Some people talk about data as if it was some new black gold and others as if it was a treasure needing protection. But in the end what is data ?
Many experts have tried to answer this very broad question, since the significance of data began to emerge in the early 2000s.
Let’s take 3 minutes to outline this huge subject together.
What is data?
Data is information on which we base an observation, fact, supposition, reasoning, or probability and which serves as a basis for research or some form of study. So, computer data is a representation of information in a conventional or normalized form, to make its processing easier.
Everyone wants source data
The value of data is in its use. This value has a name: knowledge. We can now understand what is at stake in terms of data usage. Is it a treasure we should actively protect or a wealth of intangible raw material that can be used to make a profit?
On what scale is this data usable?
Naturally there are other criteria which make it easy or not to use this wealth of knowledge. The very nature of the data – is it structured or not?
The format of the data used is also important – would a computer understand it? The most widespread format is CSV, but there are many others.