‘Data is the new oil’: Your personal information is now the world’s most valuable commodity

The five most valuable companies in the world today — Apple, Amazon, Facebook, Microsoft and Google’s parent company Alphabet — have commodified data and taken over their respective sectors. For instance, Google holds an 81 per cent share of search, according to data metrics site Net Market Share. By comparison, even at its height, Standard Oil only had a 79 per cent share of the American market before antitrust regulators stepped in, Taplin says.

“When we look at the price of data and the amount of money that’s being made by big companies by reselling that data, it’s certainly comparable to oil in that manner,” Sali says. “But it’s a little bit different in that data isn’t a finite resource. At the end of the day, we can certainly create more data, whereas we can’t create more oil.”

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About Manoj Kumar 80 Articles
A senior management consulting professional and an entrepreneur by heart, Manoj has led global change programs for fortune 500 companies like HSBC, Fidelity Investments, and GE. His expertise lies in functional strategy development, operating model building, process analysis, operational improvement, and simplification including global implementation of BI technologies. In 2014, he was recognized as one of the Top 72 HR Analytics Influencers worldwide. He is currently working as the Vice President, HR Analytics, HSBC. He is also very active in the Entrepreneurial community in India. His entrepreneurial stints include – India’s first online Toy Rental Company “Rentoys” (http://www.rentoys.in), featured in Outlook Money, ET, DARE, UTV Pitch, ET Now, BangaloreMirror, Indian Express, DNA) and an online marketplace for Indian voiceover artists – VoiceHired.com (1000+ artist community)