Speaking in front of an audience of 4,000 people at Teradata Partners 2015, entrepreneur and Shark Tank panelist Robert Herjavec, said: "Forget the Internet of Things: if the internet was a child, it would just have begun to crawl.
"The internet will be electricity."
He said that people do not notice electricity until it is not there and that this will be "the same with the internet" and is already found to be happening.
Herjavec also said that today is the best time to start or be in business, but at the same time companies will be faced with the most amount of competition ever.
"In our world is all about making sense of the data. It is amazing the pace of change we are seeing in the [computing] industry.
"The companies that are going to be able to stay in the long run, are the ones that are going to be able to make sense of data and add value to customers."
He said that ‘good’ and ‘big’ do not mean companies will survive, and that innovation allied with design will separate the winners from the losers. "Value from data is key [to survive]."
"People do not want less information; they want more and more. You cannot stop the internet, social media, information and data."
He also said that despite the technology world innovating itself every three years, "we are [still] not willing to share data".
The Shark Tank star concluded his talk by again stressing the importance of data. He said: "The key word in technology today, especially with data, is ‘more’."
