In the digital age, data is the new oil, and it is transforming the way businesses operate and society functions. Datafication refers to the process of transforming analog data into digital form to be analyzed and used for decision-making. This process has resulted in the generation of massive amounts of data, which has led to the development of new technologies such as Artificial Intelligence, Machine Learning, and Big Data.
The impact of datafication on businesses is immense. Data-driven insights can help organizations make better decisions, optimize processes, and enhance customer experiences. Data analysis tools can provide valuable insights into customer behavior, preferences, and purchase patterns, enabling businesses to personalize marketing campaigns and improve customer retention.