Following Moore’s Law the computing power doubles every two years. Conversely in two years the costs of computing capacity cut in half, in ten years the price went down to 3% of the original costs. A similar effect holds true for bandwidth, which enables pervasive connection between all nodes in the internet. Or storage, which is driving the large-scale availability of cloud-based services. Or sensors, which is turning the internet into a web of things.
The advancement of cheap and ubiquitous building blocks for digital products has started a digital transformation of the economy. For some time the Fraunhofer-Center for International Management and Knowledge Economy is investigating the effects of the digitization. As an economic research institute we are interested in its effects on the economy, society, science and politics.
We do not only observe the big drivers of the digitization, we are addicted to work on innovative solutions. We set-up the IMW Big Data Center – which is a combination of significant processing power and competences of our computer and data scientists, as well the economists and social researchers. With the center we started a new journey in developing new data-driven solutions for economic and societal challenges.
In our blog you can accompany us in our expedition into the digital transformation. In our channel Data Science we share some nice examples on how we use data in a new and innovative way. If you are more interested in the work of our software developers than the Coders’ Corner is the right place for you. And if you are interested to learn more about our team and the research we are doing, you should follow the Meet us channel.