Understanding the 'Data is the New Oil' Analogyby@Turner
744 reads
744 reads

Understanding the 'Data is the New Oil' Analogy

by Matthew5mAugust 7th, 2020
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

The first person who compared data to oil was Clive Humby. He meant that data is useless until it’s put to work and is refined. To become like gas or oil, data should be collected, analyzed, interpreted, and used. Big data is more than a billion lines or more than petabyte. Microsoft, Amazon, Apple, and Facebook own such an amount of data that nobody can even imagine. Companies that base their development strategy on data massive get 5% greater revenue than companies that do not rely on that.

Companies Mentioned

Mention Thumbnail
Mention Thumbnail
featured image - Understanding the 'Data is the New Oil' Analogy
Matthew HackerNoon profile picture
Matthew

Matthew

@Turner

Share Your Thoughts

About Author

Matthew HackerNoon profile picture
Matthew@Turner

TOPICS

THIS ARTICLE WAS FEATURED IN...

Permanent on Arweave
Read on Terminal Reader
Read this story in a terminal
 Terminal
Read this story w/o Javascript
Read this story w/o Javascript
 Lite
L O A D I N G
. . . comments & more!