Page 37 - Reclaim YOUR DIGITAL GOLD (without audio)

Data is the New GolD

Chapter Summary

In this chapter, we’ve looked at why data is referred to as
“digital gold” and how it affects almost every aspect of
society today. It has quickly become one of the world’s
most valuable commodity in such a short period of time,
due in part to the digital revolution.

An important point to note is that the information
economy has enabled Google, Facebook, and Amazon
to build their empires in a relatively short period of time
through the use of data and information.

Here are some noteworthy reasons why data and its
applications are so important, as well as how they relate
to businesses:

● It has the potential to improve our standard of
living
● It assists us in making more informed decisions
● It is capable of assisting us in achieving the
desired results in an efficient manner; and
● It can help identify the root cause of problems
and solutions.

We’ve also seen that data can be stored indefinitely and
how our personal information can be transformed to help
improve the customer experience, generate revenue, and
drive information security.

Furthermore, social implications of data in the following
areas are also discussed. Medical Care and HealthTech,

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