Data is primarily information that can either be read by a human or a machine. There’re different types of data including personal data, sensor data, web data among many other. Interestingly the world is rich in it. Some data can be raw, and some information could be analysed and presented in different ways. Innovation and technology fields are leading in the production of more knowledge pertaining to different things.
During a Gartner Symposium/ITxpo in 2015, the vice president at Gartner and global head of Research Mr Peter Sondergaard said “Data is inherently dumb. It doesn’t actually do anything unless you know how to use it; how to act with it.” He added that the Algorithm is where the real values lie. Algorithm defines an action. The dynamic algorithm is the core of new customer interactions.
Use data depending on the interest of the user.
Businesses can use records on the population of an area to determine where to locate their business or what business they can start. For instance, with the right statistic, one cannot open up a mall where they population is low which cannot keep the mall business thriving.
For instance, in statistical information indicating that during the festive seasons there is a high rate of road accidents on highways. Different organisations can use this information. The Red-cross can use this information to prepare for a disaster response team along the high ways.
The National Transport Authorities can use the information to come up with policies on road safety like on speed limits and times of travel. The road users can use this information to use alternative means of transportation to reach their destinations.
You need to know the basics. Start reading, attending the free online classes, seminars, webinars, read blogs. Begin to understand what is machine learning, and AI is all about. Don’t be afraid; spend a few minutes a day to understand the concepts.