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Define Data And It’s Importance

Define Data And It's Importance

Variable, Measurement and Data

  • Variable is a characteristic of any entity being studied that is capable of taking different values.
  • Measurements is when a standard process is used to assign numbers to a particular attributes and characteristic of a variable.
  • Data are recorded measurement.

What is generating so many data?

Data can be generated by human, machines or human-machine combine. It can be generated from anywhere, where any information is generated and stored in structured and unstructured formats.

How data adds value to business?

Data Warehouse ->

  • Development of Data Product: Algorithm solution in production, marketing and sales etc.
  • Discovery of Data Insight: Quantitative data analysis to help steer strategic business decision.

-> Business Value

Why Data is important?

  • Data helps to make better decision.
  • Data helps in solve problem by finding the reason for under-performance.
  • Data helps one to evaluate the performance.
  • Data helps one improve processes.
  • Data helps one understand consumers and the market.
Define Data And It’s Importance

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