Articles

Here’s Why Data Is Not The New Oil

It’s a claim you’ve probably heard multiple times – “Data is the new oil!” Now it’s true, that in some ways, the analogy fits – it’s easy to draw parallels due to the way information (data) is used to power much of the transformative technology we see today – artificial intelligence, automation and advanced, predictive analytics.

However, in many ways, it’s also lazy and inaccurate – and while it’s handy as a marketing shorthand (because it gets across the fact that data is a valuable commodity with many different uses across many applications) it’s also potentially problematic. The concept is usually credited to Clive Humby, the British mathematician who established Tesco’s Clubcard loyalty program.

Source: forbes.com
Author: Bernard Marr

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