The power of data–what do we do with it?

DATA has become the new life force driving the world today, powered by digitalization.

Most of us have already access to a staggering amount of digital information, due largely to pervasive technology. More knowledge than ever is at our fingertips. Humans and machines will only continue to accelerate the creation and storage of this growing amount of data and media to be searched, harvested, and rendered.

In the future, we will all have network access to easyto- use, massively powerful decision- making and planning tools running on common utility supercomputer grids, distributed across the Internet.

There are four component-technology clusters supporting the change from sparsely sourced to deeply informed decision- making and planning:

Data mining is the use of statistical and visualization techniques to uncover trends and relationships within massive databases. Data mining is common with financial data, medical data, census data, and across the web as a whole. The trends sought after are often non- obvious and require substantial data manipulation, either through a directed search to test a particular hypothesis, or through less bounded exploration to find unexpected results.

Predictive analytics and data automation will be some of the hottest topics for business. Predictive analysis will allow business to assess future economic conditions, risk areas, climate trends, infrastructure maintenance and investment needs. It is obvious that companies have to train their staff in data analytics so that they can respond to market opportunities faster and— at the same time— avoid disruptive innovation for the organization.

Knowledge visualization and simulation are specific graphical and tactile user interface techniques for interacting with massive and complex knowledge. The greatest benefit of visualization is its ability to communicate concepts difficult to adequately describe or grasp in words: things that are too large (a galaxy), too small (an electron), too slow (an eon), too quick (a nanosecond), too complex (an engine), an ecosystem (a weather system), or too abstract (an equation, a heuristic, a process, a trend, or an analytic model). Knowledge visualization and computer simulations give us the ability to operate and manage otherwise unimaginable tasks. Microsoft’s Excel and Power BI programs are of big help. Our webinars are attracting hundreds of participants.

Pattern processing is the mathematical analysis of two- dimensional images like sensor patterns, photographs, satellite pictures, facial expressions, video images and voiceprints. As we continue to learn how to better process patterns, our computers will be able to interpret meaningful information from an otherwise opaque environment. Pattern processing is an integral part of voice recognition and biometric authentication techniques for confirming our identities based on retinal patterns, genetics, voice and fingerprints.

How does this impact the future of work?

COMPARED to our still somewhat limited capabilities today, working people will have to be upskilled to be able to use the powerful capabilities to access, manage, manipulate, and visualize abstract processes and vast datasets.

Subsequently, each decision and plan we make will be based on a much deeper understanding of relevant data. Mathematics will become a necessary resource for sorting this information by redefining our workflow processes.

Important is that machines will not replace humans but they will be necessary mediators between data overflow and human analysts. The employee of the future will have to have sharp analytic capabilities, able to make sense of the filtered data.

In conclusion, we are to be guided by

Anticipation of likely future needs, trends and options (powerful data analysis);

Articulation of these needs to build collective understanding and support for action (data visualization included);

Adaptation so that there is continuous learning and the adjustment of responses as necessary (to stay ahead of the curve); and

Accountability, including maximum transparency in decision-making processes and openness to challenges and feedback (inclusion is the name of the game).