Wednesday, 30 January 2013

The essence of data in modern World

What is data: This is information, often in the form of facts or figures obtained from experiments or surveys, used as a basis for making calculations or drawing conclusions

Data is a very important element for our modern world we simply cannot ignore its importance in all aspects of modernity. Social dynamics can all be measured and determined through proper and timely analysis of data elements which can determine the decisions to be made in the current situations and proper prediction of future trends. Data is the foundation for modernity, the strongest determinant of myriad aspects of our life.

What is the importance of Data in the modern world?

Measure of growth and progress
Data is used as a tool for determining the growth and progress of any establishment in our society e.g. a company, business, organization etc. Figures with facts enable us to determine how far a certain development has progressed over a period of time through making comparisons of past data elements and present data elements e.g. amount of sales in a period of time.

Used for planning and decision making
Figures with facts can be used to determine the amounts of what we require in order to continue operating normally or increase productions. E.g. the amount of raw materials required in order for certain industrial process to yield desired results may be determined by the amount of finished products gotten over a period of time.
Some Data Elements showing a decision based on passmark of 300 Marks.

Used For future forecasting and projection
An analysis of certain data elements and their trend may be used to project a future trend of a related element with a good degree of accuracy. E.g. A nation can determine the amount of petroleum products it needs to import in the future depending on the number of vehicles being imported now. 

Historical reference for organizations
Data can be saved whether online or offline in various storage media which can later be used for future reference. Stored data may also be useful to restore a certain operation into its normality should there be a loss of the present data elements. The act of storing data for future use can be referred to as back-up. The storage devices may be flash disks, Optical media, Tape backups etc

A basis for organizational modeling
Here am referring to a model as a simplified version of something complex used in analyzing and solving problems or making predictions. The data produced by technical people like statisticians, data managers, etc may be simplified for the rest of the people to understand and aid in making decisions.

Used for implementing Quality Control
Data elements may be used for setting general standards for grading something e.g. a social-economic process. A good example is where the secondary schools determines the cut-off for admitting new students to form one in national schools category, all these major decisions are based on analyzing the available data elements and establishing the standards governing admission to the various schools.

Source of pride for organizations
Organizations may look upon their data elements which represent factual information e.g. production and feel the satisfaction of having a good trend in production which enhance their profit margins. The source of this pride is in the available data.

A basis for ideologies and hypothesis
An ideology is set of beliefs, values, and opinions that shapes the way a person or a group such as a social class thinks, acts, and understands the world. The availability of reliable data can shape the formation of an ideology e.g. How many customers do we serve every month? Does an increase in rainfall determine our sales in fertilizer? Etc
A hypothesis is a tentative explanation for a phenomenon, used as a basis for further investigation. A good example is the relationship between an increase in industrialization and global warming. So we can easily form a hypothesis like this, is there a relationship between forest fires in Mt. Kenya due to dry spells of climatic conditions and an increase in industries in Nyeri town? (It’s near Mt. Kenya), then use the available figures to draw a conclusion

What more uses of Data do you know?

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