What is Data?
Data is a collection of raw facts and statistics such as images, numbers, observations, and descriptions in paragraphs, graphs, charts, etc.
These days Data is the biggest buzzword, changing perspectives towards everything, helping taking business decisions, helping in medical research, and almost in every sector.
Data can be:
- Qualitative:- Descriptive data
- Quantitative – Numerical data
- Discrete – data which only takes certain values
- Continuous – data with a value of any kind
Why is it important?
Data is useful information that is collected from measurements, observations, research, and analysis, then it is used by Data scientists in order to make important decisions. Data is being used to detect risks and fraud in the Finance sector, analyze genetics, and genomics in the healthcare sector, do internet searches, and many more.
The reason why data is important is that it:
- Improves People’s Lives
- Empowers to make business decisions
- Improve life quality
- Saves your time
- Helps to identify the problems
- Allows to develop the accurate theories
- Helps us to understand consumers and many more.
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