The world’s most valuable resource is no longer oil, but data
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Re: The world’s most valuable resource is no longer oil, but data
#2something physical vs non-physical. The value association to oil is well known and varied, while data's value is still in its infancy.
I still believe the accuracy and trustworthiness of said data would still have to be proven or guaranteed in some fashion in order for it to become considered a true resource with a tangible value attached to it.
Possibly have an associated physicality to it (i.e stocks attached to companies, money attached to physical currency/gold etc..).
Re: The world’s most valuable resource is no longer oil, but data
#3> many of their services are free (users pay, in effect, by handing over yet more data)
Not just with loss of privacy, they also pay with increased cost of goods and services that are used to pay for the advertisement
> Governments could encourage the emergence of new services by opening up more of their own data vaults or managing crucial parts of the data economy as public infrastructure, as India does with its digital-identity system, Aadhaar
Since we are worried about privacy, let's give government the power to identify and track individuals based on "ten fingerprints and two iris scans" [1]
Re: The world’s most valuable resource is no longer oil, but data
#4One of the insights about data as a resource is that it is renewable. Every year, there are new 18 year olds joining Facebook volunteering their data (same for other user data mining companies).
Re: The world’s most valuable resource is no longer oil, but data
#5Plain wrong. To compare company sizes:
Google est. $500 billion Saudi Aramco est. $10,000 billion (!)
Google is ~5% of Saudi Aramco.
Re: The world’s most valuable resource is no longer oil, but data
#6I give much higher odds for a crash in the value of data vs the value of oil. Oil has fluctuated tens of percents, but data swings from "valued at hundreds of millions" to "nobody wants to buy it". For a recent example, see closing sale of Yik Yak.
Re: The world’s most valuable resource is no longer oil, but data
#7The movie "Sneakers" made this point in 1992:
"Cosmo: There's a war out there, old friend. A world war. And it's not about who's got the most bullets. It's about who controls the information. What we see and hear, how we work, what we think... it's all about the information!
The world isn't run by weapons anymore, or energy, or money. It's run by little ones and zeroes, little bits of data. It's all just electrons."
Re: The world’s most valuable resource is no longer oil, but data
#8This was always the case. Even when oil was "the most valuable resource", the one thing more valuable than oil was data (about oil).
Re: The world’s most valuable resource is no longer oil, but data
#9This was always the case. Even when oil was "the most valuable resource", the one thing more valuable than oil was data (about oil).
What's changed is now the data is digital only. Talking to people is outdated, only computer data matters now.
Re: The world’s most valuable resource is no longer oil, but data
#10This article is wrong not because as some point out oil is still more valuable commodity, but because it targets the wrong product. The most valuable resource is knowledge not data. I can sell you trillions of data points from many different devices and sensors, but in itself they are worthless. However, if you can get any insights, any knowledge from these data point the situation will change. It it's not the data that's important but the resulting knowledge.
It's like iron ore (in this case data) - in itself it's pretty much just a rock, but if you can extract the iron (knowledge) the resulting product is much more valuable.
Some companies are waking up to this fact, but the knowledge as a resource is still underutilized..