Data is the new Oil

"Data is the new Oil" 

 You may have heard about this, right? 

Personally, I would say - 'Data is the newly discovered Oil'. Traditionally, The data was there and now in the Big Data world, we are discovering new data assets. This will move the next decade into so called 'Data Economy'.

There are great opportunities and also challenges with this new model. In regards to opportunities, we will see new roles, responsibilities - CDOs, CAOs, CINOs etc and business models will evolve. As far challenges goes, we need to walk on a fine line about privacy, governance and ethics etc.  

These new roles and responsibilities will be so critical for the organizations to foresee the respective responsibilities. All the leaders needs to be prepared for one thing - "Change". Yes, change is the only constant. This seems like oxymoron.

When I spoke with CTOs, CIOs and CEOs of various organizations in various verticals, one thing I heard constantly from them was about how to adopt to this change happening so fast like a thunderstorm. 

Big Data is here to stay in one form or the other but definitely going to disrupt very vertical and very sector. Time to visit your strategy. Technology is NOT a cost center, its a tool for innovation.