Has Data Surpassed the Value of Oil?

I think its safe to say today that Data has now surpassed the value of oil. In the last 10 years platforms such as Facebook, LinkedIn and Twitter have been used by billions of people. These companies have have been collecting huge amounts of personal data. In letting these companies know what you like, how you feel and what are your comments data now has a huge value. What was initially marketed as an open platform that promoted sharing of data by these companies has quickly been weaponized by foreign governments, other companies and terrorists who willing to pay big money for these data sets.  With the recent release of the Netflix documentary “The Great Hack a resounding idea can be deducted. Data is is without a doubt now more valuable than oil. The documentary is an interesting watch and will hopefully have people open their eyes so that they can see what happens when their own data is used against them.

How is your data used against you?

  • Improve company sales:
    Companies can target you with what you have been searching to help improve their sales.
  • Direct Marketing:
    Ads are narrowed for your profile based on your likes and comments.
  • Promote Politics:
    Likes and postings are analyzed by algorithms that can determine what you see in your feed which can later influence your vote.

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