5. Data is the new oil

Bruce Winter (Author & Retail Analyst) describes how he has seen Data become what he calls “the new oil”. He outlines how, as AI starts to extend the capabilities of data gathering, it simultaneously requires large volumes of Data to…

5. Data is the new oil

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Bruce Winter (Author & Retail Analyst) describes how he has seen Data become what he calls “the new oil”. He outlines how, as AI starts to extend the capabilities of data gathering, it simultaneously requires large volumes of Data to scale. Smart companies recognize this and have begun competing in a data-driven economy. As long as businesses provide strong experiences, customers will be willing to share their data. The larger, more complex thought for customers then becomes, “What’s in it for me?” Bruce believes that when asked to share their data, Customers must receive something tangible in return.

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