Benefits and Effects of Data Revolution on Business, Society, and Individuals

Data Revolution
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Data Revolution
Over the last few years, there has been a massive growth in the way people create, store, and use information. In both societies and business worlds, the data revolution is proved the basis of completion and growth. This discussion compares and contrasts both the benefits and adverse effects of data revolution on small businesses, society, and individuals.
The need for businesses to derive insight and compare to their counterparts influences the enormous growth in the data revolution. For any company to make better, informed, and accurate and real-time decisions, there is a need for them to look for enough data (Lauro et al., 2017). Data revolution exposed small businesses to adopting business data analytics to help in the growth of their businesses. By understanding business analytics, small businesses can understand the market share, thus increasing customers’ traffic. This directly correlates to the increase in profitability. To add on, data assists improve employee productivity, customer satisfaction, and retention. Finding the correct sources of data and structuring data is one of the ...