Within our fast-changing economy, enormous amounts of data are created each day. We are online everywhere and everyday. Doing so we leave a large trace of data which is higly valuable for companies. Specifically, these data traces allow companies to grasp the changes and characteristics just as they are happening. It is, therefore, not surprising that data is now a […]
As you may know, individual data points, just for themselves, are more or less meaningless. However, if you have a more extensive collection of such data points, you can derive all sorts of precious information from them. This information you can use to power innovations and enhance decisions. When it comes to data analysis, we generally differentiate between two kinds […]
Digitalization is the most imporant trend that is transforming both, society and companies on a global scale. This is due to the fact that, digitalization removed the locality of information. Removing their locality made it possible for flows of information to become non-linear. That means information is now simultaneously flowing around between many points (e.g., computers). At this point, the […]
To quote Jack Dorsey ” Most of the data is meaningless until someone adds some interpretation…“ To visualize this quote’s meaning, let’s look at today’s stock price of Example Company Inc: Today Example Company Inc. lists at 101R/share on the JSE. For itself, this data point is pretty meaningless. However, generally, datapoints become more useful when we collect and structure […]