- Just as oil was a valuable resource in the past, data has become a valuable resource in today's digital age.
- Both oil and data are essential for powering modern economies.
- The phrase highlights the idea that data is a raw material that can be extracted, refined, and used to create value.
- The phrase also emphasizes the importance of data quality, just as the quality of oil is critical for its use.
- Finally, the phrase "data is the new oil" acknowledges the shift in the global economy from traditional resources to digital ones.
Indeed 💯. Data becomes valuable if it provides an advantage to us by allowing us to learn ways that will improve our decision-making, efficiency, and make us competitive in this modern age.