- Scarcity: Just as oil is a finite resource, high-quality data is scarce and valuable. The more data you have, the more valuable it becomes.
- Energy: Data can be used to fuel machines, algorithms, and models, just like oil fuels cars and machines.
The "data is the new oil" concept highlights the importance of data in today's digital economy. It emphasizes the need for companies to collect, process, and analyze large amounts of data to gain a competitive edge, make informed decisions, and create new products and services.