HNC BIG DATA 2024

  Data value depends on different factors however we can mention one related to a business context where the data does not have a specific value like tangible assets but based on the potential of the data which contributes to a business and how you use it to generate revenue or save costs then it has a big value. This factor is the most important since it is going to impact the future so they can estimate how much an investment will be worth in the future. AI is an example of the value of data for the future since a big data base with more information can be connected to an AI so the more data the more reliable will be an answer. In summary, the value of data extends beyond the immediate financial and business gain and the more information the more value will be.

  There were and I would say there are many reasons for the fascinating phenomenon of the growth of data but in this opportunity I will mention some key factors which contribute to this event. The first thing to mention is the increased data usage, as the needs for data increased, so did the speed of data increased too and factors like covid19 make this needs increased a lot too. Another thing to mention is unstructured data explosion since the needs of data usage increased then the nature of data has changed too and there different sources of data like data bases, social media content, sensor data, images, videos and more and that’s why it was predicted that by 2026, more than 80% of global data is going to be unstructured due to the way how we use and consume data. We do not have to forget we have technological advancements and new devices, there are many things that contribute on this scenario such as AI, encourage data collection or utilization, cloud computing, smart dev...