in Data Industry

Data and Data Resources

What is a data resource?

The difference between data and a data resource is that the data exists solely on the internet and a data resource is collected with similar data and stored to a certain scale. For example, a data resource could be all telephone number of people living in a certain area, whereas data is only the single phone number of a resident.

There are different ways to classify data resources. It is classified based on the data organization, and how accessible is the data. There is sensitive data or available to public use data.

We will classify data resources into several types based on various interest or industry. Data resources described in this article are as follows:

  • Scientific data
  • Administrative data
  • Internet data
  • Financial data
  • Health data
  • Transportation data
  • Transaction data

What is Scientific Data?

Like Bill How said, “All science is fast becoming what is called data science.” []. Currently, the main objective of scientific research is the data so the data science is now a disciplinary field.

What is Administrative data

Data that is collected for non-statistical reasons that include information on registration, transaction and record-keeping is called administrative data. Administrative data is usually collected by the government. Example of administrative data is taxation, pension, goods received over the border, birth and death records.

What is Internet Data

Internet data originated from Joseph Licklider’s. Initially, it was based on the fact that every computer should be connected to every other computing device in the world. Almost half a century later, the World Wide Web was designed that merged physical networks of a different type, different scale, and different geographic areas into one by integrating triple play, 16 mobile networks, the Internet of Things, and cloud computing. [source]

What is Financial Data

Data that is used internally to analyze business performance in order to understand if the strategies work is called financial data. Financial data is the financial health of any type of company, doesn’t matter the size of the business.
Financial data is also used to evaluate the creditworthiness of the business.

What is Health Data

Any data that is related to health conditions, reproductive outcomes, causes of death, and quality of life for an individual or population is health data. It includes clinical metrics along with environmental, socioeconomic, and behavioural information pertinent to health and wellness.

Health data is collected by the health care system when the individual interacts with any health care organisation.

What is Transportation Data

Transportation data is any kind of data related to the automotive industry. It can be traffic counts, generators, land use inventory, travel behaviour or infrastructure status [source].

Transportation data can be roughly classified into three types:

  • trajectory data collected from on-board equipment,
  • fixed-position data collected from road- side equipment,
  • location-based data collected by geographic and satellite technologies.

What is Transaction data

Transaction data is collected from a large number of transactions in retail or commercial matters. Transaction data helps to analyse and understand which are the most selling products, can those be up-sold or not, can a product be repeated or not, helps to evaluate and give a forecast for next year’s revenue.

There are two types of transaction data, receipt data and eCommerce data.