What is Data? + 3 things it can do
It's everywhere.
All around us.
And it's only growing.
But really, what is data Reader?
What is Data?
Here's how I define it:
Sure it's a broad stroke, but data can be anything.
Have questions about data? Let's chat.
Data can be created by people via: transactions, website traffic, phone calls, clicks, likes, widgets made, miles driven, words, dance moves executed, and more!
Machine's are creating data now too: registers, cars, manufacturing equipment, smart devices, etc.
It's all data.
Soon, ~463 exabytes of data will be created each day.
(To give you a sense of scale: some experts estimate all the words ever spoken by mankind would be equal to 5 Exabytes.)
So yeah, a lot.
And your business has access to a lot of it.
Are you using it all to your full advantage?
3 things data can do
There are a myriad of things you can do with your data, but they fall into one of 3 buckets:
- Describe 📊
- Predict 🔮
- Prescribe 💊
Describe- Have the data tell you what is or has happened (e.g. dashboards & graphs)
Predict- Use the data to find hidden patterns and use to predict the future. (e.g. Weather forecasts or machine-learning models)
Prescribe- Using data to tell you what to do next (e.g. A maps app)
Let me help
Examples are too many to share in an email, so I wrote some up in a blog post, just for you Reader!
Need further help or have something specific you'd like to discuss. Let's chat live!
I hope it's been a great week.
Talk soon,
Ben
Between The Data
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It's everywhere. All around us. And it's only growing. But really, what is data Reader? What is Data? Here's how I define it: If it's tracked and recorded over time, it's data. Sure it's a broad stroke, but data can be anything. Have questions about data? Let's chat. Data can be created by people via: transactions, website traffic, phone calls, clicks, likes, widgets made, miles driven, words, dance moves executed, and more! Machine's are creating data now too: registers, cars, manufacturing...