SINGAPORE, May 27, 2020 /PRNewswire/ -- When data is processed, organized and presented in a given context, it becomes meaningful information that can improve our daily lives. Toshiba's Chief Digital Officer Taro Shimada shares more on how Toshiba Data Corporation, newly established in 2020, aims to explore the possibilities of tapping on everyday data to realize tangible benefits for society.
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From Data 1.0 to Data 2.0
According to estimates by the IDC (International Data Corporation), the total amount of data in the world will grow more than five times from 2018 to 2025 - a veritable explosion of data in just seven years. And this growth is expected to continue. Toshiba believes that the amount of data created from the physical world - things like factory equipment and transportation systems - will far exceed the data created in the cyber business.
With the company's offerings and involvement in point-of-sales (POS) systems, industrial machinery and social infrastructure, Toshiba can transcribe the data from the physical world, feed it into cyberspace, and then combine the new data with already existing cyber data to create something of value.
The company is focused on aggregating behavioral data of consumers in the physical world, and with their permission or after anonymizing the data, give value created back to the consumer. Various service providers could provide different customer offerings according to the data gathered.
An example is the 'Smart Receipt' developed by Toshiba TEC Corporation, a Smart Receipt system that digitizes paper receipts that customers would receive when they make payments at stores. Depending on how it is applied, it could even be used as a tool for regional vitalization.
Toshiba Data is considering to offer management support to medical institutions. By collaborating with other providers, Toshiba aims to help medical institutions to analyze patients' data and identify various pre-symptomatic diseases for health monitoring purposes. Overcoming challenges, Toshiba Data is committed to create an ecosystem where everyone can reap the benefits of data.
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SOURCE Toshiba Corporation