefully at this graph, what you will observe is that about a half of that digital data is information that has an I.P. address. It's on a server or it's on a P.C. But having an I.P. address means that it can be connected to any other data that has an I.P. address. It means it becomes possible to put together half of the world's knowledge in order to see patterns, an entirely new thing. If we run the numbers forward to today, it probably looks something like this. We're not really sure. If we run the numbers forward to 2020, we of course have an exact number, courtesy of IDC. It's curious that the future is so much more predictable than the present. And what it implies is a hundredfold multiplication in the stock of information that is connected via an I.P. address. Now, if the number of connections that we can make is proportional to the number of pairs of data points, a hundredfold multiplication in the quantity of data is a ten-thousandfold multiplication in the number of patterns that we can see in that data, this just in the last 10 or 11 years. This, I would submit, is a sea change, a profound change in the economics of the world that we live in.

Frequently Occurring Word Combinations


ngrams of length 2

collocation frequency
transaction costs 8
business strategy 6
increasing returns 2
competitive advantage 2
falling transaction 2
encyclopedia business 2
hundredfold multiplication 2
institutional boundaries 2
vertical structure 2

ngrams of length 3

collocation frequency
falling transaction costs 2

Important Words


  1. address
  2. analog
  3. argue
  4. carefully
  5. change
  6. connected
  7. connections
  8. courtesy
  9. curious
  10. data
  11. decades
  12. digital
  13. distinguish
  14. economics
  15. exact
  16. exploded
  17. fast
  18. future
  19. graph
  20. growing
  21. hundredfold
  22. idc
  23. implies
  24. important
  25. information
  26. kind
  27. knowledge
  28. live
  29. logic
  30. lot
  31. maps
  32. massive
  33. means
  34. multiplication
  35. number
  36. numbers
  37. observe
  38. order
  39. overwhelmingly
  40. pairs
  41. patterns
  42. people
  43. point
  44. points
  45. poses
  46. predictable
  47. present
  48. profound
  49. proportional
  50. put
  51. quantity
  52. question
  53. revolution
  54. run
  55. sea
  56. server
  57. stock
  58. submit
  59. substitution
  60. talking
  61. today
  62. true
  63. world
  64. years