Question

Business pioneers, such as John D. Rockefeller, have used industries such as oil, gas, and electric as the foundation for entities, such as railroads, utilities, and other “foundational” interests. Now, in 2019, we are entering a new age. A so-called “data age,” in which data is stored, held, and sold at such a rate, information is as profitable as traditional “brick and mortar” industries. It has made Facebook, Google, and Amazon into data giants.

• Make an argument that companies such as Verizon, Google, and Facebook should be held to the same, or similar standards, as DTE, Consumers Energy, and even our own government. (1 page, APA)

Answer 1

solution:

"Data is the new gold" , is the phrase most valuable in the current era . Data has driven thousands of businesses both small and large scale.

Large tech companies like facebook, Google, Amazon , Alibaba etc are utilizing data to full effect for growth their respective organisations. Data enables these tech companies to know more about what their customers like , analysing the personalized choices of their customers and getting the continuous feedback of their product.

The value of data is in some way similar to how 'oil' is for the manufacturing industries, it is the raw product which is required for the processing of all other finished product. In the same way data obtained from the data warehouses is processed to make build customized products which would know what their user likes or dislikes .

The technology especially the data analytics has enabled us to use data to a good effect. We are using processed data to customize suggestions regarding the user preferences. The biggest impact of the data is their on the advertisement sector which has revolutionized the businesses across the globe ,for example Google Adsense is helping lots of small business to develop and globalize themselves. Thus in the current era data is more valuable than gold.

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