Importance of Data in Business

Importance of data in business is determined after seeing the results based on true facts. Data is important to take calculated risks in business. In simple words if your post getting 200 likes on facebook then it mean something. This meaning is created by data.

Basics of Data: Collection of facts is called data. Numbers, figures, images, videos, audio, websites, software, likes, dislikes, views, searches, name, date of birth, male/female, country, region, interest, computer data and phone data etc. all is data. And fact is a thing that is known or proved to be true. And the proof behind fact is called data. If the data is correct or added with the fact then it is true else that is lie.

For example: Facebook used by million people that is a fact. But this fact is a lie until we do not add data with this fact. After adding data in this fact it is converted into information. E.g. login to Facebook keyword average monthly searched by 201,000 people on Google according to Google keyword planner. And 27, 40,000 average monthly searches for Facebook Sign In. Now we can say Facebook is used by millions or billions of people daily. And there are other kinds of Facebook searches also. And all this is a proof behind the fact and the proof is data.

Another example of true and false fact is that if you say Facebook is best to promote business then ok, I listened this but is it true? NO.  Now you need proof to prove that your fact is true. So, you added these types of data with your old facts such as Facebook is used by millions of people, how create business page average searched by 720 people, how to get more likes on Facebook Page searched by 2,900 people monthly etc. are the evidence. So, If you provide me data with your words then I am convinced, informative and knowledge that information explore my creativity and then I want to know how can I get advantages of using Facebook for business. This is the fact how data is important to explore creativity in life.

So, facts are data, meaning full data is information and the combination of data and information is called knowledge.

Basic examples of Data and facts!

Facts

Data

Today is sunny day in Shimla Weather: 11 ̊C | ̊ F, Precipitation: 0 %, Humidity: 48%, Wind 6 km/h
I have Facebook business page. Facebook Page: Klient Solutech, Likes: 690, Created on 2011
I use Facebook for knowledge I like and follow those Facebook pages that provide knowledge. I liked 20 pages etc. and I know how to use Facebook for knowledge.  
Why use Microsoft excel? To perform data calculation, analyze information and visualize data.
Is Microsoft excel is important? Yes, learn here: Importance of Microsoft excel in business
Any day associated with romantic love Valentine’s Day, February 14 each year

Types of data

There are two types  qualitative and quantitative data . But in simple words to understand! There are two types’ of data according to me meaningful data and meaning less data. Meaningless data is less useful and not processed by computers or not able to create information. And meaningful data is processed by computers, search engines to create or display information or search results.

Meaningless Data Meaningful Data
4 legs Make a list of 4 legs animals
100 likes 100 likes on my profile picture
98xxx xxxxx Mobile number of Vijay Sharma
Arvind Kejrival Arvind Kejriwal is the current Chief Minister of Delhi and he took oath on 14 February 2015
11 ̊C | ̊ F                             Weather report the Mall, Shimla, Himachal Pradesh, Saturday 11:00 AM

Importance of Data in Business

Without data it was impossible the technological changes and innovative things and business we are seeing today. Everything you see on computers, such as numbers, files, folders, images, songs, software, drivers, and websites are all data.

Data is processed by computer to create meaningful information. For example our search query on Google is also is a data, no matter it is meaningful or meaningless but Google search engine process it and show informative results. E.g. if you type what is data? Then Google search engine receive this query as data and convert into information and then we see search results related to “what is data”?

Data is used by everyone, every day in all kind of task. Data is not only used in computers but also in outside electronic devices.  For example: Sign board, directions signs & symbol, number plates, voter id cards, Aadhaar card, bank account, ATM number, passwords, login ids etc. everything is a type of data.

Facts are in the base of data. Data is used to create information. Information is used to create knowledge. And knowledge is used to create better future, healthy future, and innovative future. That’s why it important to learn data.

The power of data is great. Data is most powerful thing in information technology. E.g. imagine we stop doing likes then what happen to Facebook? If we stop using Gmail then what happen to Google? If we stop learning then what happen to Google? If stop using physical money then what happen to banks? And this is some example how data is involved in our life.

Data is a science and by analyzing it we can create innovative future products, services, jobs etc. Almost all the companies and people are surviving because of data.

As you learned above data is very important. It is important that we use data for meaningful purposes. It is import that data uses are regulated. It is import that collected data or personal data of users is not compromised by companies for wrong uses.

We need to learn how to turn data into information; we need to learn how to collect data for information, and how to combine data and information for knowledge. We need to learn uses of data. What are best application to collect data. What are the methods to collect meaningful data. We can use Google Keyword planner and other keyword research tool, Google analytics, Google trends, Facebook insights, twitter insights etc. all the source to collect data in the beginning of your research for data. And we need to learn to how use knowledge to collect, manage big data.

Data is not created by machines. Data is only collected and processed by machines but created by humans.

Conclusion: Data is important and it’s true because more people want to use it for better future. If you want to learn more type on Google “What is data”. Data is important to get information. Data is important to create new products and services. Data is important for information. And information is important for knowledge. And you can make better and great decision by analysing data on behalf of knowledge. And it is very important for every human being to analyse data before making any decision. Not matter it is personal or professional.

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