The Current Landscape of Digital Data and it’s Ownership

Digital data is the new oil

In the current era, digital data has become the new oil, a valuable resource that fuels numerous industries and drives innovation. Just as oil powered the industrial revolution, data has become the lifeblood of the digital age. It is generated at an unprecedented rate, offering businesses, governments, and organisations the potential to extract valuable insights, make informed decisions, and create new opportunities. Much like oil, data has the power to reshape economies and societies.

Leveraging Digital data 

Every interaction we have with digital devices, from browsing the internet to using social media, generates a vast amount of data. Additionally, the proliferation of smart devices, sensors, and the Internet of Things (IoT) has led to an explosion in data creation. According to an IBM report, 90% of the world’s data was generated in the past two years alone. The advent of big data analytics and advanced technologies like artificial intelligence and machine learning has enabled organisations to harness and process this massive volume of data. This has led to valuable insights and competitive advantages. As data production continues to grow exponentially, it has become clear that those who can effectively harness and leverage this resource will have a significant edge in the digital economy.

Tori West
Founder likes exploring wellness, perichoresis, web3.0 and data.