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What are data conversions?

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I recently got asked to invest in them. buti dont know wat they are.

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  1. Data conversion is the conversion of one form of computer data to another--the changing of bits from being in one format to a different one, usually for the purpose of application interoperability or of capability of using new features. At the simplest level, data conversion can be exemplified by conversion of a text file from one character encoding to another. More complex conversions are those of office file formats, and conversions of image and audio file formats are an endeavor that is beyond the ken of ordinary computer users.

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