Tech Fixx · Video
Why Data Is Called the New Oil: Value, Privacy & Limits Explained
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“Data is the new oil” is a popular analogy, but it is only partly true. This explainer examines why organisations value data, how raw information becomes useful through processing and analysis, and where the comparison breaks down.
You’ll learn: • Why data can create economic and operational value • Raw data versus cleaned, structured information • How analytics and AI use datasets • Why quality matters more than volume alone • Privacy, consent, security and ownership concerns • Why data can be copied and reused unlike a finite physical resource
The phrase is useful for discussing value, but it should not be used to ignore people’s rights or the context in which data was collected.
#DataScience #ArtificialIntelligence #DataPrivacy