05 Value of Data

In our slides we were shown in class, it was pointed out that the reason Facebook is worth more than several lucrative companies such as McDonald's despite only generation $1 billion worth of revenue is due to the value it's data stores hold, now and in the future.

While so far we have focused on the sheer exponential volume of data that is becoming available in the modern world, the value of this data has not been as much of a focus. Making a conscious effort to utilise and profit off of the data that companies generate is set to become a necessity, and it is predicted that all companies will be purchasing external data to enhance their business by next year.


For more information, you can read here: https://datamakespossible.westerndigital.com/value-of-data/

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