Data is the New Oil of the Digital Economy.

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    Data in 21st century is like the immensely valuable asset for those who understands the value of data in todays world. More than 500 million Internet users are there in India. But only a 38.5% of total population has access to the Internet.

    With the continous evolution of Internet and technology, people are now more dependent on data than other resorces. India has abundance of data and they are being utilised at the right place. Various businesses or footprints collects valuable data for generating more information and revenue for their businesses.

    Where you go, what you eat, where you shop, how much you spend , these all adds up to the data mill. Your data is being collected in every activity of your life. You must have come acrossed some shopping brands, asking for your mobile number and name. Right? This is because they are using your data for data mining. Data is being used to update and improve everything.

    Business uses these new filtered data to bring more opportunities to their businesses. Data mining helps the businesses to gather and improve customer retention, up sell and improve the customer service. In 21st Century, Data is considered as Oil and India has vast data required for the development of the Country. People across the country is trying to utilise this “resource” in the best way possible and new products and services are being developed with the help of these data.

    Whether its Facebook or Google, each of them is utilising and collecting the data based on our online activity. Do you know that Google maps, is using your data for their further updation when you switching on youre mobile location? You moving car can help them to identify the traffic on road and accordingly they update the same on the google map app. This is how you get the faster route option on Google Maps.

    How we are using the data in our daily life indicates and defines the next wave of technology. Data has now become the most valuable resource and it should be extracted, refined and distributed ethically to drive better growth and development of the country.

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