You have been reading about data. Data has become an integral part of the business world. Data is needed to approve credit and to begin a business transaction. The set of transactions thus initiated creates anothe volume of data, and so on. The collection of data has grown exponentially with the Internet. When the set of transactions is on the Internet, it is not only the transaction data but also all the network and tracking that comes before and all the financial data that comes after. Added to this is all the messaging that goes on associated with a business transaction. The entire concept and mode of e-Business, which is the way the business world operates, has become an ocean of data.
Much of these initial chapters are about the acquisition and storage of data. Later you will read about Big Data and about the use of data in business to make decisions, a very important area sometimes known as Data-Driven Modeling. Data-driven methods made possible by modern technology that can capture and evaluate patterns in data, have opened up new areas of business and management.
The other side of the data revolution is the dual questions of security and privacy. Very simple experiments with your cell phone will show you how much your cell service provider knows about you and your movements. The Internet provides access to information, and it also provides access to data to an intruder who may have other motives. We talk later about the security game, and it is more of a game than anything else.
