|As it quickly becomes the most important resource of the current generation, the most valuable thing people can do with data is how to properly manage it / Photo by: scanrail via 123RF|
As it quickly becomes the most important resource of the current generation, the most valuable thing people can do with data is how to properly manage it. It is pointed out by Forbes that “data provenance” will be one way people can be able to manage data.
Data provenance is known as the “record of components, inputs, systems, and processes that affect collected data, providing historical context.” Through provenance, people and companies can find out through analytics and AI where data comes from and how exactly they can use it.
This gives the benefit of not having to misuse data. Data provenance can also come into play with a future that may be reliant on the Internet of Things (IoT) because it can provide the IoT a better process of saving money by providing ways to accurately use the right data at the right time.
In the same way people don’t often trust politicians with seedy backgrounds, data provenance protects companies from the pitfalls of using wrong or irrelevant data. These data need to be just right, of course, because using wrong data often leads to wrong analytics.
By combining the understanding of where certain data comes from, analytics and AI are better able to truly filter quality data versus “averaged” data, which are data that “provide the wrong recommendation more often than not.”
Finally, it also must be said that having a record of every facet of where a data may come from or what processes it has been through is important because it improves the transparency of data. It helps analytics and AI make more confident decisions because they are given extra information about how to handle and track data that runs through them.
In the age of IoT, learning the difference between quality and non-quality data is quickly becoming necessary, especially since so much data is flooding right now that data regulation is going to be the next big thing in the market.