Goods, services and data

“Data is the new oil”, I heard this expression a few years ago for the first time and it stuck with me. Regardless of the business, over the years, the use of data became more and more important. Some of the businesses are data centric, others are using a hybrid approach depending on the industry, but in general the vast majority are impacted directly or indirectly by how data is leveraged.

And because of this reason, the way data is managed within a business is a top priority.

To some degree, people can be associated with micro-enterprises. They are able to produce goods and services, generate a revenue, manage debt, but for some strange reason, generally speaking, are not interested in managing their own data in the same manner a commercial enterprise would do.

Some of the companies identified this lack of awareness at the consumers level a while ago and they are able to exploit it in a clever way by selling users data. Back in 2010! Andrew Lewis summarized this by tweeting: “If you are not paying for it, you're not the customer; you're the product being sold".

It would be interesting to see if people, from a micro-enterprise perspective, will be able to think at their data, which by the way is continuously being generated, as an asset that can create some sort of additional revenue on top of the existing regular income generated by the goods and services they produce.

This article was first published on https://andreicazacu.substack.com/