Is Data the currency of the Internet or is it the new oil?

I have “long” thought that data is the currency of the Internet, it is what is monetized and when aggregated, parsed and made accessible, where the value lies for businesses and individuals.  I was interested then to read in Rich Miller’s article about another analogy that had recently been drawn:

“Data is the new oil,” said Andreas Weigend, social data guru and former chief scientist at “Oil needs to be refined before it can be useful. Big data startups are the new refineries.”

Another way of putting this might be to say that the internet runs on data.

Just a few thoughts to share over my much needed morning coffee.  Talk amongst yourselves.

Pau for now…

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