In 2006, British mathematician and entrepreneur Clive Humby said, “Data is the new oil.” The Economist furthered that comparison between the economy that has risen around data and the oil industry in a 2017 article.
Comparing data to something valuable and coveted all over the world, such as oil, or even gold, helps people understand just how much of a commodity data has become, but it’s also important to remember that data is its own thing and must be approached with a different mindset. Fortunately, there are some changes on the horizon that will make personal data more collaborative and consistent. This will benefit individuals and large corporations alike.
