We live in an age of information where numbers are essential to creating an efficient knowledge-based economy. Unfortunately, there is still much to be done to develop big data. Indeed, while there has been an explosion of statistics over the past few years, the collection and dissemination of data has not been without hiccups. As The National reported yesterday, the Higher Education Data and Statistics project has been hit by a sudden exodus of staff, affecting its work. As a country, we need to do a better job of the numbers and data that define our lives and sketch out the horizon of our future.
Having properly collated data makes government better in all that it does. In the case of higher education, for example, more information could help researchers and policy makers assess the effectiveness of pedagogical reforms, and plan ahead. It might also provides students and parents the information they need about prospective universities. Quite simply, it means being able to make better decisions.
Statistics also has an important role to play when it comes to economics. A comprehensive and timely set of economic, demographic and monetary data could give businesses the tools they need to better understand demand in order to calibrate supply – in fact, do this right and you have a better shot at controlling price rises. Data also gives both small and large businesses the opportunity to improve their marketing, public relations and stock inventories to reach a wider range of customers.
Meanwhile, budding entrepreneurs looking for the right opportunity can mine data to identify nascent and evolving developments. From this comes business models and new enterprises. And from this comes an increase in the wealth of the nation.
Of course, some data must remain confidential. There will be data that are proprietary or are of a sensitive nature. Clearly, not all data is meant for full public disclosure. But it would be very desirable to have as much information as possible available to the public.
Scientific boffins tell us numbers define every aspect of our physical world. They are right. Taken a step further, in understanding our lives as defined by numbers, we have a better opportunity to chart our future. The UAE has done an increasingly better job in defining the country through numbers. Let us have no let up.
