In 2017, it was proposed by The Economist that the world’s most valuable resource was no longer oil, but data. In fact, as early as 2006, this shift in our technological activity was hypothesised, including the value that mining and analysing data would hold for us in the future. As a discipline that builds on the value of data mining and analysis, data science improves our knowledge and understanding of specific realities.
In the same way that oil is refined before it’s used, so must data be in order for it to later be analysed and used to effect change. As it stands, over 60% of the global population has access to the internet, contributing to a projection that in 2021, around 79 zettabytes of data were produced – that’s the equivalent of over two trillion 4K movies. With this number currently doubling every two years, big data is becoming big business.
Read the full article from our 2021 annual report here.