How Essential Is Big Data?

Move over oil companies because the tech companies are now in charge of the world’s most valuable commodity!

Big data is vast amounts of data that can be collected and analyzed, with the help of ICT (information and communications technology), by businesses to make appropriate strategic moves and business decisions.

The below infographic, analyzed by Domo, a business cloud that the ability to access and act on data by bringing together people, data, and systems to create digitally connected organizations, demonstrates how much data was generated in every minute of every day on the most popular platforms in 2019.

The reality, governments must trust and respond to their citizens just like any business. With a large amount of data gathered from people, public sector organizations can improve their security, city planning, transportation, city automation, and sustainability while minimizing crime, unemployment, over-urbanization and ineffective expenditure of public funds.

One of the countries that have become a leading force in data mining, processing and analyzing is the United Arab Emirates. According to World Competitiveness Yearbook 2018, the UAE is ranked fifth globally in the use of big data analytics.

On top of that, Policy Lab in the UK was set up by the UK government; policy teams can develop the knowledge and skills to develop strategic plans in a more open, data-driven, digital-centred, and user-centred way.

Modelled on international examples such as MindLab in Denmark, Helsinki Design Lab in Finland, and DesignGov in Australia and created to bring some attention on how governments might work differently in the future in order to tackle significant challenges.

Many may argue that even though, big data analysis will reveal patterns and connections that will vastly improve human activities, it will also create very detailed profiles for all of us, including information that we’d rather keep private.

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