Data Is The New Oil

In 2017, an article in The Economist flouted a then-controversial theory: Data had dethroned oil as the most valuable resource in the world (see The World’s Most Valuable Resource Is No Longer Oil, But Data). While controversial at the time, “data is the new oil” has become almost cliché as the market value for data could reach up to $280 billion by 2025 (see How Has Data Become The World’s Most Valuable Commodity?).

But while every organization has reams of data, useful information and data-driven insights from that data are not common. Data, like oil, is . . .