Crypto Basics...What is data?

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First of all, Data is a Collection of Information. Everything we do, we use is a kind of data. Data is equivalent to Knowledge. We make important decision based on Knowledge and Experience stored in our memory. We can demonstrate it as individual methods. For example, Your Smart phone is a Great source of data. Intuition is far away when compared to Knowledge. In modern era, Assumption and Gut feelings is high risky when making important decisions. Data is a Vital Asset. Collecting group of individual methods and storing their information manually and retrieving in times of needs is very difficult. Some years ago, data was very less and mostly available in a structured form, which could be easily stored in excel sheets, and processed using Business Intelligence tools. But in today's world, handling huge amount of data is a challenging task for every organization. It is estimated as per researches by 2020, 1.7 MB of data will be created at every single second, by a single person on earth. Every Company requires data to work, grow, and improve their businesses. So to handle, process, and analysis of these large number of data, we need some powerful and efficient algorithms and technology called as Data Science. Data helps business leaders better understand and improve processes that reduce the number of high risk. By using this Data Knowledge, business can build a better understanding of the customers they are serving and identify the needs of their specific audience. Organizations must ensure that they are Data literate to remain competitive and capable to develop an edge over their competition. Hence Data Analysis is very essential as it helps business understand their customer's better, improve sales, reduces costs and allows for the creation of better Problem-Solving Strategies. Data Analysis is also very important for people who are trading like us. Let discuss more in upcoming post too. Stay tuned.