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Big data is green gold that it’s yet to be explored

Tuesday, January 30th, 2024 00:50 | By
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Did you know that approximately 2.5 quintillion bytes of data are generated every day?

According to Internet Live, there are over 100,000 Google searches occurring per second. That amounts to more than six million searches per minute, 350 million per hour and a staggering three trillion searches annually.

Data is about the lives of people, and if we know more about the lives of people, we can find better solutions for the betterment of life.

These statistics highlight the immense volume of information being produced and consumed in the digital age. The sheer magnitude of data generated on a daily basis is mind-boggling. With the advent of advanced technology and the widespread use of the internet, our world has become a data-driven society.

A Google search, a credit card scan in your local petrol station, a barcode reading in a supermarket, your online shopping history, that security detail you leave in buildings, CCTV footage, a photo of your vacation, a voice message, a tweet, your social media interactions, all of these contain data that can be collected analyzed and monetized. It is worth noting that users contribute a significant 70 per cent of the world’s data according to baseline analytics.

With the advent of advanced technology and the widespread use of the internet, our world has become a data-driven society. The exponential growth of data has transformed the way we live, work and interact with one another. It has revolutionized industries, from healthcare and finance to marketing and entertainment. Globally, organizations now rely heavily on data analytics to gain valuable insights, make informed decisions and stay ahead in a highly competitive landscape. But, how can we use data to our advantage?

In 2022, Africa received about US$210.7 billion in aid alone, marking a 17.0 per cent increase compared to the previous year. This figure will not decline unless Africa’s intra-trade experiences substantial growth. To foster trade, African countries must share data, which will shade light on where products are and serve as a catalyst for eliminating intermediaries and streamlining transactions. Enhanced intra-trade holds the key to Africa’s progress. By bolstering trade within the continent, Africa can reduce its reliance on external aid.

In Kenya, Big data has the potential to revolutionize the economy by ushering in a new era of economic growth and development. With over 50 million population and rapid digitization, Kenya has become ideal for harnessing the power of big data. By collecting, analyzing, and utilizing vast amounts of data from various sources such as mobile phones, social media, and internet usage patterns, businesses and policymakers can gain valuable insights into consumer behaviour and market trends to bolster resource allocation.

The impact of this data explosion is not limited to businesses alone. As individuals, we are constantly generating and consuming data through our online activities and digital transactions. Our preferences, behaviours and personal information are all part of this vast digital ecosystem. Small businesses have the incredible potential to utilize data as a catalyst for growth and informed decision-making. By collecting and analyzing customer data, such as demographics, purchasing patterns and feedback, small businesses can unearth valuable insights about their target market. This wealth of information can then be utilized to develop more targeted marketing campaigns, personalize customer experiences and identify untapped opportunities for business expansion.

With great data power, comes great responsibility. It is crucial that governments prioritize privacy, security and ethical practices. Safeguarding sensitive information and ensuring data protection should be at the forefront.

It is critical that we embrace the era of big data while remaining conscious of the ethical implications and the need for appropriate data management. We can unlock the full potential of data by using it responsibly and ethically.

—The writer is an Innovations Evangelist and a PhD Candidate

[email protected]

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