Is Data is the New Oil?

I think both are homogenous but can’t deny the fact that data is not the only new oil but data is the new fuel, new money and I guess everything also. Lots of companies have figured out are doing really well like Google, Facebook, E-commerce websites and many more. Nowadays, everyone is using lots of application and each website that people use and each page they view on the internet, they are leaving their digital footprint by sharing their personal information like where they eat, where they go, where they purchase, where they hang out, what they do, where they spend their time and many more. Whatever they do, their data is going to be crushed in a data mill.

Well, India has lots of data, and the number of people using smartphone is increasing day by day and it’s pretty obvious that more people get online and they deliver their data by sharing their personal information to the Google, Facebook, Instagram, YouTube, Amazon, and others ride sharing, food delivery, grocery apps like Grofers, Paytm and many more. Their data is being owned by such private companies for governance and policy purposes like Uber and Google Maps by the location they share and these data provide the information about people, how they live and travel in urban or rural areas. It could be helpful too for making travel easier by doing solution in the development of our country. But you have to be very careful by processing and sharing the data. So use it better, and protect the privacy of citizens as well. Now, this is the high time to pay attention sincerely to the issues of data protection and localization.

Data information is the best way to be in touch and exchange the ideas or information conveying a story about human interests. The world has become systematically arranged and the lifestyle of the people has extremely upgraded because of the state of being available data of the population at large.

Use of Oil is Industrial Age and Data comes in Information Age

Using data in a positive and constructive way solves human problems and it defines the high wave of technology. Using oil, transportation has been gone through a drastic change, where people were only dependent on animals in long back in decades and now it has developed and progressed the world into a better way by takes our financial state at a higher platform and evolving a huge amount of luxury, wealth, well-being and prosperity. Well, similarly people have machines now which are specified for conducting as per the need of using oil and it has the power to make things happen. Data also holds the equivalent perspective and is already conducted and created most valuable identifications in the world.

Data has become a vital resource on the planet. However, it needs to be morally extricated, filtered, dispensed and valued. As oil has ballooned and generated wealth for the mighty country, the next era of growth will be ballooned by data.

So the conclusion is oil has the energy which makes people wealthy and data has similar emphasizing behavior that makes people advantageous. Thus it is a plus point to the system, trade of a nation or region.