Is Data now officially worth more than Oil?

Oil has reigned for centuries as one of society’s most valuable resources. Throughout history, those who have controlled oil, have controlled the economy. However, in today’s “data economy,” it can be argued that data, due to the insight and knowledge that can be extracted from it, is potentially more valuable. Like oil, raw data’s value comes from its potential to be refined into an essential commodity.

Let's go back to 18th century, when development was taking its first footstep. The time when oil was considered to be the subset of industrial revolution. Oil than tends to be the most valuable asset in those time. Now let's come back in present. In 21st century, data is vigorously called the foundation of information revolution. But the question that arises is why are we really calling data as the new oil. Well for its explanation let's turn the clock back when crude oil was the most important product for running industries ,as it lead to the making of fundamental requirements of petroleum, gas and plastics. Although it was only possible if crude oil is completely refined and filtered. Similarly data in today's worlds acts as a raw material which must be analysed, processed and fetched carefully so that it can generate useful information for its users.

In today's world, data is used in an immense way within several organisations whether it is medical, information technology or any corporation. Many big companies like Apple, Facebook, Google has been significantly successful in accumulating a large amount of data which helped them to build a large-scale company. Data predominantly helps you to live your life more easily and sorted in this tangled world. Data is also taking ahead our economy in every sector. Data is everything today. In today's time data has become an exponential and is soon going to become natural resource for people.

When Data is refined into insights, data can drive good decision making and result in more revenue opportunities, cost savings and more operational efficiency for companies. 

But….., why has Jonathan sent this email to me??

For over 5 years, I have been building a network of trusted associates who are the life blood of the Data Industry. I am extending an invite to see if you are interested in joining my network. We are able to offer you an agnostic approach to your recruitment needs – ultimately, our aim is to identify the “Best of Breed” talent to help with our client’s Data led initiatives.  

Also, I run a few events which could be of interest and we regularly meet with our clients, and target clients to understand what is driving their businesses – with the Data industry on the rise the demand for Data skills is increasing massively, which means when it comes to hiring, you will need to partner with someone who has access to passive candidates and can shorten your recruitment time to ensure you get the best selection of candidates to hire.

I am keen to follow up with a call, or to meet you for coffee – when is best for you?