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Data Science
Puru BhatnagarTop Contributor
Business Analyst, Entrepreneur, Business developer, Marketer
Asked a question 2 years ago

How data is the new oil?

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Kavii SuriTop Contributor
GEEK | Content Writing Intern | Pursuing CS | Exploring ML and Data Science

Data is the New Oil, You, obviously, have heard this phrase which is just thrown around in media. BUT unlike many things in media, this one is true!!

Now, we know how much data is collected every second. Companies collect tremendous amount of data in order to optimize their services and target the market properly. Due to this we need to refine the data and find the inferences out of it just like oil. The second analogy we can draw is that just like oil, data has bought a new boom in economy and has revolutionized the industry. Just like oil, there was always data, it's just recently that we have the resources and techniques to analyze and refine the data and this is changing the world!