Like Us On Facebook Connect With Us On LinkedIn Follow Us On Twitter

July 2018 - Why we care about Data?

Why we care about Data?

 

Data is a commodity; stacked side-by-side with its physical peers, it is arguably in today’s digital age, the most valuable commodity there is. In the same way that traditional commodities are only as useful as the machines that are able to harness their power, cheaper and more powerful processing power[1] has enabled machines to extract useful and powerful information from their fuel that is data.

 

At Datum, we believe that with the power data has to offer, we are still only in the fledgling stages of the digital era that will see data and its science integrated deeper into society. This will have a profound impact on a multitude of industries beyond the obvious ones of IT and computer science. No doubt the leaders are those embedded in the technology sphere, with the likes of Alphabet (parent company of Google), Amazon, Apple, Facebook (somewhat infamously of late) and Microsoft finding themselves as the OPEC companies for the data world. However, the secondary impact of both the increased amount of data at our disposal and the increased computing power to harness it will be felt in industries from healthcare to education, from finance to legal, and beyond in both the public and private sectors.  In today’s knowledge economy, data is key.

 

Datum aims to be at the heart of this change. Whilst China’s Social Credit System may give a dystopian vision to some, it nevertheless shows how powerful data can be. The private sector, too, is rapidly changing and set for disruption, with the advantage being handed over to those that can harness the power embedded in their databases. Why now? With 90% of data ever created being created in the last two years[2], new opportunities will be available that have not been available in the past. Furthermore, with investment into big data sets to double in the UK by 2020[3], companies are rapidly recognising the huge untapped potential at their technological feet. A video by IBM[4] shows how major sporting events are using data analytics to improve the experience for fans, organisers, broadcasters and beyond. Elsewhere, in the medical sphere, data from smartphones is being garnered to be used as a replacement for hospital tests in many cases[5]; and, data collected from Google Maps is being used to track how quickly disease can spread[6].  It is safe to say, the collection and application of data threatens to touch and disrupt all industries in all corners of the Earth, if it hasn’t already.

 

Whether you are looking for solutions to the challenges your company may be facing, or seeking to improve data collection and analytical techniques, or simply considering a move to a new, exciting opportunity, Datum’s expertise can assist you every step of the way.


[1] Moore’s Law of Computing. [2] https://www.ibm.com/analytics/hadoop/big-data-analytics [3] http://www.information-age.com/uk-investment-analytics-double-nearly-25bn-2020-123469208/ 
[4] https://www.youtube.com/watch?v=-1dt1JUArh4&feature=youtu.be [5] https://www.biomedcentral.com/track/pdf/10.1186/2047-2501-2-3?site=hissjournal.biomedcentral.com [6] https://www.nature.com/articles/d41586-018-05268-w