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A Little at First and Then All at Once: The Growing Value of Data
Data has quickly become as valuable as gold to many businesses and organizations, especially with how many products and services have evolved to be more digital than not. If we think back to merely a decade ago, or perhaps even a little farther, we already had early iterations of smartphones, tablets, and other mobile devices while computers and the Internet had quickly become a staple in our everyday lives.
In the early years of the Internet, and leading up to the days of mobile devices, collecting and analyzing data was a slow process. Information had to be stored somewhere, and companies often outsourced this storage to remote servers for later review. Keep in mind that data was a lot simpler years ago, as much of it wasn’t needed the moment it was collected, but, instead, it was leveraged each quarter when discussing sales, customer behaviors, and new marketing strategies.
But times have changed, and now, in these highly connective, digital days, there is much more diverse data that allows companies of all kinds to offer much more with their products and services, and likewise, leverage that data to better their internal business processes as well.
