Data – the world's most valuable asset

The fact is, every company in the world is a data company. As the Economist magazine rightly pointed out in 2017, data (not oil) is the world's most valuable resource and unless you are leveraging your data as a strategic differentiator, you are likely missing out.

If you look at successful companies over time, all of them had sustainable competitive advantages – either economies of scale (Apple, Intel, AWS) or network effects (Facebook, Twitter, Uber, and so on). Data is the new basis for having a sustainable competitive advantage. Over 90% of the world's data cannot be googled, which means most of the world's valuable data is private to the organizations that own it. So, what can you do to unleash the potential that's inherent to your proprietary data?

As we discussed in Chapter 1, Data Is the Fuel that Powers AI-Led Digital Transformation, CEOs and business leaders know they need to harness digital...