How Data Has Evolved

In reflecting on our fifth year in business, we could not help but think about just how much data has changed over the course of our careers.

The Early Days

When many of the 173tech team first entered the data world, the tools and systems were relatively simple. There were basic mechanisms to collect data and monitor what was happening within an organisation. However, these systems were limited. As soon as someone asked a question that went beyond basic metrics—such as how many users were active, getting an answer became complicated. The systems in place were cumbersome and required significant resources to provide answers to more complex queries.

At that time, the awareness of what data could achieve was also limited. Many people did not fully grasp the potential of data collection and analysis. As a result, the use of data was constrained by both the technology available and the understanding of its value.

The Shift

Over time, awareness grew. Businesses started to recognise the value of data, and the demand for more sophisticated tools and systems increased. The principles of data collection and analysis—things that have been around for decades—remained the same, but the approach and technology evolved. We saw a fragmentation in the market with a lot of specific tools for specific use cases making data and analytics significantly more cost effective and therefore more accessible to most companies.

Today

Today, we have an array of sophisticated technologies that allow organisations to perform highly complex analyses. Data is no longer just about tracking simple metrics; it is about understanding deep insights, predicting trends, and making informed decisions. Millions of records are collected every hour by companies worldwide, providing a treasure trove of information that can be harnessed to drive business growth.

What stands out in the current data landscape is the sheer speed of innovation. The space is evolving so quickly that it can be challenging to keep up. Almost every day, new tools, technologies, and vendors emerge, offering even more advanced capabilities for data collection, analysis, and centralisation.

Today, we are spoiled for choice when it comes to data tools and technologies. The options are vast, and the capabilities are immense. But with this abundance comes the challenge of making the right choices and not getting overwhelmed by the possibilities.

Conclusion

For businesses, the key takeaway is clear: don't wait. The tools and technologies available today offer unprecedented opportunities to harness the power of data. The sooner businesses start leveraging these tools, the sooner they can reap the benefits.

The core principles of data have remained unchanged. How you define what is valuable, how you go about centralising it, and how you create powerful metrics are all fundamentally the same. If you want to work with an agency who understands these core fundamentals and can help you navigate the plethora of data tools to find a bespoke solution for your company, get in touch with the friendly team here at 173tech.