2. DATA / NUMBERS
•
Data is created everywhere, the extensive use of data is known to be
seen in Government organizations, Manufacturing, Financial, and
Healthcare sectors
•
In addition social networks such as Facebook, Twitter, Instagram and
the development of smart phones are one of the main sources of data
•
Marketing and research companies compile these data from different
sources to make meaningful attributions, inferences, and decisions.
•
Data has never been so important in an age of the rapid development of
technologies that allow us access to information at an unprecedented
rate
3. DATA IN FINANCE
•
The 21st century global financial system is constantly stimulated by data
because information flows are rising at an exponential pace
•
For electronic traders, ultrafast, and real time information is essential
because milliseconds make the difference between a competitive
advantage
•
Under the token of big data, data helps navigate the intertwined financial
system including economics, regulation, corporate finance, asset
management, risk management, insurance , technology and marketing
•
Investment trading strategies are influenced by sources of data such as
Dow Jones
4. BIG DATA COMPANIES
Companies such as Intel, IBM, Vendor, major banks, and investment funds
are dependent on data and numbers to remain competitive in their
respective market
Major banks like Goldman Sachs, and JP Morgan would not be able to post
consistent and high returns with out their data filled quantitative models
or their number crunching analysts
People who can manipulate data can create a level of transparency that was
once unrealized or unclear
“It is a capital mistake to theorize before one has
data” – Arthur Doyle
5. DATA IN THE ECONOMY
S E C TO R A L D ATA
•
Data collection is essential to
utility companies that provide
commodities like natural gas to
heat homes. For example: This
winter United States has used a
record amount of natural gas to
heat their homes due to the polar
vortex that has kept temperatures
very low. Due to this data Oil
prices have risen 45% this year as
homes and businesses across the
Midwest and Northeast consume
record amount of fuel to get
through this winter.
C L A S S I F I C AT I O N S
•
Categorizations like the
poverty line, health indices
like the BMI, and optimal
nutrition levels are enabled by
the ability to analyze and
present data in a meaningful
way.
6. DATA AND THE CENSUS BUREAU
•
The world population is growing each and every moment, data and
numbers analyzed by the Census Bureau gives us a sense of the growth
of countries in connection to their population
•
For example GDP per capita which measures the value of all goods and
services produced within a country in a given year, divided by the
average population for the same year.
•
Calculating birth and death rates in a certain country is directly affected
by the kind of data they receive. For example Japan is actually
encouraging women to have babies because their birth rate is at a
record low decline and. A fertility rate of 2.0 per woman needs to be
maintained.
7. IN CONCLUSION
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Throughout our lifetime, data and numbers will lead us to reach a
consensus and help us make judgments that will change the world.
•
They help everyday people and provide a point of reference to normality
•
Data has an enormous impact on everyday life in almost every
profession and line of business. More importantly it determines the
efficiency and the effectiveness f the work they do.