It can also be used to create new products, new features-even disruptive new companies and markets. Data can improve the overall performance of a company and help them make better decisions. Since 2006, people have been quoting British mathematician Clive Humby’s famous phrase, “Data is the new oil.” However, a strong case can be made that data may actually be more valuable than oil-some of the world’s most highly valued companies are data companies deriving much of their value from virtual assets.Īs Forbes pointed out, nowadays, every company is a data company, and the value of data is growing.
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