Page 24 - Reclaim YOUR DIGITAL GOLD (without audio)

RECLAIM YOUR DIGITAL GOLD

data; how we use and analyze it, and the broader
consequences of its effects.
Furthermore, as innovative techniques are developed to
store and harness its potential — such as Big Data and
artificial intelligence — so has the term and use of the
word “data” evolved.

Words like “data,” “quantitative analysis,” “Big Data,” and
“AI” may be frightening if you work in a non-technical
environment. Don’t be alarmed! Data doesn’t have to be
difficult to understand. Data is critical information that
helps organizations make decisions and plan for the
future more efficiently and effectively than humans can.
Here are some reasons why data is important, what you
can do with it, and how it relates to business services:

1. Improve Our Quality of Life

Data can be used to help people live better lives. The
most important reasons to use data are to improve
efficiency and quality of services and processes. When
used appropriately, data can be a valuable asset in
enhancing one’s quality of life.

2. Make Informed Decisions
The quantitative collection of data gives us valuable
information sets to use qualitatively. Knowledge is
derived from the collection and analysis of accurate
information. Therefore, a lack of data can lead to
inaccurate conclusions that are based on anecdotal
evidence, assumptions, or a preliminary observation.

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