Blog | Data Science and Technology

Let's go back to 18th century ,when development was taking its first footstep.The time when oil was considered to be the subset of industrial revolution. Oil than tends to be the most valuable asset in those time. Now let's come back in present. In 21st century, data is vigorously called the foundation of information revolution. But the question that arises is why are we really calling data as the new oil. Well for it's explanation Now we are going to compare Data Vs Oil Data is an essential resource that powers the information economy in much the way that oil has fueled the industrial economy. Once upon a time, the wealthiest were those with most natural resources, now it’s knowledge economy, where the more you know is proportional to more data that you have. Information can be extracted from data just as energy can be extracted from oil. Traditional Oil powered the transportation era, in the same way that Data as the new oil is also powering the emerging transportation op...

It is rightly said that Data Scientists would be shaping the future of the businesses in the years to come. And trust me they are already on their path to do so. Over the years, data is constantly being generated and collected as well. Now, the field of data sciences has put this humongous pile of data to good use. Now, data can be collected, processed, analyzed and converted into a highly useful piece of information that would benefit the businesses with better and well-informed decision-making capability. "Data is a Precious Thing and will Last Longer than the Systems themselves." Also, Vinod Khosla, an American Billionaire Businessman and Co-founder of Sun Microsystems declared – "In the next 10 years, Data Science and Software will do more for Medicines than all of the Biological Sciences together." By the above two statements, it is clear that data proliferation will never end and because of that, the use of data related technologies like Data Science and Big D...