Advancements Of The Field Of Science And Technology

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In just the first decade of the 21st century, exponential advancements have been made in the field of science and technology. Computing capabilities have grown multifold and we are now consuming information in measures of exabytes, which could soon cross over into zettabytes. In fact, it was estimated in 2011 that all of the computers in the world collectively crunched 9.57 zettabytes (Turnbull, 2011). All this information has created a dependency on machines to deliver results in the fastest possible time, so that decisions can be made and actions can be taken at the earliest. This could be right from something as simple as an Excel sheet used for maintaining the finances of a household, to the computers that power Dow Jones. As can be imagined, any occurrences of failures can prove to be catastrophic, as was evidenced earlier this year. On the 8th of July, the servers at the New York Stock Exchange went down for over four hours, thus sending thousands of investors into a tizzy (Popper, 2015). Around the same time, United Airlines suffered a network issue that directly resulted in the cancellation of 61 flights and the delay of over 1,100 flights (Drew, 2015). As evidenced by these examples, no system is foolproof and therefore, it would be prudent for those who are in charge to develop plans to fall back on in case of such failures. To be able to tackle such issues, risk management programs are formulated. These programs try to offer comprehensive coverage of
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