THIS BLOG IS SEND TO CURIOUS AMIGOS THROUGH THE MEMBERS FORMS BY DEVANSHI ARORA.
“Thanks, Devanshi for sending us your prolific writing about such a vivacious topic: Why Data Is The Most Valuable Resource? We really appreciate the time and efforts you put into this blog, we hope this blog will greatly enhance ours as well as our readers understanding. We’re are highly gratified to have you on our side. Your Blog is so insightful and gives a very strong understanding of it”.
Devanshi is a B.C.A. Student and a Solutions Manager at Adcratic. Her dream is to bridge a gap between tech and marketing. It fascinates her to link different fields to innovate and create something new. Moreover, she believes in ‘TRIE’, her own style of visualizing things which is inspired from TECH, MARKET, DESIGN and CODE.
Hoping to Receive more Blogs from you Soon…
WHY DATA IS THE MOST VALUABLE RESOURCE?
Have you ever wondered that when you shop for something, your information is saved in the form of data. Even the gadgets you are dependent on are also storing your information and tracking you with data.
It’s not a surprising thing to say that we all are surrounded by data. It’s everywhere around us and we all are fully dependent on it!
People usually think that data is just a heap of your information. But it’s a vast term to explain. It’s components stretch it into various fields. Thus, turning it into a valuable resource.
But first let’s have an overview about Data.
WHAT IS DATA?
As mentioned above, Data just means collecting information by observing anything and performing analysis.
It’s an asset to Business, Finance, Scientific Research, Governance, Organisational aspect and almost everywhere.
Everyday Business and consumers create 2.5 quintillion bytes of data per day. That’s so huge!
The numerical analysis, charts and graphs are used to show data that can track your work progress which can benefit you.
Now, the main question is why the data is so important and valuable?
DATA AS THE NEW OIL
The Economist published in 2017, “The world’s most valuable resource is no longer oil, but data.”
There is no doubt that data has replaced oil in resources yet it’s sustainability and judicious management is indispensable.
- 65% of organizations are investing up to $50 Million on Big Data and Artificial Intelligence in 2020.
- 75% of companies adopted Big Data and almost 37.8% created a data-driven organization.
- 89% of hospitals plan to invest in analytical software in 2020.
Data can extract information and provide insights. Thus, helping you to decide what’s best. This is what we call Data Analysis.
As this Data is too complex and huge it’s important to take care of it. For this complexity, Big Data or ‘The Digital Universe’ is used.
FUTURE OUTLOOK
Data is helping many businesses, manufacturers, E-commerce, healthcare and many other firms to boost their productivity. They can simply get information about their customers, process it and analyze it.
Therefore, Data is creating a new pathway of opportunities. Thus, gaining top demand skills like Business Intelligence, Structured Query Language (SQL), Business processes, Data warehousing, Data analysis, Business analysis, data modeling and SAS Business Analytics software can give wings to your career.
And Hal Varian (Chief Economist at Google) truly said “I keep saying that the sexy job in the next ten years will be statisticians. And I’m not kidding.”
This new commodity is growing and getting bigger rapidly. Hence, Data is stated as new oil!
Sharing is Caring💖
