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Transformation of data and analytics with information technology

The world we are in is driven by data. In other words, Data has been the backbone behind this transformation with technology.

In the early days, trade was driven purely by commodity exchange for which the data was captured in numerics. Later, after the invention of coins and subsequently printed money the idea of market expanded with the printed money being able to be a common currency.

For this study, let us take the emergence of the United States' economy.

From the advent of market economy starting 19th century, consequently there was a need for a banking system and public investment through stock markets and US had higher flow of goods and services, enabling a larger consumer base which meant the data was saved in paper and pen.

This resulted in a need to store this data better, which the technology enablers started doing throughout the 20th century. So for this it needed to be stored in servers for there was a visual input and output needed.

This enabled the pursuit for faster processing for input and output of data with analytics, which resulted in storing this data in huge servers and users needed operating systems & processors to get access to these servers and for analytics they needed enterprise packages.

After the starting of 21st century, after the advent globalisation there is a much wider and integrated consumer base, this pursuit has just become faster and smarter, enabling much faster operating systems & processors to access data on the go and much more analytics tools.

Today we have reached the point of accessing data from cloud anytime, anywhere through cloud though data is stored in cloud servers worldwide.

On the analytics perspective we are starring at artificial intelligence to make add smarter insights.

Still this pursuit is young. Data is the potential energy and Technology is the kinetic energy driving it.




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