Datafication and Predictive Business Models In 2022.

Datafication transforms everything about a business into data-driven technology. Digitization, though used interchangeably with verification, is not the same as digitization. Instead, digitization converts analog information(in the form of books and other information) to digital data.??

Retrospectively, Gartner forecasted that 85% of Fortune 500 companies would exploit big data for competitive advantage in 2015. IDC also agreed with this premise, projecting that the data market will reach $17 billion by 2015. Because of this trend, there has been a higher demand for IT professionals such as data scientists.?

The concept of ratification became more concrete by implementing predictive analytics to help shape business results. Utilizing the power of big data has a propensity to change business outcomes.?

In 2022, companies with mass-scale datafication rely on data to predict and recommend matching results to their users. Making use of the volume, velocity, variety, and value of data; core concepts in datafication; predictive business models have delivered personalized services to consumers that keep them coming back.