Normal Length Words:
One way to do this is to use \nohypens
from the hyphenat
package. Here is a comparison without (on the left) and with \nohypens
(on the right):

Notes:
If you wish to disable hyphenation for the entire document (not that I am recommending that), you can use
\usepackage[none]{hyphenat}
Code:
\documentclass{article}
\usepackage{hyphenat}
\newcommand{\Text}{%
This is my first text for wrapping word
in a file. This text need to be
adjusted and acted based on the table
which need to be modified and tested
basedonthethedata which is given here.
}%
\begin{document}
\begin{minipage}{0.4\linewidth}
\Text
\end{minipage}%
\hspace*{2ex}
\begin{minipage}{0.4\linewidth}
\nohyphens{\Text}
\end{minipage}%
\end{document}
Very Long Words:
If you have really long words, you need to specify where the breaks can occur in the word.
Below, I have used a solution from How to break long word containing symbols but with no hyphen? to automatically add a possible break after every letter (the macro is not complete, but the code just needs to be duplicated for each letter/character after which you want to allow a break).

Code:
\documentclass{article}
\usepackage{hyphenat}
\usepackage{xstring}
\usepackage{forloop}
% https://tex.stackexchange.com/questions/53965/how-to-break-long-word-containing-symbols-but-with-no-hyphen
\newsavebox\MyBreakChar%
\sbox\MyBreakChar{}% char to display the break after non char
\newsavebox\MySpaceBreakChar%
\sbox\MySpaceBreakChar{\hyp}% char to display the break after space
\makeatletter%
\newcommand*{\BreakableChar}[1][\MyBreakChar]{%
\leavevmode%
\prw@zbreak%
\discretionary{\usebox#1}{}{}%
\prw@zbreak%
}%
\makeatother
\newcounter{index}%
\newcommand{\AddBreakableChars}[1]{%
\StrLen{#1 }[\stringLength]%
\forloop[1]{index}{1}{\value{index}<\stringLength}{%
\StrChar{#1}{\value{index}}[\currentLetter]%
\IfStrEqCase{\currentLetter}{%
% All the characters where you don't want hypen
{a}{\currentLetter\BreakableChar[\MyBreakChar]}%
{b}{\currentLetter\BreakableChar[\MyBreakChar]}%
{c}{\currentLetter\BreakableChar[\MyBreakChar]}%
{d}{\currentLetter\BreakableChar[\MyBreakChar]}%
{e}{\currentLetter\BreakableChar[\MyBreakChar]}%
{f}{\currentLetter\BreakableChar[\MyBreakChar]}%
% list other letters here.
{z}{\currentLetter\BreakableChar[\MyBreakChar]}%
% All the charactes where a break should have a hypen
%{ }{\currentLetter\BreakableChar[\MySpaceBreakChar]}%
}[\currentLetter]%
}%
}%
\newcommand{\Text}{\setlength\emergencystretch{.5\textwidth}%
This is my first text for wrapping word
in a file. This text need to be
adjusted and acted based on the table
\AddBreakableChars{Ultramicroscopicvolcanoconiosis},
\AddBreakableChars{Pneumonoultramicroscopicsilicovolcanoconiosis}
which need to be modified and tested
basedonthethedata which is given here.\par
}%
\begin{document}
\begin{minipage}{0.4\linewidth}
\Text
\end{minipage}%
\hspace*{2ex}
\begin{minipage}{0.4\linewidth}
\nohyphens{\Text}
\end{minipage}%
\end{document}