Why is data the new oil?

For ages oil is considered as an asset that runs the world, it's a utility that we cannot live without.with the advent of the internet age, the bulk of earth's has a digital footprint in one way or the other.we create and consume data.we need to see the evolution of this data through multiple lenses. one as an individual we produce so much personal data and this personal data can be further granulated into many subsets.Data that are purely personal personal, social media data, medical data and so on..

The need for the hour is a well structured infrastructure to store and and efficient tool to gain proper insights.