Data vs. Information:
Raw data by itself is not very interesting. However, by applying purposeful processing with analytic algorithms to your data you can turn the unattractive bundles of characters and numbers into information and patterns, thus exposing the beauty and value of the data. But wait, there’s more. Information that is merely explanatory is less valuable than information that leads to action. So the promise from data science is that the value for your data is in the analytics and that the highest value is in the analytics that leads to action. Do you agree? Let us examine the value chain of analytics together.