The Future is Data!

The phrases like “Big Data, Data Analytics or Data Science” are getting much general this days. IT geek to any under/grad scholar or any who wanted to catch up and build a career in the field of data often love this tagline. In the scenario of Nepal, Data hypes are growing faster, the local tech industries, outsourcing companies and even The Government of Nepal nowadays focusing on Data and consequences. The past few years have seen a growing focus on data as a key driver of technological development. It’s expected that data is the next step of revolution in the Technology of Nepal. Internationally, the data revolution has emerged as a key paradigm.

What is Data?

We see a data everywhere, a distinct piece of information with a set of values that can be either qualitative or quantitative. Usually, formatted in a special way to measured, collected and reported, analyzed and also it can be visualized using images, graphs or with any analysis tools. Digital data exist in the very rapid way, doubling in every two years. The Research by computer giant IBM shows, 2.5 gigabytes (GB) of data was generated in 2012.

Contributor writer to the Forbes, an author Benerd Marr, in his article states that Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. This implicates the importance of knowing at least the basics of the field. After all, our future is here, the future is data.

Source: Internet

Data Science vs Big Data vs Data Analytics

Data Science is an interdisciplinary field dealing with unstructured and structured data. Also, uses the scientific method, algorithms to extract the data for the various purpose.

Data science combination of programming, statistics, mathematics, complex problem solving and capturing the data to analyze in a very different way. Data science helps to understand and analyze the actual phenomena of the information. The Harvard Business Review, in 2012, called it “The Sexiest Job in the World” the term “Data Science” became a buzzword.

Big Data consider as the homogeneous volumes of data both structured and unstructured that inundates business on day to day basis. The processing of big data begins with raw data, and it does not amount of data that is important, it’s all about what organizations do with the data that matter. Big data is something that can be analyzed insights which can lead to a better decision and strategic business move.

In border sense, Big Data consist of 3V dimensions; the extreme volume of data, the wide verity of data, and the velocity of data. The voluminous data can come from any medium with different sources like business sales record, customer records and with the different real-time sensor that used IoT (Internet of Things). The wide verity of data come from wide areas of file types that are structured or unstructured one. They are responsible for day to day life of human activities, it is innovative forms of information processing that enable enhanced insight, decision making, and process automation. Finally, velocity refers to the speed at where data are analyzed. Big data analysis expand into the different fields like machine learning and artificial intelligence, where the analytical process is done using different patterns and finding the results. Big data are very important for cost reduction, time reduction, new product development and optimization along with smart decision-making process.

Data Analytics is the catchword today in the technology industry. Data Analytics is the science of examining raw data with the purpose of drawing the conclusion about the supplied information. According to the Wikipedia, Data analytics is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.

Data analytics has multiple facets and approaches. Data Analytics has multiple dimension that helps the business managers or any organization make informed decisions to drive the company forward, improve efficiency, increase profits and achieve organizational goals.

Data is Beautiful Future

Nepal, consider and expected as tech revolution marketplace. Many local IT companies along with International companies are growing day by day. Opportunity is still on the frontline to those who love to build a career in the tech field. Companies like GrowByData, Deerwalk and Cloud Factory Nepal are some of the examples who create a footprint in the field of Data Innovatory. This clearly shows many other companies are in the line up to work on big data, complex problems, and analytical services. Many organization now in Nepal start hiring and looking to those qualified candidates who know to solve the complex and analytical issues. One of the edition of Harvard Business Review stated that scholar of this era must prepare to grasp the whys and hows of the questioner to solve many complex problems along with biggest social and technological challenges raise in the companies. This clearly mentioned how important data and analytical field is today for tomorrow.

Nevertheless, Nepal has lots of challenging issues in almost every step but also the regardless effort for change is the biggest strength. With the declaration of the Federal State and different provinces definitely helps to achieve any goals positively. The government of Nepal, should also be serious about this issue and apply the open door policy to welcome many Foreign Tech Companies to startup and generate Nepal as a working place. The report by Centre for the Study of Labor and stated that around 1500-1800 un/semiskilled youths are leaving Nepal every day due to Nepal unable to create the skillful job opportunity and market. Out of those, if Government only able to manage and create an opportunity for those 20 percent skillful youth in the field of technology it really expected to be great destructive changes in the country GDP.