Mane Product & Technology Issue 5 - August 2018 - Page 18

DECIPHERING DATA

To outsiders, data might seem pretty simple. Data is stored and then someone tries to make sense of it. Sounds pretty simple right? Working in the data industry, I think it is far more.

The huge amount of work that goes into managing, maintaining, extracting and analysing data to make any real sense of it is a science. It is not just something that any thirteen-year-old could do. The managing and maintaining of data alone is a multi-million-pound industry, and that is just the beginning.

The deeper one goes, the more complex and intriguing data and its various purposes and functions get.

Data can be interpreted in a number of ways depending on its purpose. These countless methods allow for increased innovation in how it can be manipulated and stored, thus making the data almost natural in how it can evolve and develop.

Let me explain why I think this - Take the data trends. It starts with pure data and looking at how it could be stored effectively, to then being used to understand company trends and then create predictive models. Data can even create cost-effective business plans that now lie at the heart of many business models.

Looking ahead at the industry future, the growing trend of using data towards Artificial Intelligence (AI) looks like the logical next step. The ability to let a machine do all of the heavy-lifting and provide solid and regular reports is all the craze currently. The obsession with creating human-like robots, moving backwards and forwards similarly to that which humans while jumping from one programmed function to the next.

I believe AI is so vital to many businesses. It can be seen as a quick and manageable way to manipulate data and then provide the relevant information. In my opinion, the further AI can be taken, the better. This is due to the untapped potential that data has, but also the world has for AI to operate and perform in.