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 The general belief is that Data is the new oil, however, it would be more accurate to say that processing speed is the next money maker. For the fact that the possession of data hardly does anything for the user if they are not able to process the same. In the Russian empire, a famous story of the misinterpretation of data exists where during the Spanish flu, the doctors were killed as the people interpreted that the position where more doctors exist is where more citizens of the empire were losing their lives. This flawed and misinformed interpretation of information available to them shows how detrimental even a small amount of information in the hands of people can lead to making or breaking choices being made. Information is as valuable as the means that are used to store it. 

When the question of information storage came into picture, the value in the spreading of ideas, events and philosophies was recognised due to which science, art, technology and ideas diffused to the rest of the world and was passed down to the successive leaders of any given region.Let’s come further in time, 1890 for instance. The United States had adopted the rebuilding policy after their civil war which had been in effect for almost two decades since Grant. An important tool that is periodically used by the United States executive was more important than ever at that point in time. The census would play a huge role in determining if the policies adopted by President Grant were beneficial to the former Confederacy and the former Slaves. But to process this information, they needed cutting edge tools as the US census prior to 1890 was flawed with data leakages and misinterpretations. This could not be afforded in 1890 due to them being detrimental for domestic executive and economic policy. 

Now, to apply the data into comprehensive policy, it became necessary for strategists to infer from small amounts of data. This became the cornerstone of the field of statistics where methods were devised where one could apply measurements from mathematics to crunch data for the purpose of deriving understanding of data. The story would be that with the measures of data categorised into variables, with a given setof values of observations at a given point in space for all of the variables combined, the projection of inference of information onto another vector field would gather information that can be translated into policy.The entire purpose of data inference from data is to create knowledge when there is less data available to the user.Enhancing the process of inferential statistics was the hallmark of the 20th century mathematics and statistics where we are able to, now with a click of a button, gather tools to read into data in the form of regressions and modelling ofdata.The above graph is a visualisation of what people close to smriti prefer given their interests. Hence, when shewishes to gift commodities to them, she would be able to refer to the above chart to increase the happiness of the people in her life.