The future belongs to the companies and people that turn data into products

Are you looking at your hidden assets, how usage of your data creates new data? Are you mining it and creating newer products? This post speaks to all of us. It also talks about

The future belongs to the companies who figure out how to collect and use data successfully. Google, Amazon, Facebook, and LinkedIn have all tapped into their datastreams and made that the core of their success. They were the vanguard, but newer companies like bit.ly are following their path. Whether it’s mining your personal biology, building maps from the shared experience of millions of travellers, or studying the URLs that people pass to others, the next generation of successful businesses will be built around data. The part of Hal Varian’s quote that nobody remembers says it all: The ability to take data — to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it — that’s going to be a hugely important skill in the next decades.Data is indeed the new Intel Inside.

via What is data science? – O’Reilly Radar.

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Data science democratized

Interesting post. I always wondered how people might use all the scatter diagrams and other data visualization graphs that are available in various scientific fields. Here’s a thought from Mac Slocum at O’Reilly radar.

Significant implications emerge when you can bounce a question, even an innocuous one, against a huge storehouse of data. If someone like me can plug questions into a system and have it do the same kind of processing once reserved for a skilled minority, that will inspire me to ask a lot more questions. It’ll inspire a lot of other people to ask questions, too. And some of those questions might even be important.

via Data science democratized – O’Reilly Radar.