Data is considered the "new oil"

The phrase "data is the new oil", in a free translation for the original "data is the new oil", was created by Clive Humby, a London mathematician specialising in data science. This expression has been widely cited in the market and by executives around the world, who use it to defend the idea that data is as valuable as oil.

In the age of technology, it is not so hard to believe that the greatest raw material is information, which is unlimited. In turn, oil is finite. This means that, at least in theory, those who know how to make good use of information only have to gain. Furthermore, following this reasoning, it is safe to affirm that the greatest richness is found not in the data itself, but in the ability to use them analytically. The intelligence behind them is the one that determines their greatest value because, from it, the discoveries capable of transforming the reality not only of organizations, but of different markets will be extracted.

Unlike oil, where one of the biggest challenges is locating underground reserves, the key point in the world of data is another. Locating them is no longer a problem, given that today they are at our disposal. Now, the biggest challenge is knowing how to make good use of this source of inexhaustible possibilities.


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