“Data” - The Coal of 4th Industrial Revolution!!!

                 2.5 quintillion bytes of data are produced by humans every day.

These are just of the facts about data which anyone could google. There is no doubt that Data is the new resource and this resource is solely responsible for the 4th industrial revolution we are witnessing.

Data vs Coal

But If we start the comparing of this resource to the one which caused the 3rd industrial revolution, we will see that-

Unlike coal, Data is not going to get depleted, rather it is increasing day by day.

Unlike coal, Data is Flexible and its utilization is easy. You don’t necessarily need heavy infrastructure to process data.

The people who owned the coal mines back at the time of 3rd revolution became so rich that, there name is still present in the economy, even after a century of that revolution. We can expect a similar thing in case of data.

Companies now don’t see data as a liability rather than Asset which they can utilize to increase their productivity and planning.

Flexibility an additional advantage of data.

One thing that you must have observed is that Microsoft has a simple formula for success-Make things more user friendly, every new windows version we see is designed is such a way that it is more user friendly than the previous one, and this formula is totally working.

Now you don’t need any specialization to use a computer, i.e. they have made it flexible!!

Similar is the case of Data, take an example of a excel sheet or a normal .csv file .and which has 4 or 5 columns and 1k row 4k rows, now with a basic system requirements on any pc you can perform number of task with that .csv file.

You will have number of software each with a better option than other to do the task ,if you want you can download the software or they may provide you the browser version also.

It is not wrong saying that entering the field of ‘Data’ as become easy for anyone.

Does Google know me better?

You can just imagine the extent of power that companies like Google or Facebook posses having this load of data in their hand. There might be some experiences which with each of us ,that may have shocked you or impressed you. Like you might have been walking out of the theatre and suddenly get a notification from google on how the Movie was?

Or better You might have been listening to a song on Friday eve and you got similar recommendations next weekend same time, like the app knew somehow how would you feel on a Friday eve.

Summary-

Last time when coal was the new resource people who used it most, who owned it and utilized it led the 3rd industrial revolution with energy sector, mines and metals. Those people made a fortune with it, ever heard the name of John D. Rockefeller, Andrew Carnegie?