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Keywords – Worlds Most Valuable Resource
A recent article in The Economist suggests that oil is no longer the world’s most valuable resource.
So, you may be thinking, what is the world’s most valuable resource then?
No points for guessing – the world’s most valuable resource now is data.
However, this also means a repetition of the past.
The Breakdown Call
Depending on which side of the political spectrum you deviate towards; and how far you go; you may have quite different, yet defined feelings towards power in a society. (We will keep our personal feelings out).
A century ago, there was an outcry to breakdown the major oil companies. And, now a similar movement is rising up against the likes of Facebook, Amazon, and Google.
Now let’s take a second to imagine this suggestion. For starters, imagine a world without Google.
In the case of Axies Digital, given that our speciality in SEO, we will simply not exist.
And, even from a general public perspective, given that more than 2/3rds of the market is using Google as a search engine, most of you cannot imagine a world without Google either.
In most of these cases, the consumer doesn’t even pay; directly that is. Consumers are paying with data and with data, comes power.
Put simply, size was never a crime and it should therefore, not be portrayed in that manner either. It is what we do with the power is what determines the good and the bad.
So, what does this mean for businesses.
The Role of Regulations
The simple answer to the management of data is regulating it.
You may be thinking here that we already have GDPR in Europe. And, yes, that is a great start.
However, most of the rest of the world is still lagging behind. In addition, the implementation of GDPR is still an ongoing process and needs to be tracked on a regular basis.
So, as a business, if you have been thinking that GDPR is creating hurdles for you, jump into the shoes of the consumer, and you might pick a different, more understanding perspective.
The bottom-line is: regulating data is a better solution than breaking down businesses Isn’t it?
To learn more, get in touch with us today.
And, to learn further about the use of data for businesses, check:
- Data Ethics – A Case for the Future of Work and Business
- You Need More than Plain Data – Applying Data Mining to Business
- The Law of Small Numbers – What Data Mistakes are Made by Businesses
- Sales Enablement – Beyond Lead Generation for Business
- Looking for the Best Content for Your Business?
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