Is data (information) really the new oil? This debate has raged for many moons and the verdict is still out.
The argument is that like oil, data in its raw state has some worth but certainly doesn’t command the price or value as it does once it’s refined.
Some argue that this is entirely correct, others argue that comparing data to oil is doing the value of data no justice, because it should, in fact, be compared to Nuclear Power.
What’s our opinion? Our opinion is 100% in agreeance – data is the new oil.
This answer is 2 fold:
1. Not unlike to first discovery of raw oil in the 18th century, current data-discovery is happening, but we are not entirely understanding of the total impact that the final, refined product will have on our world. Not yet, but we will, shortly.
2. We know, without doubt, that data, like its carbon counterpart, is the foundation on which the fuel for Operational Excellence is based. No data, no fuel. Simple.
How important is data to a business?
Data is critical in taking your business forward. Data (information, statistics, history, analytics) is the snapshot of where you are and where you want to be. Without it, you are blindly hoping for improvement.
Through Data-Automation, previously difficult to access data can be automatically mined, refined, consolidated, and presented to you in predetermined data-sets ensuring that you have accurate, precise information at your fingertips on a live basis.
Imagine how much better your decision-making process would be with access to the complete inner workings of your division, team, and customers.
Let us help you Do Great Things with Data-Automation.
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