Sunday, March 13, 2011

Data is the new oil

There is something happening that only a very few folks are aware of directly; IMHO either because of little expousre or legal|swore oaths to not talk about it.

Indirectly most do know the amount of data that is being pumped out by users is astronomical! Those that have the ability generate this data or get their analytics on it are making new markets with revenue streams erupting off of their data's richness.

Recently while attending CloudCamp in Baltimoretowncenter I heard this great quote and figured it should get a mention here and once I get the name I'll post it and any links if possible

Data is the new OIL

So what does that mean. It means that data is a new world currency. Money as it turns out is really just bits of data as most of us don't carry hard currency around these days. To those that do know they are participation in a 3 wave evolution of data becoming a currency. Ownership of large chunks of this now is not just data storage it's a real store of value.

Kinda of funny to think about our money. According to Wiki and my college Econ teachers it's~
The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value;
Egro~ without the data there would is no value. And without the raw computing power of the cloud and ability to cluster or hash your data with other clouds public and priviate your data is useful only to you and it is not part of this new economy.

Think about this~ 100 percent of your social media and 95 percent of email is NOW It needs to be on the cloud. If I said either of those things would happen in 2003 most folks would have laughted or just stare back with a blank expression.

Who's Cloud are you on?

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